workers' compensation noun
: a system of insurance that pays an employee who cannot work because he or she has been injured while working
: a system of insurance that reimburses an employer for damages that must be paid to an employee for injury occurring in the course of employment —called also workers' comp, \-ˈkämp\
First Known Use of WORKERS' COMPENSATION
workers' compensation noun (Concise Encyclopedia)
Program through which employers bear some of the cost of their employees' work-related injuries and occupational illnesses or disabilities. It was first introduced in Germany in 1884. In Britain and the U.S. in the late 19th century, there was a movement to secure the right of injured workers to compensation and to improve working conditions through court decisions, employer liability statutes, and safety codes. By the mid-20th century most countries in the world had adopted some sort of workers' compensation. Some systems take the form of compulsory social insurance; in others the employer is legally required to provide certain benefits, but insurance is voluntary. The system of workers' compensation serves as an economic incentive for employers to prevent accidents and illness among employees, since liability for medical costs and the income lost by placing workers in hazardous environments can easily exceed the costs of establishing safe working conditions.
Learn More About WORKERS' COMPENSATION
Seen & Heard
What made you want to look up workers' compensation? Please tell us where you read or heard it (including the quote, if possible).