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.
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Reading Personal Injury Lawyer
An unexpected injury can completely disrupt your life. You deserve justice. At Munley Law, our Reading personal injury lawyers helped countless clients in Berks County recover fair compensation for their injuries, including medical bills, lost wages, and pain and suffering.
Don’t let the insurance companies take advantage of you. Our experienced personal injury attorneys will fight for injury victims to protect your rights and get you the compensation you deserve. Contact us today for a free consultation. Let us help you get your life back on track.
Types of Personal Injury Cases Munley Law Handles in Reading, PA
Accidents happen at any time. Whether it’s car accidents at a busy intersection, a slip and fall incident, a collision with a commercial truck, or an injury sustained at work, these incidents can have devastating consequences. […]
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Two Die in Truck Crash in Lehigh County, PA
Two people died, and four were injured in a tractor-trailer accident in Upper Saucon Township, PA, on December 9. According to news reports, the crash occurred before 5 a.m. on Interstate 78 eastbound, approximately one mile past exit 60 for Route 309 South/Quakertown.
Police reports say three people were trying to push a minivan out of the right lane of travel when a tractor-trailer allegedly hit the minivan before hitting another truck. One of the people pushing the minivan was killed, as well as the driver of the truck that struck the car. Both were pronounced dead at the scene.
I-78 eastbound was closed to traffic for hours as the Pennsylvania State Police and the Lehigh County District Attorney’s Office investigated the accident.
Breaking Down on the Highway: A Guide to Staying Safe
If your car unexpectedly breaks down on the highway, […]
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What is the Penalty for a Hit and Run in Philadelphia?
If you’re involved in a car accident in Philadelphia, leaving the scene can result in serious penalties, especially if someone is injured in the accident. You could be facing huge fines and potential injuries. Many times, injury victims are confused about what their legal rights are, especially if the driver is never found. Here’s what you need to know about protecting your interests and seeking compensation.
If you were involved in a car accident with a hit and run driver, our Philadelphia car accident lawyers can help Contact Munley Law today to schedule a free consultation.
Legal Obligations After a Philadelphia Car Accident
Pennsylvania law mandates that you must stop your vehicle immediately if you’re involved in an accident. You are required to exchange information with the other parties involved. This typically includes your name, address, and vehicle registration number. For accidents involving injury, […]
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What is the Average Compensation for a Pedestrian Hit by a Car in Philadelphia?
Philadelphia sees hundreds of pedestrian accidents each year, with Center City and Roosevelt Boulevard being common accident sites. Being hit by a car as a pedestrian is traumatic, and understanding what compensation you might receive can help ease some of your worries. While every case is different, pedestrian accident settlements in Philadelphia typically range from $50,000 to $200,000, with some cases reaching into the millions depending on several factors we’ll explore below.
If you were involved in a pedestrian accident in Philadelphia, Munley Law is here to help. Contact our Philadelphia pedestrian accident lawyers today to learn your legal options and get your questions answered.
What Determines Compensation Amount in a Philadelphia Pedestrian Accident Case?
The size of your settlement depends on multiple factors working together. Medical bills are usually the starting point—everything from ambulance rides and emergency room visits to ongoing physical therapy is counted. […]
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Personal Injury Lawyer
A personal injury lawyer can be the difference between struggling with medical bills and securing the compensation you deserve. At Munley Law, we’ve built our reputation by consistently outmaneuvering insurance companies and winning substantial settlements for our clients. While other 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 we know how to win, and we’re ready to put that experience to work for you. Contact our personal injury lawyers today for a free consultation and learn why many injured clients trust Munley Law to fight for their future.
How A Personal Injury Attorney Can Help With Your Case
As the injured victim, […]
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