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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Slip and Fall Attorney
Our Slip and Fall Attorney is Here to Help
As the victim of a slip and fall accident, you may be entitled to compensation. If the fall wasn’t your fault, a slip and fall accident lawyer can help you recover costs associated with your injury, including medical bills, lost wages, and even pain and suffering.
Don’t wait – the sooner you speak with a Munley Law slip and fall lawyer, the sooner you can begin recovering financial compensation. Schedule your free consultation today and take the first step to getting your life back on track.
What is Premises Liability?
Premises liability is a law that holds property owners accountable for any dangerous conditions on their property, whether it is a grocery store, an apartment building, or a single-family home. A property owner is responsible for keeping their property reasonably safe for visitors. […]
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What Are the Common Causes of Truck Accidents in Easton, PA?
The consequences can be devastating when a massive commercial truck collides with a smaller passenger vehicle. A truck accident can have swift and long-lasting effects on your life.
Understanding the causes of truck accidents in Easton is important for both prevention and seeking justice. If you’ve been the victim of a truck crash and plan to make a truck accident claim.
At Munley Law, our team of experienced Easton truck accident attorneys has seen firsthand the devastating effects of truck accidents. We are dedicated to helping Easton and Pennsylvania victims seek the compensation they deserve. If you or a loved one has been injured in a truck accident, please call or message us for a free case evaluation.
What Causes Truck Accidents to Occur in Easton, PA?
Some of the most common causes of truck accidents in Easton include:
- Driver Fatigue: Truck drivers often face tight deadlines, […]
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What Kind of Compensation Can You Receive For a Lyft Accident in Easton?
Car accidents can be traumatizing experiences, leaving accident victims with both serious physical injuries and immense emotional distress. They can also be expensive: medical expenses, lost wages, property damage, and more can pile up after a car accident, adding a financial burden to an already stressful situation.
The situation takes on another layer of complexity if you have been in a Lyft car accident. When a large company like Lyft is involved, what does the legal process look like? How can you receive compensation for your losses? And when you do, what kind of compensation will it be? It’s important to speak with an Easton Lyft accident lawyer to learn what compensation is available following a Lyft accident in Easton.
How Much Compensation Could I Receive in a Lyft Accident?
There is no way to provide an accurate compensation estimate without knowing the case details, […]
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How Much Are Most Truck Accident Settlements in Scranton, PA?
Truck accidents can result in devastating consequences, both physically and financially. And when it comes to truck accidents in Scranton, PA, the stakes can be even higher. As one of the largest cities in Northeastern Pennsylvania, Scranton sees a significant amount of truck traffic on its roads and highways. Unfortunately, this also means a higher likelihood of truck accidents occurring.
One of truck accident victims’ most common questions is how much they can expect to receive in a settlement. Let’s explore the average settlements for truck accidents in Scranton and the importance of hiring a Scranton truck accident lawyer to ensure you receive fair compensation for your injuries and damages.
Why Are Truck Accident Cases So Complex?
Navigating the aftermath of a truck accident is akin to untangling a complicated web. The situation often involves various participants that extend beyond the victim and the truck driver. […]
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What Is the Number One Injury For Truck Drivers in a Truck Accident in Scranton?
Whiplash is the number one injury for truck drivers involved in a truck accident in Scranton. Truck accidents are dangerous for those in the other vehicle and the truck driver. A sudden crash can make their head jerk back and forth, causing whiplash. If you are a truck driver involved in a trucking accident in Scranton, PA, contact a Scranton truck accident lawyer near me to learn your legal options and to see what your next steps should be.
What Are the Risks of Driving a Commercial Truck in Scranton?
Navigating the roads of Scranton, Pennsylvania, is no small feat for truck drivers. With challenges presented by bustling traffic, ever-changing weather patterns, and the distinct hilly landscape, every journey tests skill and endurance.
These challenges can be heightened by the demand for long driving hours, leading to fatigue and potentially compromising alertness. […]
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