A payment, in addition to the compensation received by the beneficiaries of an accident insurance or life insurance policy, to be made paid if the insured suffers an accidental death. See also double indemnity. accident insurance See insurance (casualty insurance). accommodated party See accommodation party. accommodating party See accommodation party. n.1Something accommodation done, such as providing a loan or signing an accommodation paper as a surety for another, that is done as a favor w...