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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Head-On Truck Accidents
Don’t Take on the Truck Company Alone. Our Head-On Truck Accident Lawyer Will Fight For You.
If you or a loved one has been involved in a head-on truck accident, you may be feeling overwhelmed and uncertain of what to do next. At Munley Law, we understand the confusion and stress that comes with these types of motor vehicle accidents. That’s why we’re here to help. Our experienced truck accident lawyer will guide you through every step of the process, from investigating the accident to filing a claim and getting the compensation you deserve.
Don’t wait another second. Contact our truck accident attorney today for a free consultation.
How Do Head-On Truck Accidents Occur?
Head-on collisions are some of the most traumatic events in terms of the damage caused and often result in life-threatening injuries or even death. These collisions occur when two vehicles traveling in opposite directions collide in a frontal collision. […]
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What Should I Do at the Scene of a Scranton Car Accident?
Scranton Car Accident Lawyer
Scranton, Pennsylvania, is a bustling city filled with rich history, scenic parks, and a growing population. Known for its industrial roots and landmarks like the Electric City Trolley Museum and the Steamtown National Historic Site, it is a hub of activity year-round. With the inevitable flow of traffic comes the unfortunate reality of car accidents. Knowing what to do at the scene of an accident is crucial for both legal and medical reasons. Car accident lawyers in Scranton like Munley Law are well-versed in guiding Scranton residents through these stressful moments, offering expert advice and representation.
Prioritize safety at the scene of a car accident
The first and foremost thing to do is ensure everyone’s safety, including your own.
Important safety measures to implement at the scene of a car accident
- Move Vehicles: If possible, […]
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Frequently Asked Questions About Workers’ Compensation in Bensalem
At Munley Law, we understand that navigating the world of workers’ compensation can be complex and overwhelming, especially during times of stress. That’s why we’ve created this resource – to provide you with clear, local, and relevant information about workers’ compensation in Bensalem. We have more than 60 years advocating for injured workers in Bensalem, PA.
Why Workers’ Compensation Matters in Bensalem 
Bensalem, a vibrant and bustling community in Bucks County, Pennsylvania, is home to hardworking individuals who contribute to various industries.
Whether you’re employed in healthcare, manufacturing, retail, or any other sector, understanding your rights and options when it comes to workers’ compensation is essential. Accidents and injuries can happen anywhere, and workers’ compensation serves as a safety net to protect you and your family during these unexpected moments.
Navigating Workers’ Compensation: Local Expertise at Your Fingertips
At Munley Law, […]
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What Types of Compensation Can I Pursue in a Hit and Run Case in Pittsburgh?
Hire a Pittsburgh hit and run car accident lawyer to maximize the compensation that you receive and are entitled to
Pittsburgh, often regarded as the “Steel City,” boasts iconic landmarks such as the Point State Park fountain and the historic Phipps Conservatory. The city’s rich industrial past sits alongside a vibrant arts scene and historic neighborhoods. However, like many urban areas, Pittsburgh is not immune to hit and run incidents that can disrupt the peace and safety of its residents. In such situations, retaining a reputable firm like Munley Law becomes essential to navigate the legal landscape and ensure victims receive the justice they deserve. If you’re a victim of a hit and run in Pittsburgh, securing a knowledgeable lawyer is crucial to ensure you receive proper compensation for damages and injuries sustained.
What is the definition of a hit and run in Pittsburgh?
Simply put, […]
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Why Hire a Stroudsburg Construction Accident Attorney?
Secure your Stroudsburg construction accident lawyer
Stroudsburg, the picturesque gem of the Poconos, boasts a rich history that is evident in its well-preserved historic buildings, bustling Main Street, and scenic parks. But as with any growing city, construction is a common sight, bringing with it the risks associated with construction sites. When accidents happen, it’s crucial to have the right legal team on your side. This is where the expertise of Munley Law personal injury lawyers comes into play.
Understanding Construction Accidents
Construction sites can be liabilities for various reasons:
- Inherent Dangers: Construction sites often have heavy machinery, open pits, electrical wires, and hazardous materials, all of which pose risks to workers and passersby.
- Frequent Changes:The dynamic nature of construction sites means that hazards can change daily, making it challenging to maintain a consistently safe environment.
- Multiple Entities Involved: Different contractors, […]
