Definition: Insurance workers compensation is a term used in insurance, specifically related to the provision of benefits or indemnity payments to workers who are injured or ill as a result of an occupational accident or injury sustained while performing work-related duties under a contract with a company that employs such workers. The word "insurance workers compensation" refers to a program or arrangement designed by employers to provide financial support and other benefits to injured or ill workers. These benefits may include medical care, rehabilitation services, loss of earnings, and other compensatory payments. An insurer is the employer who provides insurance coverage to an employee. The benefit provided under the compensation program can vary depending on the specific type of work performed by the worker and the circumstances surrounding the accident. In summary, insurance workers compensation is a term used in the context of providing financial support to injured or ill workers due to occupational accidents or injuries sustained while performing work-related duties in a company. It typically involves an employer providing coverage for medical expenses and other compensatory payments to workers who are injured or ill as a result of such incidents.
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