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.
More information about Insurance
Should I Hire a Truck Accident Lawyer for a Minor Accident?
In the aftermath of an accident, victims often find themselves overwhelmed by the physical, emotional, and financial challenges they face. Amidst the chaos of managing medical treatments, dealing with insurance companies, and trying to regain a sense of normalcy, hiring an accident lawyer can be a vital step in safeguarding one’s legal rights and securing fair compensation. An experienced accident lawyer can provide much-needed guidance, expertise, and support during this difficult time, helping victims navigate the complexities of the legal system and advocating on their behalf. In this article, we will explore the reasons for hiring an accident lawyer, the benefits they provide, and the factors to consider when selecting the right attorney to represent your interests in the pursuit of justice and compensation.
Even in cases of minor truck accidents, the potential for physical injuries, property damage, and emotional distress can be significant. As victims navigate the complexities of insurance claims and potential disputes, […]
Read MoreMore information about Insurance
Hazleton Rideshare Accident Lawyer
Rideshare Accidents Are Common – Do You Know What to Do?
Rideshare apps seem to multiply by the day. Be it Uber, Lyft, or one of the smaller rideshare apps on the market today, many, maybe even most, people use these apps to get around. Of course, when you enter a rideshare vehicle, you expect your driver to take you to your destination–be it in Hazleton or outside of it–safely.
The Hazleton rideshare accident lawyers at Munley Law know how to get you the compensation you need to recover from your injuries. For over 60 years, car wreck victims in the Hazleton area have come to Munley Law, where our team of accident attorneys consistently ranks among the Best Lawyers in America. We have earned the highest possible client satisfaction rankings and are board certified by the National Board of Trial Advocacy. If you get into a car accident with a rideshare driver, […]
Read MoreMore information about Insurance
Hazleton Medical Malpractice Lawyer
If you need a medical malpractice lawyer in Hazleton, Munley Law Personal Injury Attorneys is here for you.
We trust doctors, nurses, and other healthcare providers with our lives and the lives of our loved ones, and expect that a trip to the hospital will make us better, not worse. Unfortunately, medical malpractice is the third leading cause of death in the United States. Healthcare professionals make careless mistakes that severely injure patients every single day. These errors can have grave consequences. Victims often suffer infections, require additional procedures and surgeries, lose their ability to work, incur expensive hospital bills, and sometimes even die because of their medical providers’ malpractice.
At Munley Law Personal Injury Attorneys, we understand the pain and uncertainty surrounding a catastrophic injury caused by a doctor’s negligent mistakes. That’s why our Medical Malpractice Team has spent more than 60 years fighting for victims and their families. […]
Read MoreMore information about Insurance
Why is My Accident Settlement Taking So Long?
Accident settlements play a crucial role in the aftermath of a collision, providing much-needed financial relief to the injured parties and helping them move forward with their lives. These accident settlements, typically negotiated between the parties involved and their insurance companies, can cover accident expenses such as medical bills, lost wages, property damage, and emotional distress
Accident settlements are often viewed as the light at the end of the tunnel for those who have experienced a collision, providing financial compensation and a sense of closure. However, the process of reaching a settlement can be lengthy and frustrating, leaving many accident victims wondering why it’s taking so long to resolve their accident case.
The following will delve into the various factors that contribute to the duration of the accident settlement process, such as the complexity of the case, the need for thorough investigations, disputes over liability, and negotiations with insurance companies. […]
Read MoreMore information about Insurance
How Do Truck Accident Attorneys Establish Negligence?
Truck accidents are among the most devastating and life-altering events that occur on our nation’s highways. Due to the sheer size and weight of commercial trucks, these collisions often result in catastrophic injuries, extensive property damage, and, tragically, loss of life. Navigating the aftermath of a truck accident can be an overwhelming experience, as victims and their families face mounting medical bills, lost wages, and the emotional toll of recovering from such a traumatic event. In this complex landscape, truck accident attorneys play a pivotal role, providing much-needed guidance and expertise to help victims seek justice and compensation for their losses. Below we will explore the critical functions of truck accident attorneys, from investigating the causes of the accident to negotiating with insurance companies and, if necessary, litigating in court. By understanding the importance of truck accident attorneys and their role in these cases, we can better appreciate the value they bring to victims and their families during one of the most challenging times in their lives. […]
Read More
