05th Jul 2010
Accident Compensation
What Is Accident Compensation?
The phrase accident compensation most often relates to accident insurance. However, insurance is just part of the whole topic of accident compensation. In Australia, individuals who have an accident suffer an injury may be entitled to benefits under accident compensation law, which was last amended in 2007. The law allows for an injured person to collect various compensation benefits from one or more of the following sources: workers compensation, public liability, medical indemnity, motor transport compensation and self-insurance and other arrangements.
To be considered eligible for compensation after an accident, it must be classified as either “no fault” or “common law”. In a no fault scheme, the circumstance by which the accident happed is taken into consideration. The most common examples of these are workplace and motor vehicle accidents. Benefits are usually paid through statutory benefit schemes.
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