Hawaii Revised Statutes 386-124 – The insurance contract
Terms Used In Hawaii Revised Statutes 386-124
- Compensation: means all benefits accorded by this chapter to an employee or the employee's dependents on account of a work injury as defined in this section; it includes medical and rehabilitation benefits, income and indemnity benefits in cases of disability or death, and the allowance for funeral and burial expenses. See Hawaii Revised Statutes 386-1
- Contract: A legal written agreement that becomes binding when signed.
- Director: means the director of labor and industrial relations. See Hawaii Revised Statutes 386-1
- Employer: means any person having one or more persons in the person's employment. See Hawaii Revised Statutes 386-1
Every policy of insurance issued by an insurer of an employer referred to in § 386-1 which covers the liability of the employer for compensation shall cover the entire liability of the employer to the employer’s employees covered by the policy or contract, and provide for the deductible under § 386-100, at the option of the insured. The policy also shall contain a provision setting forth the right of the employees to enforce in their own names either by filing a separate claim or by making the insurance carrier a party to the original claim, the liability of the insurance carrier in whole or in part for the payment of the compensation. Payment in whole or in part of compensation by either the employer or the insurance carrier shall, to the extent thereof, be a bar to the recovery against the other of the amount so paid.
All insurance policies shall be of a standard form, the form to be designated and approved by the insurance commissioner. No policy of insurance different in form from the designated and approved form shall be approved by the director.