A more thorough explanation:

Term: WC

Definition: WC is an abbreviation for Workers' Compensation. It is a type of insurance that provides benefits to employees who are injured or become ill as a result of their job.

Example: If an employee falls off a ladder while working and breaks their arm, they may be eligible for workers' compensation benefits to cover their medical expenses and lost wages while they are unable to work.

Explanation: This example illustrates how workers' compensation works in a real-life scenario. The injured employee would file a claim with their employer's workers' compensation insurance provider, who would then provide benefits to cover their medical expenses and lost wages. This helps to protect both the employee and the employer from financial hardship resulting from workplace injuries or illnesses.