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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Hershey Car Accident Lawyer
When the unexpected strikes and you find yourself in the aftermath of a car accident in Hershey, Pennsylvania, the path towards justice and compensation can often seem daunting and obscure. Navigating through the intricate web of legal procedures, insurance claims, and recovery can be an overwhelming journey, especially when embarked upon alone. This is where the expertise of a Hershey car accident lawyer becomes not just beneficial, but essential.
Car accidents can unleash a cascade of consequences, from physical injuries and emotional trauma to financial burdens due to medical bills and loss of income. In such tumultuous times, having a seasoned Hershey car accident attorney by your side can be the beacon of hope and strength that guides you through the legal process, ensuring that your rights are safeguarded and your damages paid.
At Munley Law, we don’t just represent you; […]
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Upper Darby Rideshare Accident Lawyer
The unique landscape of Upper Darby, Pennsylvania, with its busy streets, cultural diversity, and continuous growth, has seen a rise in the use of rideshare services such as Uber and Lyft. While these services offer convenience and affordability, they also come with the potential for accidents. As rideshare platforms become more integrated into our daily commute, the necessity for specialized legal representation becomes ever more critical.
At Munley Law, we recognize the complexities that arise from rideshare accidents in Upper Darby. Our dedicated team offers free consultations, ensuring that every car accident victim has a chance to understand their rights and the legal avenues available to them.
Common Causes of Rideshare Accidents
Rideshare accidents can occur for a myriad of reasons. Some of the most prevalent causes of a Lyft or Uber accident include:
- Distracted Driving: Given the reliance on apps, […]
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Are Personal Injury Lawsuit Settlements in Philadelphia Taxable?
At Munley Law, we understand that navigating the intricacies of personal injury settlements can be daunting, especially when it comes to tax implications. Our dedicated team of attorneys is here to provide clarity on this important matter and offer valuable insights into the tax treatment of personal injury settlements in the city of Philadelphia. With our extensive experience in handling personal injury cases and our deep knowledge of local laws, we are committed to ensuring that you receive the compensation you deserve while safeguarding your financial interests.
Understanding Personal Injury Settlements
What Constitutes a Personal Injury Settlement?
A personal injury settlement is a legally binding agreement between the injured party (the plaintiff) and the party responsible for their injuries (the defendant or their insurance company). This agreement typically involves a financial compensation package that the defendant offers to the plaintiff in exchange for the plaintiff’s agreement not to pursue further legal action. […]
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Lancaster Motorcycle Accident Lawyer
Lancaster, Pennsylvania with its picturesque countryside, rolling hills, and historic farmlands, offers a distinct backdrop for motorcyclists. The winding roads that meander through Amish country and past century-old covered bridges provide a unique riding experience.
However, this beauty comes with its challenges. Narrow lanes, unpredictable livestock crossings, and intersections with horse-drawn buggies can pose unique risks to motorcyclists. Furthermore, seasonal changes bring a variety of road conditions, from slick autumn leaves to icy winter patches.
It’s essential for riders to be well-acquainted with Lancaster’s landscape intricacies, and equally vital for them to know they have a dedicated motorcycle accident lawyer ready to assist should the unexpected happen.
In the wake of a motorcycle accident, you need more than just legal advice. You require an advocate who understands the trauma of such events and is equipped to guide you through every step of the recovery process. […]
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Lower Merion Lyft Accident Lawyer
Lower Merion, Pennsylvania, is a vibrant and bustling community situated in the heart of Montgomery County. Known for its picturesque neighborhoods, thriving business districts, and vibrant cultural scene, Lower Merion attracts residents and visitors alike. With its proximity to Philadelphia and easy access to major highways, it’s no surprise that rideshare services like Lyft have become an integral part of Lower Merion’s transportation landscape.
While ridesharing offers convenience and accessibility, it also comes with its fair share of risks, including the possibility of accidents and injuries. If you or a loved one has been involved in a Lyft accident in Lower Merion, you need a dedicated and experienced legal team to help you navigate the complexities of personal injury claims. Munley Law Personal Injury Attorneys is your trusted partner in seeking the compensation you deserve.
Understanding Rideshare Accidents in Lower Merion
Rideshare services like Lyft have transformed the way we get around Lower Merion. […]
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