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Insurance Glossary W





Waiver of subrogation

An insurer has the right of subrogation; however, it may waive that right through this method. 

Wear and tear exclusion

A common heading for an "all risks" exclusion relating to a group of events that do not represent risk at all. Property will become worn out and torn; it will rust, settle, become rotted, infested, marred, scratched, etc. It is easy to distinguish however between the marring that occurs over time (excluded) and marring that occurs when a concrete block is dropped into a fine wooden table.

Workers compensation insurance

Coverage that conforms to the workers compensation laws of the states in which it written.

Workers compensation and Employers liability insurance

A type of liability insurance not included in the Commercial General Liability coverage part. Workers Compensation makes benefits payable for injuries to, disability or death of an employee without regard to liability. Employers Liability covers the common-law liability of an employer for injuries to an employee. Because these coverages are related specifically to employer-employee relationships, they are not characterized as general liability.


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