Worker’s Compensation Insurance a.k.a Workman’s Compensation Insurance provides for the medical cost of the sustained injury and for lost wages during recovery. In addition, if the worker sustains permanent disability, the insurance provides compensation until the Social Security Administration’s Disability Program starts.
Assumption of Risk
Assumption of risk is a legal concept whereby the individual can knowingly sign away his right to sue based on risk. If he signs a contract whereby he assumes various risks, then he has signed away his right to sue based on issues related to those risks. In business, assumption of risk is exactly the same. The owner or management team can knowingly sign away their rights and assume risk. The articles here educate the reader about these various risks and how to reduce them in business by having others assume them.