BU353 Lecture Notes - Lecture 16: Ordinary Income, Group Insurance, Co-Insurance
Document Summary
Employees covered under either federal or provincial labour code. Two important features: employers must pay benefits for economic loss without regard to employer fault or negligence, employees cannot sue employers for either economic losses not covered by wc or for general damages. (cid:862) ole re(cid:373)edy(cid:863) rule e(cid:373)ployee"s o(cid:374)ly re(cid:373)edy agai(cid:374)st e(cid:373)ployer is to o(cid:271)tai(cid:374) (cid:271)e(cid:374)efits under wc program: benefit: employees did not have to prove employer negligence; employers shielded from tort. Three main benefits: payments of medical expenses, payments for lost income associated with temporary or permanent disability whether total or partial, death benefits. Majority of payout for lost income for permanent partial disability. Benefits paid to survivors similar to disability benefits. Weekly benefit is % of salary subject to minimum and maximum levels up to a certain amount. Lower wage employees receive higher % of wage replacement than high income employees. As shown earlier, although claims and injuries are falling, costs are increasing.
