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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Can Parents Be Held Liable for Their Teen’s Car Accident?
When your teenager starts driving, it opens up a new world of independence for them – and a new realm of responsibility for you as a parent. If your teen is involved in a car accident, you could find yourself legally and financially liable for any injuries or property damage they cause.
Parents should understand that teens face higher risk of motor vehicle crashes due to their inexperience and tendency toward distraction. And if your teen does get into a car accident, it can have serious implications for your entire family’s financial future.
Why Teens Pose an Increased Risk for Car Accidents
Statistics consistently show that teenage drivers have higher accident rates than any other age group. In fact, motor vehicle crashes are among the leading causes of death for teenagers aged 16-19. Statistically, the motor vehicle crash death rate for male drivers ages 16–19 years is three times as high as the death rate for female drivers in the same age group. […]
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Upper Darby Truck Accident Lawyer
Upper Darby’s highways and busy city streets are filled with passenger vehicles, tractor trailers, and everything in between. When trucks and cars collide, the aftermath can be catastrophic. From traumatic brain injuries to lost limbs, severe injuries can be just the tip of the iceberg for accident victims and their families. At Munley Law, we’ve guided hundreds of truck accident victims through these devastating crashes. Since 1959, our team has secured multi-million dollar verdicts against negligent trucking companies and their drivers.
Our Upper Darby truck accident lawyers are recognized national leaders in commercial truck litigation. We’ve fought and won cases against every major trucking company in America, served on the boards of national trucking safety organizations, and helped shape the laws that protect Pennsylvania drivers from dangerous trucking practices.
After an accident, the trucking company’s insurance adjusters may pressure you to accept a low settlement. […]
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Upper Darby Personal Injury Lawyer
If you need an Upper Darby personal injury lawyer, Munley Law provides experienced legal representation for accident victims throughout Delaware County. Our law firm has secured millions in compensation for clients who have suffered injuries due to car accidents, workplace incidents, medical malpractice, and other instances of negligence.
Our attorneys take on all types of injury cases in Upper Darby, from medical malpractice claims to multi-vehicle accidents. We handle the investigation, documentation, and legal work while you recover. Each client works directly with a senior attorney who manages their case from start to finish.
Many of our clients come to us after trying to handle insurance claims on their own. They quickly discover that insurance companies care more about profits than paying fair compensation. We step in, take over communications with insurers, and fight to get you the money you need to cover medical care, […]
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Bensalem Spinal Cord Injury Lawyer
A spinal cord injury can transform every aspect of your life, from daily routines to future plans. At Munley Law, we’ve helped spinal cord injury victims throughout Pennsylvania secure the compensation needed for medical care, lost wages, and ongoing support. Our legal team has recovered millions for clients, with proven results in Bucks County courts.
Contact a Bensalem spinal cord injury attorney at Munley Law today for a free consultation. You don’t pay unless we win your case.
The Impact of Spinal Cord Injuries on Bensalem Injury Victims
Spinal cord injuries are serious and come with heavy physical and financial burdens. Medical bills start mounting from day one, often reaching $350,000 or more in the first year alone. Most Bensalem residents receive initial treatment at Jefferson Hospital’s Regional Spinal Cord Injury Center or Magee Rehabilitation Hospital, followed by months or years of specialized care. […]
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Paralysis Injury Lawyer
When someone else’s negligence leads to paralysis, you need clear answers about your rights and your future. Whether you were in a car accident, suffered medical malpractice, or were injured during recreation or sports, Munley Law’s paralysis injury attorneys can help.
Our paralysis injury lawyers understand that a brain or spinal cord injury can transform your life in an instant. For 65 years, Munley Law has helped paralysis victims recover the compensation needed to adapt to their new reality. We handle cases involving partial or complete paralysis that resulted from someone else’s negligence.
Our attorneys work directly with medical experts, life care planners, and economists to determine the full impact of your paralysis injury – from ongoing medical care to home modifications and lost income.
Catastrophic injuries will change your life, but Munley Law can help ensure your well-being. Contact our experienced paralysis injury lawyers today for a free consultation. […]
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