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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Lower Merion Motorcycle Accident Lawyer
Motorcycle riding offers an unparalleled sense of freedom and thrill. However, with this freedom comes an increased risk of accidents, especially in densely populated areas. Lower Merion, situated in Montgomery County, Pennsylvania, is no exception. While motorcycles represent a small fraction of vehicles on the road, they account for a disproportionately high number of traffic injuries and fatalities.
The aftermath of a motorcycle accident can be devastating, both physically and emotionally. Medical bills, rehabilitation costs, lost wages, and the emotional trauma can be overwhelming for victims and their families. In such trying times, having a specialized Lower Merion motorcycle accident lawyer by your side can make a significant difference. This guide aims to shed light on the importance of hiring a dedicated attorney for motorcycle accidents in Lower Merion and how they can assist victims in navigating the complex legal landscape.
Navigating the aftermath of a motorcycle accident can be daunting, […]
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Lower Merion Premises Liability Lawyer
Tucked amidst the picturesque landscapes of Montgomery County, Lower Merion Township is a vibrant community that boasts both historic charm and modern conveniences. However, like any bustling locale, accidents and injuries can occur, often leaving individuals grappling with complex legal matters.
When it comes to navigating the intricacies of premises liability cases in Lower Merion, one name stands out as a beacon of legal expertise and local knowledge: Munley Law. With a deep-rooted connection to the Lower Merion community, Munley is your trusted partner in seeking justice and compensation for injuries sustained due to negligent property conditions. If you or a loved one has sustained an injury due to hazardous conditions on someone else’s property, contact our legal team today. We can help you explore your legal options, and ensure that all responsible parties are held liable for their negligence. […]
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Pennsylvania Bus Accident Lawyer
Pennsylvania Bus Accident Lawyer
Bus accidents can result in devastating consequences, including severe injuries, extensive medical bills, and emotional and mental trauma. Whether it’s a school bus, a commercial bus, or a tractor-trailer, a bus can cause major damage to another motor vehicle in a collision. The aftermath of such an accident is undoubtedly an overwhelming time for all involved, and it can feel like there’s no way through. But you are not alone — with the help of an experienced personal injury attorney, you can fight for the justice and compensation you deserve.
Munley Law, with its decades of experience and unwavering commitment to justice, has earned a stellar reputation as a trusted advocate for bus accident victims throughout Pennsylvania. Not only does our personal injury law firm have a proven track record of victories for our clients, but we are also a family operation, […]
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Can I Still Pursue a Hit and Run Car Accident Claim If the Driver is Never Found?
In Allentown, hit and run accidents are unsettling for drivers and pedestrians alike. The prevalence of hit and run accidents makes Allentown residents question the safety of our roads. Every year, numerous individuals become victims of these incidents, and beyond the immediate trauma, they are left grappling with overwhelming emotional distress and mounting financial burdens.
These accidents don’t just leave physical scars; they imprint deep emotional wounds. This is magnified when the victim does not know the culprit and cannot bring them to justice. For many, medical bills pile up, wages are lost, and car repairs become an unforeseen expense, potentially impacting personal finances. As you go through this storm, an urgent question lingers: Can you still pursue a claim if the at-fault driver remains unidentified?
What is a Hit and Run Car Accident?
A hit-and-run car accident, or a “leaving the scene” […]
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How Often Do Personal Injury Claims Go to Court?
In the legal world of the United States, personal injury claims hold a significant position. These claims come about when an individual suffers harm due to the negligence or intentional actions of another party. The goal is straightforward: to secure compensation for the injured party. That compensation covers medical bills, lost wages, property damage, and other related damages.
While these claims are prevalent across the country, each state (and even cities within the states) approaches personal injury law differently. Philadelphia is known for its rich history and diverse population. The city is no exception to the rule. As one of the country’s major cities, it presents a distinct landscape in the realm of personal injury claims, influenced by its local laws, court procedures, and the cultural attitude towards litigation. This article delves into the often-asked question: How often do these claims in Philadelphia make their way to the courtroom? […]
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