Occupational Safety And Health Act (osha)
Definition of "Occupational safety and health act (osha)"
1970 legislation that set federal standards for workplace safety and imposed fines for failure to meet them. A controversial law, it took much of the power from the states for regulating workplace safety. It authorized the U.S. Department of Labor to have federal compliance officers make surprise inspections of business firms. It set up the national commission of state workers compensation laws to recommend upgrade of worker protection, including higher disability benefits, compulsory coverage, and unlimited medical care and rehabilitation. Most states adopted the recommendations, which incidentally led to increases in workers compensation insurance premiums.
Popular Insurance Terms
Same as term Office Burglary and Robbery Insurance: coverage for the office of a business, or an individual in a general office building or other structure. Includes burglary of a safe; ...
Damage of property that is not total; average (in sense of partial) loss. ...
Method of using reinsurance to counteract the unexpected impact of business on the policyholder surplus. ...
Total estimated cost incurred by a person or persons, a family, or a business resulting from the death or disability of a wage earner (key employee), damage or destruction of property, ...
(stop loss) amount over which a health insurance plan pays 100% of the costs in a percentage participation plan. Here, an insured shares costs with the insurer according to some ...
Commission paid to an agent after the first year commission has been paid to that agent. Renewal commissions generally form a substantial portion of an agent's income after four years in ...
Coverage on an all risks basis through an endorsement to a business property insurance policy in which each sign is specifically scheduled, subject to the exclusions of wear and tear, and ...
Expense of defending a lawsuit. To mount a legal defense against civil or criminal liability, a defendant faces expenses for lawyers, investigation, fact gathering, bonds, and court costs. ...
Report showing sources of income and expenses of an individual. ...
Have a question or comment?
We're here to help.