Final answer:
Workers' compensation in New York is a system that provides benefits to workers who are injured on the job. It has benefits and drawbacks for both employees and employers.
Step-by-step explanation:
Workers' compensation in New York refers to a system where employers are legally required to contribute a portion of their employees' salaries into funds that provide benefits to workers who are injured on the job. These funds are typically managed at the state level. The benefits of workers' compensation for employees include medical expenses, lost wages, and rehabilitation assistance. However, some drawbacks for employees may include limited compensation and potential challenges in proving the extent of their injuries. For employers, the benefits of workers' compensation include protection against potential lawsuits and the assurance that injured employees receive necessary medical care. However, the drawbacks for employers include the financial burden of paying insurance premiums and the potential for increased costs if there are frequent claims or fraudulent activities.