Workers' Compensation Coverage B

Dictionary Says

Definition of 'Workers' Compensation Coverage B'


An insurance policy that covers medical care, lost income and rehabilitation costs for employees who are injured on the job. Workers Compensation Coverage B provides coverage to employees when the employer is liable. This type of workers' compensation is also called Employers' Liability Coverage. It covers:

Bodily Injury By Accident - $100,000 each accident
Bodily Injury By Disease - $500,000 policy limit
Bodily Injury By Disease - $100,000 for each employee

The coverage consists of parts A and B. Employers are required by law under the Workers' Compensation Act to provide coverage for their employees.

Investopedia Says

Investopedia explains 'Workers' Compensation Coverage B'


Under this type of coverage, workers who are injured on the job can be provided with 100% coverage of all medical expenses, 66.66% of lost wages, a lump sum for disability, and a disfigurement and death benefit. This coverage is required in most states if a company has three or more employees including the owners or uninsured subcontractors including their employees during one year.
comments powered by Disqus
Hot Definitions
  1. Closed-End Fund

    A closed-end fund is a publicly traded investment company that raises a fixed amount of capital through an initial public offering (IPO). The fund is then structured, listed and traded like a stock on a stock exchange.
  2. Payday Loan

    A type of short-term borrowing where an individual borrows a small amount at a very high rate of interest. The borrower typically writes a post-dated personal check in the amount they wish to borrow plus a fee in exchange for cash.
  3. Securitization

    The process through which an issuer creates a financial instrument by combining other financial assets and then marketing different tiers of the repackaged instruments to investors.
  4. Economic Forecasting

    The process of attempting to predict the future condition of the economy. This involves the use of statistical models utilizing variables sometimes called indicators.
  5. Chicago Mercantile Exchange - CME

    The world's second-largest exchange for futures and options on futures and the largest in the U.S. Trading involves mostly futures on interest rates, currency, equities, stock indices and agricultural products.
  6. Private Equity

    Equity capital that is not quoted on a public exchange. Private equity consists of investors and funds that make investments directly into private companies or conduct buyouts of public companies that result in a delisting of public equity.
Trading Center