It means there is a monopoly of insurance carriers- One carrier. That is usually a state government agency. If you have employees in that state covered by Worker's Comp, you must buy insurance coverage from that state agency.
My heartfelt apologies, I don't mean to be rude. But, is this a loaded question? If it is a monopoly, there's no competition. Therefore you can determine the price any way you want. {eijgniy: hey there is such a market called monopolistic competition.
-A change in labour requirement might mean redundancies and compensation payments for some of the workers. -the skill level required to operate more mechanised systems is often much lower, which will demotivate multi-skilled workers. -more investment is required in preventive maintenance as the production system becomes more mechanised.
hiring workers
"compenation " is gibberish. -You may mean 'compensation' which is a form of payment for something.
I have no idea what that is supposed to mean. I am sorry but better luck next time. But until we meet again on Wiki answers I will Be thinking of you! Not really but you can imagine that I am. And My name is of no convenience.
As of 7/1/2008, there are 4 states in which the workers' compensation system is considered "monopolistic". This means that the individual state sets rates and operates a state administered fund of workers compensation insurance, vs. the coverage being written in a competitive market by private insurers. Currently the only monopolistic states are North Dakota, Ohio, Washington and Wyoming.
North Dakota, Ohio, Washington & Wyoming. Also, the US Virgin Islands and Puerto Rico are monopolistic, and AZ, CA, CO, ID, MD, MI, MN, MT, NY, OK, OR, PA & UT are option states. Could you explain what option states mean? Does that mean you have the option for them to be monopolistic if you want to of what exactly?
No. If you mean state regulated Workers' Compensation coverage, (and don't have it confused with Social Security) the Federal government does not mandate anything about the system and certainly does not require employees to contribute.
SLU - scheduled loss of use. when a loss to a part or member of a body can be determined, e.g. amputation of a finger, 50% loss of vision.
Wage - A wage is a compensation, usually financial, received by workers in exchange for their labor. Salary - A fixed amount of money paid to a worker
What does specialized workers mean?
The term "WCB body" typically refers to the Workers' Compensation Board, which is a governmental agency in various regions that oversees the administration of workers' compensation programs. These programs provide financial and medical benefits to employees who are injured or become ill due to work-related activities. The WCB ensures that claims are processed fairly and that injured workers receive the necessary support and rehabilitation services. Additionally, it often works to promote workplace safety and compliance with labor laws.
Desired compensation is what one requests / expects in return for a perceived injury, accident or slight. If you hit my car with yours, my desired compensation is a new car. It doesn't mean that is what I deserve or will get.
My heartfelt apologies, I don't mean to be rude. But, is this a loaded question? If it is a monopoly, there's no competition. Therefore you can determine the price any way you want. {eijgniy: hey there is such a market called monopolistic competition.
Compensation in math means, adding and subtracting the same number to make the sum or difference easier to find.
The phrase "deferred compensation plan" is defined to mean a compensation package in which the recipient will receive the funds at at future date. Examples include pensions and retirement plans.
Total Employment Compensation