Term
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Definition
| the original no-fault coverage. it is usually required by state law if the employer has one or more employees. since coverage is statutory, these coverages will vary from state to state. |
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Term
| job-related accidental injury and/or sickness. |
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Definition
workers compensation coverage is occupational in nature meaning that it only covers _
-premiums are based on the hazard of the occupation, and the rates are calculated per 100 of annual payroll. |
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Term
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Definition
| workers compensation comes under the jurisdiction of _ state agencies. |
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Term
| loss of income, medical bills, expenses related to rehabilitation, lump sum payments for dismemberment or death, survivor benefits |
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Definition
| workers compensation benefits |
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Term
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Definition
| interpretation of the workers' compensation statutes and determinations of eligibility are usually made by the state _ |
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Term
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Definition
| since workers' compensation is also insurance, it comes under the jurisdiction of the _ |
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Term
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Definition
| in most states, workers comp is only available through _ |
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Term
-purchase workers' comp from an authorized private insurer
-from the state compensation fund, may be owned by state
- or create a self-insurance plan acceptable to the state Industrial Commission |
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Definition
| 3 different ways an employer may choose to comply with the workers comp |
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Term
| u.s. longshoremen's and harbor workers comp act. |
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Definition
| workers comp is primarily regulated by state law, those who load, unload, build, or repair ships are also covered by the _ |
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Term
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Definition
| the law permits an injured seaman to elect to sue the employer for damages and to have a jury trial. |
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Term
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Definition
| works to the advantage of the employee, as the employee will receive benefits for lost wages, medical care and rehabilitation, even if the worker causes his or her own injury |
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Term
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Definition
| may be filed whenever workers' comp laws do not prohibit the personal injury suit. this involves situations where the worker is injured due to the negligence of a third party> a person which is neither the workers employer nor their co-employee. |
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Term
| exclusive remedy provision |
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Definition
| an employer who chooses not to obtain required coverage, or opts out of the workers' comp system, will not be protected by the _ |
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Term
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Definition
| protects the insured against all claims presented under the statutory coverages |
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Term
| part 2 employers liability |
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Definition
| protects employer in the even an injured worker, or their heirs, elects to forego coverage under part 1 and sue for negligence |
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Term
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Definition
applies only to statutory benefits.
-states that the insurance offered conforms to the workers' comp law of the state and that the policy will automatically conform to new changes in state law relating to coverages or benefits payable.
-insurance applies to accidental bodily injury, death or disease, occuring during the policy period and caused by or related to the employment of the insured.
-the insurer has subrogation rights |
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Term
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Definition
| workers comp laws provide rules that insure that a worker will continue to receive income when that worker is incapacitated as the result of a work related injury. |
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Term
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Definition
| generally between 60% to 66 2/3rd% of an employee's average weekly wages |
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Term
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Definition
a process that aids an individual who has lost his or her job because of injuries.
-aids workers in returning to the ranks of the employed. |
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Term
amount paid to assist with funeral expenses
amount paid to survivors |
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Definition
| the two types of death benefits |
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Term
66 2/3rds of the workers avg weekly wage.
paid to spouse until death or remarriage
paid to kids until age 18 or later if still in school full time |
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Definition
| survivor benefits are how much of the average weekly wage and who/how long are they paid |
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Term
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Definition
which encourages an employer to hire an employee with previous injuries.
-would pay all or part of the additional compensation required following the second injury |
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Term
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Definition
| any employer who is unable to purchase coverage shall be placed in this that apportions such risks among all workers comp insurance carriers, including state fund, if any |
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Term
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Definition
which encourages an employer to hire an employee with previous injuries.
-would pay all or part of the additional compensation required following the second injury |
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Term
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Definition
needed to cover claims that are presented by employees who have rejected coverage under part 1 and claims presented by employees who were unable to collect under part 1
-min 100,000 per accident
-punitive damages are excluded
-provides legal defense in addition to limits and will investigate/settle claims. supplementary payments are covered |
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Term
| workers compensation rating |
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Definition
based upon hazard of the occupation and are calculated based upon per 100 of payroll.
-rate per 100 for an employee working as an insurance agent might only be 1 per 100$ since selling insurance presents few occupational hazards |
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Term
| National council of compensation insurers |
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Definition
| establishes modification rating factors which allow for adjustments of workers; comp premiums based upon an employer's claims frequency. |
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