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
Norristown Workers’ Compensation: Specific Loss Benefits
If you find yourself here, you likely have questions about specific loss benefits, a crucial aspect of workers’ compensation that pertains to work-related injuries resulting in the permanent loss or disfigurement of certain body parts or functions. In this detailed guide crafted just for you, we delve into the nuances of specific loss benefits within the context of Norristown, your home.
As an injured worker in Norristown, you’re not just seeking legal assistance; you’re searching for a team of experienced professionals who understand the local landscape. Our dedicated Norristown workers’ compensation lawyers at Munley Law specialize in ensuring that you receive every benefit you’re entitled to under Pennsylvania’s Workers’ Compensation Act. We understand the complexities of workers’ compensation law and the challenges that injured workers face. You deserve every penny of the benefits you are entitled to, especially during the physically and emotionally challenging times following a work-related injury or occupational disease. […]
Read MoreMore information about Insurance
What Is the Average Brain Injury Settlement Value in Allentown?
Brain injuries, ranging from mild concussions to severe traumatic brain injuries (TBI), can have a profound impact on an individual’s life. These injuries often result in long-term cognitive, emotional, and physical impairments, affecting not only the victims but also their families. The consequences can include significant medical expenses, loss of income, and reduced quality of life, making the understanding of settlement values important for victims seeking compensation. That’s why it’s important to speak with an experienced Allentown brain injury lawyer to learn what your options are.
When it comes to settlements for brain injuries, numerous factors come into play, such as the severity of the injury, the circumstances surrounding the accident, and the resulting damages. In Allentown, Pennsylvania, these settlements can be particularly complex due to the city’s unique legal landscape and the local court system. Understanding the average brain injury settlement value in Allentown is vital for victims and their families. […]
Read MoreMore information about Insurance
What Is the Statute of Limitations For a Slip and Fall Injury in Philadelphia?
Philadelphia, the City of Brotherly Love, is renowned for its rich history, iconic Liberty Bell, and irresistible cheesesteaks. Its unique blend of historic charm and modern urban life attracts millions every year. Yet, like any bustling city, accidents such as slip and fall injuries are not uncommon on its cobblestone streets and contemporary establishments. Understanding the statute of limitations — a legal term that refers to the set duration within which one must initiate legal proceedings from the date of an alleged offense — becomes vital in such scenarios.
This time limit serves to ensure fairness in legal claims and prevent stale claims from arising. For anyone in Philadelphia who has experienced a slip and fall, being aware of these time constraints is crucial. Such knowledge can mean the difference between receiving due compensation or missing out due to a legal technicality. […]
Read MoreMore information about Insurance
Williamsport Slip and Fall Lawyer
Williamsport is not just the county seat of Lycoming County; it is a city steeped in history and community spirit. Nestled along the West Branch Susquehanna River, Williamsport is renowned for its picturesque landscapes and vibrant cultural scene.
Williamsport PA is not immune to accidents and injuries. Slip and fall accidents can happen anywhere, whether you are enjoying a stroll downtown, shopping at a local business, or simply going about your daily routine.
At Munley Law, we understand the physical, emotional, and financial toll that slip and fall injuries can take on you and your family. Our dedicated attorneys are here to help you navigate the legal process, fight for your rights, and secure the financial compensation you deserve. With our deep roots in the community, we are the trusted choice for legal representation in Williamsport and beyond.
If you or a loved one has been injured in a slip and fall accident, […]
Read MoreMore information about Insurance
Upper Darby Lyft Accident Lawyer
Upper Darby, nestled in the bustling metropolitan area of Pennsylvania, has witnessed a surge in the popularity of rideshare services like Lyft. As these services become an integral part of our daily transportation, the unfortunate reality is that Lyft accidents are on the rise. Whether you are a passenger, a Lyft driver, or a third party affected by a Lyft accident, it is crucial to have a knowledgeable and experienced accident lawyer to guide you through the complex legal landscape.
At Munley Law, we understand the unique challenges that Lyft accident victims face, from dealing with insurance companies to securing fair compensation for medical bills and lost wages. Our Lyft accident attorneys have a proven track record of successfully navigating these challenges, ensuring that our clients receive the maximum compensation they deserve.
If you or a loved one has been involved in a Lyft accident in Upper Darby, […]
Read More
