H11: Workers Compensation (Section I)

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Accident & Health Agent Fichas sobre H11: Workers Compensation (Section I), creado por Det Ferraris el 13/06/2013.
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Fichas por Det Ferraris, actualizado hace más de 1 año
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Creado por Det Ferraris hace más de 11 años
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Workers' Compensation provides coverage to pay for expenses incurred by an employee; without regard to fault for ON-THE-JOB INJURIES AND OCCUPATIONAL ILLNESSES & DISEASES.
Workers Comp originally ELECTIVE by employers in early 1900s when it originated.
Workers Comp California WC laws make having Workers Comp compulsory (mandatory) for all employers. WC premiums must be paid entirely by employer.
Sources for WC Private Insurer, Self Insure, CA State Fund
Private Insurer WC insurance purchased from a private insurance company
Self Insure employer with adequate resources can self-insure WC exposure
CA State Fund WC Insurance purchased from CA's State Fund
CA State Fund self-supporting, non-profit state enterprise, provides WC insurance to CA employers at cost, Business can be placed by: Insurance Brokers or Employers
A state fund can be COMPETITIVE or MONOPOLISTIC A state fund can be COMPETITIVE or MONOPOLISTIC
CA is a monopolistic California competes with private insurers for the same WC customers.
Monopolistic fund some state are the only one who can sell WC insurance.
Part 1 WC provides payments for sums employer is legally required to pay under state WC laws
Part 1- WC covers on-the-job Medical Expenses (No time or $ limits), disability (replaces a portion of income), death & survivor Benefits ($5k max for burial expenses), rehabilitation
Common Law Obligations requires emloyers to provide employees with SAFE PLACE TO WORK, SAFE EQUIPMENT, COMPETENT WORKERS
Part 2: Employers Liability Part 2: Employers Liability
Employers Liablity provides coverage for COMMON LAW lawsuits not covered by part 1. ex: consequential bodily injury, negligence, loss of consortium
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