Benefits, Costs, and Cycles in Workers' Compensation

Workers' compensation insurance presents a set of institutional characteristics that are unique. For every other form of insurance, both the insurer and the coverage provided under the policy are completely controlled either by the federal or a state government, or by an arrangement between the insured and a property-casualty insurer. Unemployment insurance, Social Security, and bank-deposit insurance are examples for which a legis­ lative body sets the benefits. and a government agency pre...