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Workers Compensation Coverage Guide

Summit Business Media, April 2000, Pages: 192


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The definitive guide to understanding Workers Compensation and Employers Liability Programs.

From basic to complex concepts, this comprehensive guide covers it all in plain language. You'll learn how the coverage works and how programs are established and monitored. This valuable guide has more than 200 pages of forms and information, including discussions that are vital for complete understanding of the workers compensation system.

The workers compensation system was one of the triumphs of the industrial age. The system is the cumulative result of years of strife and compromise between employer/owners and employee/labor. The struggle toward this useful social compromise began in the 1870s with the organized labor movement and came to fruition in 1911 with the passage of the first state workers compensation law in Wisconsin.

In the workers compensation system, injured employees relinquish the right to sue their employers for employment-related injuries in return for a statutorily imposed mechanism that provides specific scheduled benefits.

These benefits are funded, for the most part, through insurance policies that employers purchase from insurance companies. Indeed, in most states, employers must insure their workers compensation exposure or become qualified self-insurers. Employers cannot simply decide to operate without insurance. If they do, they risk being fined—and still have to pay the benefits that are set by law when an employee is injured on the job.

This work is a guide to the workers compensation system: how to calculate premium; how experience rating and modifiers work; and various financial plans and considerations. It also provides a detailed analysis of workers compensation and employers liability insurance by way of an examination of the standard workers compensation insurance policy.


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