What is Insurance?
Insurance is, “a contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the “insurer” or “underwriter;” the other, the “insured” or “assured;” the agreed consideration, the “premium;” the written contract, a “policy;” the events insured against, “risks” or “perils;” and the subject, right, or interest to be protected, the “insurable interest.” (Black’s Law Dictionary 946. 4th Ed. Rev. 1968)
An insurance policy is a contract in which an individual or entity (the policyholder) pays an insurance company (the insurer) in regular payments in exchange for financial protection over specific risks or losses. For example, medical insurance helps to cover medical costs, such as hospital visits, hospital stays, and medications. Similarly, auto insurance helps to cover damages incurred from car accidents. Insurance payments are known as premiums. Insurance contracts typically limit the amount of costs that an insurance provider may be required to pay.
The McCarran-Ferguson Act (15 U.S.C. § 1011) grants many aspects of insurance regulation to individual state governments. However, federal laws like federal taxes do apply to insurance, and must be acknowledged. Insurance is important to the legal system, as it helps protect individuals, those who cause harm to individuals through negligence, and any third party that is faced with the burden of compensating for an injury.
More information about Insurance
Pedestrian Struck on Interstate 95 in South Philadelphia
A pedestrian was struck and killed while walking along Interstate 95 in South Philadelphia on December 10. According to news reports, the pedestrian was walking on the highway for unknown reasons around 11 pm when he was hit by a vehicle. The pedestrian was pronounced dead at the scene.
I-95 southbound was closed for several hours between I-676 east and Market Street exits.
Our thoughts are with the victim’s family.
Pedestrian Accidents Increase During the Nighttime
According to recent data from the Federal Highway Administration, 76 percent of pedestrian fatalities occur at night, despite lower pedestrian activity during these hours. Some of the common reasons why nighttime pedestrian accidents are so dangerous include:
- Limited Visibility: Judging distances and speeds in low-light conditions can be difficult. Shadows and the glare from oncoming headlines can obscure the pedestrian from the driver. […]
More information about Insurance
Allentown Personal Injury Lawyers
An Allentown personal injury lawyers can be the difference between struggling with medical bills and securing the compensation you need following a serious auto accident. At Munley Law, we’ve built our reputation by consistently outmaneuvering insurance companies and winning substantial settlements for our clients throughout the Lehigh Valley. While other law firms might pressure you to accept a quick, inadequate settlement, we meticulously build your case and push back against lowball offers – often doubling or tripling initial compensation offers through aggressive negotiation and litigation.
Don’t let insurance adjusters minimize your suffering or deny you fair compensation. Our record of multi-million dollar verdicts proves our accident attorneys know how to win, and we’re ready to put that experience to work for you. Contact our personal injury law firm today for a free consultation and learn why many injured Lehigh Valley residents trust Munley Law to fight for their future. […]
Read MoreMore information about Insurance
Disposal Worker Injured by Pickup Truck in Lancaster County Crash
A disposal worker was injured in Lancaster County on the morning of December 9 after being hit by a pickup truck. According to news reports, the incident happened around 5:30 a.m. along South State Street in West Earl Township. The worker had just dismounted from the trash disposal truck when he was struck by the truck.
The worker sustained multiple injuries and was transported to the hospital, where he is in stable condition. Police say the crash is still under investigation.
Workers’ Compensation and Car Accidents
Getting into a car accident while on the job can be a complex situation as it involves both personal injury and workers’ compensation elements. Whether you’re a delivery driver, traveling salesperson, or simply running a work errand, understanding your rights and the steps to take after a work-related car accident is important for protecting your health and financial well-being. […]
Read MoreMore information about Insurance
What Does a Wrongful Death Lawyer Do?
When faced with the tragic loss of a loved one due to someone else’s negligence or wrongful actions, understanding how a wrongful death lawyer can help becomes essential. These legal professionals specialize in wrongful death claims, guiding families through the legal process while advocating for their rights.
A wrongful death attorney helps families file their claims and build strong cases. They work diligently to gather evidence and establish who was at fault. They also fight to secure fair compensation for the family’s devastating losses. The process involves a thorough investigation of the death. They often bring in expert witnesses to strengthen the case. Throughout the process, they handle all negotiations with insurance companies.
Each element plays a vital role in building a compelling case to, ultimately, hold the responsible parties accountable. With a focus on both legal expertise and compassionate support, […]
Read MoreMore information about Insurance
Reading Car Accident Lawyer
When the unthinkable happens, and you’re facing the aftermath of a car accident in Reading, a skilled Reading car accident lawyer can be your lifeline. Navigating the complex legal landscape after a crash requires expertise, finesse, and unwavering dedication. You need an advocate who understands the intricacies of Pennsylvania law, someone who can cut through the red tape and fight tirelessly for the compensation you deserve.
If you were involved in a car accident in Reading, PA, our car accident attorneys at Munley Law are ready to help. Contact us today to schedule a free consultation. There is no fee unless we win your case.
Why Reading Car Accident Victims Choose Munley Law
For 65 years, our board-certified car accident attorneys have fought for accident victims across Berks County, recovering millions in settlements and verdicts. When Reading residents need powerful legal representation, they trust Munley Law. […]
