131968
Description
Flashcards by Det Ferraris, updated more than 1 year ago
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Created by Det Ferraris
almost 11 years ago
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| Question | Answer |
| 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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