Workers Compensation: A Reference and Guide

Workers Compensation: A Reference and Guide

Workers Compensation: A Reference and Guide

Workers Compensation: A Reference and Guide

Synopsis

For human resource professionals, labor law specialists, and others involved in the practice of labor-management relations, Lenscis provides a concise, easily-accessed description of the workers compensation system in the United States, its governing laws and also its insurance aspects. Covering all major facets of workers compensation legislation and the insurance and risk management techniques used to comply with them, his book will have equal benefits for the staffs of insurance companies and brokerages, compensation and claims professionals, and for workers compensation executives in governmental agencies.

Excerpt

Workers compensation in the United States is a combined governmental and private insurance program that provides benefits to most workers who suffer work-related injuries and disabilities. In 1995 there were approximately 3.6 million disabling workplace injuries in the United States, and private workers compensation insurance accounted for approximately $30 billion of a total of $131 billion that U.S. insurance companies collected in commercial property and casualty premiums. It represented a larger portion of that $131 billion than any other kind of commercial liability insurance, such as general liability or automobile. If state-sponsored insurance funds and employers' self-insurance programs are also taken into account, workers compensation in the United States currently represents a total expenditure of approximately $42 billion per year, roughly the same amount as the gross domestic product of Egypt or Ireland.

Workers compensation is a no-fault social insurance concept, similar to no-fault automobile insurance, that mandates the payment of statutorily defined medical, disability, and other benefits to injured employees without regard to fault as a cause of the accident in question. Tort actions against employers are almost entirely eliminated. In general terms, workers compensation laws make employers liable for accidental injuries to employees that arise out of and in the course of their employment (and for certain job-related diseases), regardless of the presence of fault on the part of the employee or the employer, and regardless of the absence of fault. In . . .

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