Which of the following is a component of workers' compensation coverage?

Prepare for the Manitoba IBAM Fundamentals of Insurance Exam. Use our quiz with multiple-choice questions, each offering hints and explanations. Get set to ace your exam!

Workers' compensation coverage primarily focuses on providing benefits to employees who suffer from work-related injuries or illnesses. This includes medical expenses, rehabilitation costs, and compensation for lost wages while the employee is unable to work due to their injury. The purpose of workers' compensation is to ensure that employees receive the care they need without the burden of financial distress, and it also helps protect employers from lawsuits related to workplace injuries.

The other options, which include comprehensive health insurance, general liability insurance, and homeowner's insurance, serve different purposes. Comprehensive health insurance covers a broad spectrum of healthcare costs for individuals, general liability insurance protects businesses from claims related to property damage and bodily injury occurring on their premises, and homeowner's insurance provides protection for one's home and personal property from risks such as fire, theft, or natural disasters. None of these options directly addresses the specific need for coverage around on-the-job injuries, making coverage for on-the-job injuries the correct answer in this context.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy