workers' compensation

workers' compensation
   Rights that are found in various Workers' Compensation Acts, state statutes that establish the liability of employers for injuries to workers that are sustained on the job or illnesses that result from their employment, and that require employer insurance to protect the workers. Workers' compensation is not based on employer negligence, but is absolute liability for medical coverage, a percentage of lost wages or salary, costs of rehabilitation and retraining, and payment for any permanent injury (usually based on a medical evaluation). If compensation is granted, it becomes the only remedy against an employer and prevents workers or their dependents from suing the employer for injury or death. Some injured workers waive workers' compensation and sue the employer for damages caused by the employer's negligence. If a third party contributed to the damages, the injured worker may sue that party for damages even though he or she receives workers' compensation. Formerly known as workmen's compensation.

Business law dictionary. 2015.

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