Explain the Philosophy Behind the Original (And Today's) Worker's Compensation

question 57

Essay

Explain the philosophy behind the original (and today's) Worker's Compensation legislation. What significant benefit did workers obtain beyond simply an insurance scheme, and why was this benefit particularly significant to them?

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Definitions:

Remote

Referring to work, operations, or processes conducted away from a central office or location, often facilitated by digital communication technology.

Contingent Liability

A potential financial obligation that may arise in the future, dependent on the outcome of a specific event.

Reasonably Estimable

A term used in accounting to describe a cost or liability that can be accurately predicted or projected.

Contingent Liability

A potential financial obligation depending on the outcome of future events, not yet confirmed as a liability.