What is Worker's Compensation?
Related Areas of Law: Workers Comp - Slips and Falls - Disability -
Wrongful Death -
Construction Accidents - Factory Machine Injuries
Workers' compensation (colloquially known as workers'
comp in North America) is a form of insurance that provides compensation
medical care for employees who are 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 tradeoff between assured,
limited coverage and lack of recourse outside the worker compensation system
is known as "the compensation bargain." While plans differ between
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
(functioning in this case as a form of life insurance). General damages for
pain and suffering, and punitive damages for employer negligence, are
generally not available in worker compensation plans.
Excerpted
from www.wikipedia.com
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