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
How Long Does an Insurance Company Have to Settle a Car Accident Claim in PA?
Under the law, your insurance company has a time limit of 15 days to notify you if your claim has been accepted or
rejected upon filing. The average time to respond is usually within a few days. However, your insurance provider can request additional investigation time if you have questions regarding your claim or submitted incomplete insurance forms.
Insurance coverage can quickly become a mess when understanding what’s covered and what’s not. With the help of a Pennsylvania car accident lawyer from Munley Law, you can rest easy knowing your legal claim is handled with the care and dedication it requires.
How Do Car Accident Settlements Work?
You must take a few steps to begin a car accident settlement in Pennsylvania. The first is to seek medical treatment following your accident. You’ll also need to file a police report if officers were not called to the accident scene and submit the accident to your insurance provider. […]
Read MoreMore information about Insurance
An Insurance Adjuster Calls After Your Car Accident. What Should You Do?
How to Interact with Insurance Adjusters After a Car Accident
If you or a loved one have been in a car accident, your main focus should be on caring for and recuperating from injuries and the trauma that has been endured. Insurance claim adjusters often prey upon victims’ vulnerability by trying to negotiate early settlements, and by getting the injury victim to make statements that can infringe upon how much you are truly entitled to. At this time, thinking about recovering compensation from insurance companies may seem stressful and the last thing that you want to worry about; a car accident lawyer can alleviate these stresses. You need an experienced car accident lawyer that has a proven track record.
For over 60 years, the award-winning personal injury lawyers at Munley Law have fought for the rights of accident victims throughout Pennsylvania. […]
Read MoreMore information about Insurance
What Age Group Causes the Most Car Crashes?
Drivers aged 16 to 19 in the United States cause the most car crashes. These young drivers have the highest crash risk among all age groups. Despite being less experienced drivers, they often engage in risky driving behavior like speeding and distracted driving. Having teen passengers in the car can increase the likelihood of fatal teen crashes. Accident lawyers usually deal with cases involving young drivers who were not paying attention or driving recklessly, leading to serious accidents. Licensed drivers in this age group are more likely to be involved in motor vehicle accidents than older, more experienced drivers.
Fatal crashes are prevalent among teen drivers. The death rate for drivers ages 16 to 19 is higher than any other age group. Many factors contribute to this high rate, including their lack of experience and propensity for risky driving behavior. Distracted driving, whether due to mobile phones or other distractions, […]
Read MoreMore information about Insurance
How to File a Truck Accident Lawsuit
Every time we get in our car, whether we’re going to work, to pick up the kids, to dinner, or anything in between, we expect to arrive safely at our destination. Most of the time, this is exactly what happens. But the devastating truth is that car accidents are a very real risk any time you’re on the road.
While all accidents are terrifying, accidents involving trucks and other commercial motor vehicles are particularly dangerous. A truck accident is likely to cause far more damage and more serious injuries than most other kinds of motor vehicle accidents, given the size and weight of something like a semi-truck. It’s not uncommon for victims to endure something as serious as a traumatic brain injury.
Accidents involving large trucks can be life-changing events for all those involved, and in most cases, the inhabitants of passenger vehicles are the ones who bear the brunt of the damage. […]
Read MoreMore information about Insurance
What Are the Steps in a Personal Injury Lawsuit?
If you’ve been injured in an accident due to someone else’s negligence, you need an experienced personal injury attorney with a successful track record to help win your case. Knowing the detailed steps to a personal injury lawsuit will keep you be well-informed about what can make proper compensation a reality. These cases can be complex, especially if the specifics of your personal injury case involve many parties, long-term medical care, or other nuances. Proving negligence will be key to your case, and your best chance in being justifiably compensated can be met by working with a personal injury lawyer.
Munley Law Personal Injury Attorneys has been helping accident victims for more than 60 years; we specialize in personal injury cases and our attorneys have tried thousands of personal injury lawsuits. Munley Law Personal Injury Attorneys has the knowledge, the power, and the expertise to get you what you deserve. […]
Read More
