Ebook: Benefits, Costs, and Cycles in Workers’ Compensation
- Tags: Finance/Investment/Banking, Labor Economics, Business/Management Science general
- Series: Huebner International Series on Risk Insurance and Economic Security 9
- Year: 1990
- Publisher: Springer Netherlands
- Edition: 1
- Language: English
- pdf
Workers' compensation insurance presents a set of institutional charac teristics 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 prescribes the in surance premium. By contrast, the coverage and premiums for automobile, homeowners, and fire insurance are individual contractual arrangements between a policyholder and one of the more than 1800 U. S. property casualty insurance companies. Workers' compensation insurance, however, is a hybrid in which state legislatures stipulate the terms of coverage, while regulated competition is the major determinant of prices. State legislatures enact statutes that prescribe the replacement rate and duration of indemnity benefits, as well as full reimbursement of medical expenses. And although the manual rates for workers' compensation insurance continue to be administered by a prior approval process in most states, the competitive-market price for coverage is achieved through a variety of price-modification plans (Appel and Borba, 1988).
Content:
Front Matter....Pages i-xv
Have Increases in Workers’ Compensation Benefits Paid for Themselves?....Pages 1-22
Heterogeneity Bias in the Estimation of the Determinants of Workers’ Compensation Loss Distributions....Pages 23-43
Workers’ Compensation Disability Benefits during Retirement Years: Proper and Present Role....Pages 45-77
Rehabilitation and Workers’ Compensation: Incompatible or Inseparable?....Pages 79-114
Mostly on Monday: Is Workers’ Compensation Covering Off-the-Job Injuries?....Pages 115-127
Premium and Loss Cycles in Workers’ Compensation....Pages 129-162
Discounted Cash-Flow Ratemaking Models in Property—Liability Insurance....Pages 163-181
Back Matter....Pages 183-186
Content:
Front Matter....Pages i-xv
Have Increases in Workers’ Compensation Benefits Paid for Themselves?....Pages 1-22
Heterogeneity Bias in the Estimation of the Determinants of Workers’ Compensation Loss Distributions....Pages 23-43
Workers’ Compensation Disability Benefits during Retirement Years: Proper and Present Role....Pages 45-77
Rehabilitation and Workers’ Compensation: Incompatible or Inseparable?....Pages 79-114
Mostly on Monday: Is Workers’ Compensation Covering Off-the-Job Injuries?....Pages 115-127
Premium and Loss Cycles in Workers’ Compensation....Pages 129-162
Discounted Cash-Flow Ratemaking Models in Property—Liability Insurance....Pages 163-181
Back Matter....Pages 183-186
....