Creado por Det Ferraris
hace más de 11 años
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Pregunta | Respuesta |
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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