Socialization of Risk and What it Means for Workers' Compensation
K. Max Koonce
Workers’ compensation began as a system for injured workers in the early 1900s. In order to receive workers’ compensation benefits, an injured employee must only establish that their injury arose out of and in the course of their employment. With caps on liability for the employer and with guaranteed benefits for the employee, the workers’ compensation system is sometimes characterized as the “Grand Bargain.” As such, there are three notable aspects as to ...
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