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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Bensalem Motorcycle Accident Lawyer
Motorcycle accidents in Bensalem can shatter your life instant. In one moment, you’re going for a ride and in the next, you’re left with devastating injuries, massive medical bills, and an uncertain future. When the worst happens, you need the best help on your side. The Munley Law Bensalem motorcycle accident lawyers are committed to fighting for your rights, seeking a fair settlement, and helping you rebuild your life after a motorcycle crash. Call or fill out our online form for a free consultation today.
What Can Our Bensalem Motorcycle Crash Attorneys Do For You?
The Munley law firm handles every aspect of a personal injury case, from the initial investigations to courtroom litigation. Here’s what your lawyer will do to secure a settlement or verdict in your favor:
Handle the paperwork: Filing the paperwork for a personal injury claim is confusing and overwhelming. […]
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What Happens If You Fail to Report a Car Accident in Pennsylvania?
If you’re a driver in Pennsylvania, you’re required by law to report a car accident, no matter how minor the collision, and no matter whether you caused it or not. Failing to report a car accident can lead to serious legal and financial consequences: suspension of your driver’s license, fines up to $2,500, and potential criminal charges.
Your insurance company could use the lack of report as the basis for denying your claim, leaving you responsible for medical and repair costs.
Our seasoned Pennsylvania vehicle accident attorneys at Munley Law can help ensure you meet all reporting requirements and follow the rules for the best outcome. Contact our legal team for a free consultation about your case.
Pennsylvania’s Accident Reporting Laws
What do you need to know if you’re a driver involved in a vehicle accident? […]
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Helicopter Crash Lawyer
Helicopter accidents often result in severe injuries and long-term physical, emotional, and financial challenges. An experienced attorney can help you understand your legal options if you’ve been involved in a helicopter crash.
Several factors can contribute to these accidents, including mechanical failures, maintenance issues, or operational errors. At Munley Law, our helicopter accident lawyers have the expertise to thoroughly investigate the cause and help determine if you’re entitled to compensation.
Our aviation accident attorneys understand the complexities of aviation law and regulations. We’ll guide you through each step of your case, from investigation to resolution. Contact us for a free consultation to discuss how we can assist with your helicopter accident claim.
Investigating Helicopter Crashes and Determining Liability
After a helicopter crash, local law enforcement and emergency services may be the first on the scene. Although these parties are unlikely to handle the entire investigation, […]
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Building Collapse Lawyer
When a building collapse occurs, the consequences are devastating – often resulting in catastrophic injuries, loss of life, and
overwhelming financial burdens for victims and their families. At Munley Law, we understand the profound and life-altering impact of these accidents on your health, finances, and future. Our building collapse lawyers thoroughly investigate the cause of the collapse and identify all potentially liable parties, from property owners to contractors, engineers, and construction companies.
Working with structural engineering experts, we determine negligence and safety violations while gathering critical evidence, such as accident reports and witness accounts. Munley Law vigorously advocates to secure just payment for victims’ medical bills, lost income, emotional distress, and long-term care needs. With extensive experience handling catastrophic injury cases, we provide personalized, compassionate support throughout the legal process.
Our Approach to Building Collapse Cases
At Munley Law, […]
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Allentown Uber Accident Lawyer
The Allentown Uber accident lawyers at Munley Law know how to get you the compensation you need to recover from your injuries following an Uber accident. For 65 years, accident victims in the Lehigh Valley have come to Munley Law Personal Injury Attorneys, where our team of accident attorneys in Allentown have earned the highest possible client satisfaction rankings and are board certified by the National Board of Trial Advocacy.
When you or your loved ones find yourselves injured in an accident with an Uber driver, or a driver for any rideshare company, anywhere in the Lehigh Valley, don’t move forward with your accident claim on your own. You should first speak with an experienced Allentown car accident attorney at Munley Law, who will fight for the compensation are entitled to under Allentown law.
