Abstract
The typical compensation act provides that the injured or, in a case of fatality, his dependents, shall be paid a certain percentage of his average weekly wages but not more than a specified maximum amount nor less than a specified minimum amount, unless the wages of the injured are less than the minimum, in which dase the actual wages shall be paid. This provision for indemnity benefits with variations in the percentage rates and the minimum and maximum amounts paid weekly is found in compensation acts generally.(1) A particular act may further provide several different percentage rates and sets of limits dependent on the type of injury or, in some cases, the number of dependents.(2) The minimum and maximum amounts paid weekly are sometimes not explicit but depend upon minimum and maximum weekly wages.
Volume
XVIII
Page
128-149
Year
1931
Categories
Actuarial Applications and Methodologies
Regulation and Law
Insurance Law
Business Areas
Workers Compensation
Publications
Proceedings of the Casualty Actuarial Society