MNO3706 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE August 2024 ; 100% TRUSTED Complete, trusted solutions and explanatio ns. 1. Explain the objectives of worker’s compensation. (10) Worker’s co mpensation is a system of insurance designed to provide financial and medical benefits to employees who suffer work -related injuries or illnesses. The objectives of worker's compensation include: 1. Financial Protection Objective : To ensure that employees who are injured or become ill due to work -related activities receive compensation for lost wages and medical expenses. Explanation : Worker’s compensation provides wage replacement benefits to employees who are unable to work due to a work -related injury or illness. This helps to ensure that workers do not face financial hardship while they are recovering and unable to earn a regular income. Example : If an employee breaks a leg in a workplace accident, worker’s compensation would cover a portion of their lost wages while they are unable to work. 2. Medical Benefits Objective : To cover the costs of medical treatment and rehabilitation required due to work -related injuries or illnesses.
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