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
Wilkes-Barre Construction Accident Lawyer
For those working in the construction industry, there is daily danger. For the over 35,000 construction workers in Pennsylvania, having a Wilkes-Barre construction accident lawyer from our law firm on your side if injury occurs can be critical.
Munley Law is here if you or a loved one were injured in a construction accident due to employer negligence, premises liability, or third-party negligence. For more than 60 years, the attorneys at Munley Law have represented injured workers who were hurt in a slip and fall, struck by objects, caught in between objects and machinery, and electrocutions. No matter the cause of your workplace injury, a Wilkes-Barre construction accident law firm can help you recover the compensation needed to move forward. For a no-obligation, free consultation, contact us today.
Munley Law Wilkes-Barre Construction Accident Lawyers Navigate Claims
After suffering an injury, […]
Read MoreMore information about Insurance
How to File a Claim for a Lyft Crash in Bethlehem
Figuring out what to do after a Lyft accident can be overwhelming. The process is filled with complexities, from recovering from an injury to understanding the intricacies of insurance claims. For those seeking additional guidance or facing legal uncertainties, the Bethlehem Lyft accident lawyers at Munley Law are here to help. With their expertise in handling rideshare car accident cases, you can get started with a free consultation with an experienced Lyft accident lawyer.
Knowing the right actions to take can significantly impact the outcome, whether you’re a passenger, driver, or a third party affected by such an incident. Keep reading to learn how to file a claim to recover compensation.
Understanding Lyft Crashes
In Bethlehem, rideshare services such as Lyft have become a staple in daily transportation. However, with this convenience comes a notable increase in rideshare-related car accidents. […]
Read MoreMore information about Insurance
What Does a Bethlehem Medical Malpractice Lawyer Do?
A Bethlehem medical malpractice lawyer is your guide, advocate, and champion if you or a family member have suffered an injury because of a medical professional’s negligence. Medical malpractice occurs when a doctor or other medical professional doesn’t provide the standard of care expected, leading to harm or injury to a patient. It’s a situation no one wants to find themselves in, but it’s essential to know that there are legal paths available if it happens.
With decades of experience, Munley Law profoundly understands the intricacies of medical malpractice cases. The attorneys at our law firm have a track record that speaks volumes about their ability to navigate these challenging cases, offering peace of mind and a sense of security in what can be an overwhelming time. Let’s dive into what medical malpractice entails and how an experienced law firm can make a significant difference in the outcome of your case. […]
Read MoreMore information about Insurance
What Is the Statute of Limitations for Truck Accident Claims in Bethlehem, PA?
The statute of limitations for truck accident claims in Bethlehem, PA, is two years. Working with a Bethlehem truck accident lawyer at Munley Law can help keep your claim on track because this timeframe can decide if you can claim compensation for damages or injuries. Beyond this period, claims may be denied without you being allowed to file your personal injury lawsuit.
After a traumatic event like a truck accident, understanding legal terms and requirements can be confusing and intimidating for accident victims. Learn more about why this timeline is in place and what happens if the statute of limitations expires.
How the Statute of Limitations Works for a Personal Injury Lawsuit After a Truck Accident
If you have been involved in a truck accident, it is essential to remember that there is a two-year timeline, […]
Read MoreMore information about Insurance
When Is It Too Late to Get a Car Accident Lawyer in Allentown, PA?
Last-Minute Legal Help: Allentown Car Accident Lawyer Discusses Time Limits
As anyone in a car accident in Allentown, PA, knows, the clock starts ticking when the accident occurs. The legal system and insurance companies don’t wait for you to recover, nor should you. At Munley Law, our Allentown car accident lawyers understand the anxiety of car accidents and the urgency to settle legal matters as quickly as possible. However, we also want you to know there is always time to get the legal help you need. Let’s dive into the topic to clarify any questions about time limits and car accident lawyers in Allentown.
What Is The Statute of Limitations for a Car Crash in Allentown, PA?
In car crash claims, timing can make or break your case. In Allentown, PA, the law provides a two-year window from the accident date for filing a personal injury claim. […]
