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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Philadelphia Spinal Cord Injury Lawyer
Our Philadelphia spinal cord injury lawyers at Munley Law have the knowledge, experience, successful track record, and resources to get you the compensation you deserve. There are no upfront costs for our representation — we can look over your spinal cord injury case with a no-obligation free consultation and help you decide the best path forward — contact us today.
How Can a Spinal Cord Injury Lawyer Help Me?
Spinal cord injuries are complex. Often, people do not properly seek the medical care needed at full capacity and do not realize the financial, physical, mental, and emotional long-term aftermath that spinal cord injuries create. At Munley Law Personal Injury Attorneys, our spinal cord injury lawyers are knowledgeable and experienced with what these cases entail, with the attention and care you and your family need.
A spinal cord injury attorney can help you the following ways:
- Interact with insurance companies and assist in filing and managing claims. […]
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Reading Catastrophic Injury Lawyer
If you are a victim of a catastrophic accident due to someone else’s negligence, the trauma from the accident can be overwhelming. The mental, physical, and financial stress can escalate quickly, and it is not the sort of thing that one prepares for. An experienced Reading catastrophic injury attorney is key to ensuring that you get the compensation necessary to help you and your family move forward after a catastrophic injury. Munley Law’s Reading catastrophic injury lawyers know that the time after an accident is the most difficult for catastrophic injury victims and their families, and we are here to fight for you and to support you. We are confident about our representation and our success rate, and we are compassionate about how financially vulnerable our clients feel.
What Are Catastrophic Injuries?
Catastrophic injuries affect your quality of life and are typically long-lasting, life-altering, permanent, and sometimes fatal. […]
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How Are Big Truck Accident Settlements Calculated?
In the world of motor vehicle accidents, big truck collisions are a unique and challenging category that demands special attention. These large commercial vehicles, such as 18-wheelers, semi-trucks, and tractor-trailers, have the potential to cause catastrophic damage and life-altering injuries due to their sheer size and weight. When an accident involving a big truck occurs, the consequences can be overwhelming for all parties involved.
Big truck accidents often result in significant property damage, severe injuries, and even fatalities due to the immense size and weight of these vehicles. When it comes to seeking compensation for damages sustained in such accidents, understanding how settlements are calculated can be crucial for victims and their families.
We will shed light here on the factors that influence big truck accident settlement calculations, the types of damages that may be included, and the role of legal accident professionals in ensuring fair and just compensation. […]
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What Happens If an Employer Doesn’t Report a Workplace Accident?
Pennsylvania workers’ compensation provides financial benefits to workers for job-related accidents and occupational diseases. With very few exceptions, every employee in PA is entitled to workers’ compensation benefits if they become injured or sick as a result of workplace accidents or working conditions. When you suffer a work-related injury or disease, you have the right to file a claim for workers’ compensation benefits. The state sets strict guidelines for workers and their families to follow in order to remain eligible for benefits.
Your employer also has responsibilities to file the correct paperwork, adhere to deadlines, and ensure their incident reports are filed with the state.
If you have been injured in a work accident and your claim for workers’ compensation benefits has been denied because your employer failed to file the legally required paperwork, call the expert workers’ compensation attorneys at Munley Law today. […]
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What to Expect During Your Truck Accident Claim
Truck accidents can be some of the most devastating and life-altering events a person may experience. Due to the sheer size and weight of these large commercial vehicles, collisions often result in significant property damage, severe injuries, and even fatalities. In the aftermath of such accidents, victims and their families face a multitude of challenges, from mounting medical bills to loss of income and emotional distress. Filing a truck accident claim is a crucial step in seeking compensation for these losses and helping victims regain their footing
When faced with the aftermath of a truck accident, victims often find themselves in a complex and unfamiliar world of insurance claims, legal processes, and financial uncertainty. Knowing what to expect from a truck accident claim can help alleviate some of the stress and confusion surrounding this challenging situation.
The Ins and Outs of Your Truck Accident Claim
Experiencing a truck accident can be a traumatic event, […]
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