What does workers compensation mean?
Definitions for workers compensation
work·ers com·pen·sa·tion
This dictionary definitions page includes all the possible meanings, example usage and translations of the word workers compensation.
Wiktionary
workers compensationnoun
Insurance that pays medical costs of personal injuries sustained by working.
Wikipedia
workers compensation
Workers' compensation or workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence. The trade-off between assured, limited coverage and lack of recourse outside the worker compensation system is known as "the compensation bargain.” One of the problems that the compensation bargain solved is the problem of employers becoming insolvent as a result of high damage awards. The system of collective liability was created to prevent that and thus to ensure security of compensation to the workers. While plans differ among jurisdictions, provision can be made for weekly payments in place of wages (functioning in this case as a form of disability insurance), compensation for economic loss (past and future), reimbursement or payment of medical and like expenses (functioning in this case as a form of health insurance), and benefits payable to the dependents of workers killed during employment. General damage for pain and suffering and punitive damages for employer negligence are generally not available in workers' compensation plans, and negligence is generally not an issue in the case.
Numerology
Chaldean Numerology
The numerical value of workers compensation in Chaldean Numerology is: 8
Pythagorean Numerology
The numerical value of workers compensation in Pythagorean Numerology is: 1
Examples of workers compensation in a Sentence
Insurance Commissioner Dave Jones:
The underground economy is not a victimless crime, by underreporting payroll, paying employees under the table and committing workers' compensation insurance fraud, these employers cheat the system and leave their employees at risk.
While these situations should not be happening within the current workers ’ compensation legislation, we do know that they sometimes do occur, in spite of the legislation in place.
In some situations an employer might not have put in place protections to reduce an injury occurring again, such as removing the hazards that lead to the injury, while these situations should not be happening within the current workers ’ compensation legislation, we do know that they sometimes do occur, in spite of the legislation in place.
Workers compensation partly relates to lower interest rates. That doesn't have anything to do with AIG per se.
Translations for workers compensation
From our Multilingual Translation Dictionary
- compensación de trabajadoresSpanish
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"workers compensation." Definitions.net. STANDS4 LLC, 2024. Web. 28 Mar. 2024. <https://www.definitions.net/definition/workers+compensation>.
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