Workers’ Compensation: What is it and why your business needs it

During the time of the industrial revolution and early 20th century, it was difficult for injured workers to obtain compensation and medical treatment for workplace-related injuries. The most likely way for employees to get compensation was to sue their employers, which was costly, time-consuming and uncertain for all parties involved. The modern workers’ compensation insurance system dates back to the late 1870s and early 1880s when Prussian Chancellor Otto von Bismarck enacted a system