The state of PA for workmens comep. Is considered a nofault state. Once they receive the claim from your imployers,the co. that you worked for is nolonger involved in paying you your salary. You should receive 66 and 1/3 of your salary,considered lost wages. You need to be off of work for at leasted one week before you start receiving workmen comp. checks.
The general rule would be that a settlment that is to replace income (compared to reimbursing for a loss of something, say eyesight), is taxable income. (Presumably on the grounds that the income it is compensating for would have been taxable, where as reimbursement for a loss wouldn't be). Certainly best to see the specifics of this settlement. I don't believe the fact half of it is assigned to you is really relevant.