Worker's Compensation Insurance

28 Commercial Lines Insurance coverages for businesses, commercial institutions, and professional organizations, as contrasted with personal insurance. Commission A portion of the policy premium that is paid to an agent by the insurance company as compensation for the agent’s work. Conditions The portion of an insurance contract that sets forth the rights and duties of the insured and the insurer. Consequential Bodily Injury In workers’ compensation, special circumstances can arise when a work-related injury causes some sort of non-work related injury. Coverage Protection that is provided under an insurance policy. Declarations (DEC) Page Usually the first page of an insurance policy that contains the full legal name of the insurance company, the policy number, effective and expiration dates, premium payable, the amount and types of coverage, and the deductibles. Deductible The amount of the loss that the insured is responsible to pay before benefits from the insurance policy are payable. Dual Capacity In workers’ compensation, an employer may be liable two ways to an employee who incurs bodily harm on the job as a result of using a product or service produced by that employer. The employee is eligible for workers’ compensation benefits and may also sue the employer because of the defectiveness of the injuring product or service.