Workers’ Compensation Details

Workers’ Compensation 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.

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 (functioning in this case as a form of life insurance).

Workers’ Compensation Policies Are Made up of Two Parts:

Part A – Covers expenses which result from injuries and illnesses suffered by employees in the course of performing their duties for the employer.

Part B (also known as Employer’s Liability coverage) – Covers other liability the employer may incur as a result of injuries and illnesses, such as economic loss suffered by the family and dependents of the injured employee, resulting from the employee’s incapacitation.

Because Workers’ Compensation coverage is state-mandated, the requirements vary from state to state.

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