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Integrated Insurance Management, LLC

Insurance and Risk Management


 
A Ridgeview Family Company
 

Workman's Comp Basics

Disclosure: Each Person and Insurance policy is unique and the following is general information, please contact us for more specifics related to your policy and situation

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. The trade-off between assured, limited coverage and lack of recourse outside the worker compensation system is known as "the compensation bargain". One of the problems that the compensation bargain solved is the problem of employers becoming insolvent as a result of high damage awards. The system of collective liability was created to prevent that, and thus to ensure security of compensation to the workers. Individual immunity is the necessary corollary to collective liability.