Definition of "Second-injury fund"

Insurance fund set up by most states to encourage employers to hire handicapped workers. Where workers with existing handicaps suffer further work-related injuries or diseases that result in total disability, the employer is responsible for the workers compensation benefit only for the second injury or disease. The fund makes up the difference between the benefit for total disability and the benefit for the second injury. Second-injury funds are financed through general state revenues or assessments on workers compensation insurers.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Risk distribution included by type of coverage, by kind of risk, and by geographical location. ...

Maritime acts resulting in a liability circumstance falling under common law and statutory law. ...

No limitation under a contributory pension plan of an employee's right to receive vested benefits, regardless of whether or not the employer withdraws contributions. ...

Same as term Convention Examination: audit of the convention blank (NAIC Statement Blank) every third year as to all of the financial activities of a company; company claim practices; and ...

Term used in the reinsuring of disability income insurance policies in that, after an extended period of time expires (in addition to the elimination period found in the disability income ...

Membership organization of individuals especially trained in the application of actuarial mathematics, including compound interest, annuities, life contingencies, measurement of mortality ...

Condition in which buildings are built with sealed windows resulting in poor ventilation causing occupants to experience dizziness, nausea, respiratory problems, headaches, fatigue, sinus ...

Arrangement that provides for the reduction of estate taxes and the payment of tax-deductible life insurance premiums. The procedure is for a donor to present a charity with a gift of a sum ...

Extension of coverage available under the Standard Fire Policy. The standard policy only covers the perils of fire and lightning. The endorsement covers riot, riot attending a strike, civil ...

Popular Insurance Questions