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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Why Was My Philadelphia Car Accident Claim Denied?
Navigating the aftermath of a car accident in Philadelphia can be a daunting task, especially when dealing with insurance claims. As a team of seasoned Philadelphia car accident lawyers, Munley Law has seen firsthand the frustration and confusion many clients face when their car accident claims are denied. Car accident insurance claims are a important part of the recovery process, providing financial support for medical expenses, vehicle repairs, and other related costs. However, these claims are not always straightforward and can be denied for a variety of reasons. Understanding these reasons is the first step towards successfully navigating the claims process.
In the city of brotherly love, where traffic can be heavy and accidents frequent, having your claim denied can feel like a second blow. But remember, a denial is not the end of the road. With the right legal assistance, […]
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Hazleton Texting-While-Driving Accident Lawyer
Driving through Hazleton, Pennsylvania requires your full attention. A momentary distraction on any of the city’s bustling streets or during poor weather conditions can lead to a severe car accident. When a driver texts while operating a motor vehicle, they are putting themselves and others on the road at serious risk of injury.
In the blink of an eye, your life can be dramatically altered by a reckless driving accident. If you were injured in a car accident caused by another driver texting, it’s crucial to understand the importance of securing legal representation. Trying to obtain compensation after an accident can be a daunting task, one that you shouldn’t have to face alone.
A specialized car accident lawyer, well-versed in the intricacies of cases involving texting drivers, can be your steadfast ally in this time. Your attorney can help you understand your rights, guide you through the complex legal landscape, […]
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What Are The Common Causes of Bicycle Accidents in Allentown?
As an active cyclist, your safety is paramount. Grasping the common causes of bicycle accidents equips you with the knowledge to better avoid them. This article aims to delve into those often-overlooked dangers on the road, from cyclists’ own errors to motorists’ behavior, and even environmental factors. By understanding these risks, you’ll be better prepared to navigate the roadways. Let’s take the first pedal stroke on this enlightening journey into bicycle safety.
Understanding the Factors Contributing to Bicycle Accidents
Accidents involving bicycles can often be attributed to a myriad of factors. Each one paints a unique picture of what could go wrong in what would otherwise be a routine ride. As a cyclist, understanding these broad factors is your first step in ensuring your safety.
One key factor is the cyclist’s own behavior. According to a study by the National Highway Traffic Safety Administration (NHTSA), […]
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What to Do After a Construction Accident in Bethlehem
Construction accidents in Bethlehem are an unfortunate reality of the industry, with severe implications for the health and well-being of workers. If you are involved in an accident on a construction site, it’s important to navigate the subsequent steps with utmost diligence. From seeking immediate medical attention to safeguarding your legal rights, each decision can significantly impact your recovery and future security.
This article will serve as a guide, explaining the vital actions to take in the aftermath of a construction accident. Arm yourself with this knowledge, enhance your preparedness, and ensure that you’re properly equipped to handle such a daunting situation. If you do get into a construction accident in Bethlehem and need legal advice, our Bethlehem construction accident lawyer is here to help.
Steps to Take After a Construction Accident in Bethlehem
Construction accidents in Bethlehem are unfortunately not a rare occurrence. […]
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How Much Is My Reading Construction Accident Case Worth?
Construction accidents can be a life-altering experience, with consequences that reach far beyond physical harm. If you’ve been injured on a construction site, it’s important to understand the potential value of your case. This article seeks to help you unravel the complexities of estimating this worth, considering factors from medical expenses to emotional trauma. Remember, every case is unique and hinges on numerous elements. Consult with a Reading construction accident attorney for a precise evaluation of your specific circumstances.
What are Construction Accidents?
Construction accidents are incidents that occur within the construction industry, typically involving workers on a construction site. According to the Occupational Safety and Health Administration (OSHA), the construction industry is one of the most dangerous industries in the United States.
These accidents can range from minor incidents, such as slips, trips, or falls, to more serious accidents involving heavy machinery, […]
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