Workers’ compensation is a form of employer insurance coverage that pays benefits to workers who are injured or become disabled as a result of their job. Workers compensation laws were created to ensure that employees who are injured on the job are provided with fixed monetary awards.By accepting workers’ compensation benefits, the employee waives the right to sue their employer for damages
Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken.To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy Workers Compensation Insurance
It assures that injured workers get medical care and compensation for a portion of the income they lose while they are unable to return to work and it protects employers from lawsuits by workers injured while working.
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