Workers compensation insurance is a type of insurance that provides benefits to employees who are injured or become ill due to their job. There are a variety of synonyms for workers compensation insurance, including workers comp, workman's comp, and occupational accident insurance. Other terms used to describe this type of insurance include employment injury insurance, industrial accident insurance, and workplace injury coverage. Regardless of the terminology used, workers compensation insurance serves an important purpose in protecting employees and employers by easing the burden of medical expenses and lost wages resulting from work-related injuries or illnesses.