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GLOSSARY

Small Business Glossary and Definitions

What is Workers Compensation?

Workers Compensation is a form of insurance that companies offer their employees in case the employee gets injured on the job site. Workers compensation is offered as a compromise wherein the employee gives up his or her right to sue the company and the employer promises to pay a wage replacement or medical benefits to individuals who are injured on the job. Workers compensation can be a burden for companies, but it saves them from costly litigation and outrageous injury settlements.

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