Take Full Advantage of the Workers Compensation Insurance
Thursday, February 28, 2013
A worker of a company is like a family member and should be well taken care of. There have been many incidents in which the worker has injured himself while working and at times has even lost his life. In order to avoid further harassment to the injured worker and his family in terms of finance, the companies started insuring them under the workers compensation insurance. This is a form of insurance, which provides medical benefits and wage replacement for employees who get injured while working. This is also helpful for the employer because if the workers are provided this type of insurance, they cannot sue the employer for negligence. It can be considered as an exchange between the employee and the employer. Workers compensation insurance is known as compo in Australia and workers' comp in America. The employees used to suffer a lot before this type of insurance was implemented and made mandatory. Employees who got injured while working were able to pursue the employer only through civil law. In order to get compensation they had to prove the negligence on part of the employer, which was a very tough job for a normal employee. Therefore in maximum cases the employer was set free without any compensation and the worker had to meet his expenses by his own self. This hurt the employee in a major way as he would not only lose wages of many days, but also had to bear his medical costs, and at times lost the ability of working in the future. This insurance is of great benefit to the employees and has been framed by keeping their welfare in mind. Workers compensation insurance is of great help to both employees and employers. The employees have a backup in case they get injured while the employer can save a lot of money as tax reduction by paying the premiums for the insurance. This law has been implemented as mandatory for the companies, but some companies or work places are still not covered under it. Those who do not need to get the workers compensation insurance done are: • Local authorities • Police authorities • Committees or joint boards whose members include some members of the local authority • Nationalized industries • Subsidiaries of nationalized industries • Health service body Workers compensation Insurance in different parts of the world The workers compensation insurance is liable in almost all countries, but in different name and form. Australia implemented this law after the influential labor movement, which took place in the early 20th century. The region of Southern Australia covers this insurance under the Workers Rehabilitation and Compensation Act. This act was enacted in the year 1986. Brazil has a very unique and effective way of implementing this insurance. Welfare is the social insurance for employees who contribute. It basically is a public institution, which aims at recognizing and granting rights to all its policy holders. If a worker in Brazil gets injured while working then the salary of the initial 15 days is to be paid by the company he works for and the salary for the next 15 days is paid by Welfare. This is carried on till the employee is fit to work again.
Posted by Anggun Orizah at 7:30 AM