Final answer:
Workman's compensation insurance is a type of insurance that compensates a worker for a portion of his or her lost wages when they suffer an injury on the job.
Step-by-step explanation:
Workman's compensation insurance is a type of insurance that compensates a worker for a portion of his or her lost wages when they suffer an injury on the job.
This insurance is different from other types of insurance such as life insurance, health insurance, and auto insurance. Workman's compensation insurance specifically focuses on providing financial support to workers who are unable to work due to work-related injuries.
For example, if an employee falls and injures their back while working, workman's compensation insurance would compensate them for a portion of their lost wages while they are recovering and unable to work.