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Article: The rising cost of workers' compensation and how to contain it.
- Article from:
- Risk Management
- Article date:
- March 1, 1989
- Author:
CopyrightCOPYRIGHT 1989 Risk Management Society Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Rising Cost Of Workers' Compensation And How to Contain It
The workers' compensation system was created to provide security to both employers and employees. Employers wanted to be protected from financially crippling lawsuits related to on-the-job injuries, while employees wanted to be assured that their medical bills and salaries would be paid if they were injured. Today, however, the security provided by the insurance is being eroded due to the skyrocketing costs of health care.
For employers, serious problems result from such escalating and unpredictable costs. Many businesses face large profit cuts and have to increase what they charge for goods ...