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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How Are Medical Bills Paid After a Car Accident in Bensalem?
If you’ve been involved in a car accident in Bensalem, Pennsylvania, you may be facing not only physical and emotional challenges but also the daunting prospect of dealing with medical bills. In such a stressful time, understanding how medical bills are paid can provide you with valuable information and peace of mind. At Munley Law Personal Injury Attorneys, our Bensalem car accident lawyers have extensive experience in helping car accident victims in Bensalem and the surrounding areas navigate the complex process of medical bill payment.
Insurance Coverage for Medical Bills
One of the primary sources of payment for medical bills after a car accident is insurance coverage. In Pennsylvania, drivers are required to carry a minimum amount of auto insurance, which includes:
Medical Benefits (Med Pay)
Medical Benefits, often referred to as Med Pay, is an optional but highly recommended type of auto insurance coverage for drivers in Pennsylvania. […]
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What Is the Difference Between Catastrophic Injury vs Personal Injury?
When accidents occur due to someone else’s careless actions, the consequences can range from minor injuries to life-altering trauma. While any injury can disrupt daily life, catastrophic injuries represent a particularly devastating category of harm that goes far beyond typical personal injury cases. These profound injuries fundamentally change the path of a victim’s life, affecting not just their immediate health but their entire future.
Seeing how personal injury differs from catastrophic injury helps explain why these cases need expert legal help and careful planning for the future.
Defining Catastrophic and Personal Injuries
Some states provide specific definitions of catastrophic injuries, but many do not. Where there is no official legal definition of a catastrophic injury, understanding the topic becomes easier when comparing it to a general personal injury.
The severity of a personal injury can vary depending on many factors. Some minor injuries heal in a few days, […]
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What If Road Debris Causes Your Car Accident?
When debris flies from a vehicle and onto the road, all other drivers are at risk of being injured in road debris accidents. Perhaps you were injured in such an accident because of unsecured loads or another form of negligence. Now, you may be facing medical expenses, lost income, and a range of other struggles.
You deserve compensation if someone’s negligence caused a road debris crash. However, it’s important to consider how the process of seeking compensation in these circumstances may be unique when compared to other personal injury cases.
Understanding Road Debris Accidents
Road debris can take many forms. The following are common types of road debris that could potentially cause accidents:
- Cargo that has fallen from trucks
- Fallen trees and large tree limbs that have fallen to the ground
- Debris from a previous collision
- Tires
- Broken glass
- Litter
- Rocks
- Garbage
Don’t underestimate how dangerous road debris can put drivers at risk. […]
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What Is the Average Payout in a Wrongful Death Settlement?
A loved one’s untimely passing is always a painful experience. If your loved one passed because someone else was negligent, while nothing can bring them back, it’s important to understand that compensation may be available for various losses associated with their death.
Filing a wrongful death lawsuit allows surviving loved ones of a wrongful death victim to seek compensation for everything from
the direct financial losses of death to the emotional distress that might be more difficult to quantify after a tragic loss.
There is no standardized or officially tracked average payout for wrongful death settlements, as each case is uniquely influenced by factors such as the deceased’s age, income, future earning potential, and the circumstances of their death. Wrongful death settlements can vary dramatically based on multiple variables, including the jurisdiction’s laws, the severity of negligence involved, and whether the case involves auto accidents, […]
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Why Do Gas Explosions Keep Happening?
Many gas explosions are preventable, but despite the devastation they cause, they keep happening. Gas utility companies, property owners, manufacturers of gas appliances, contractors, and government agencies all have a role in preventing gas explosions. Often, homeowners and people living with gas appliances don’t know the gas appliances and lines in and around their homes are posing an invisible risk.
Understanding the Devastating Impact of Gas Explosions
A gas explosion can leave numerous household members, and even whole communities, emotionally and physically injured in its wake.
Physical and Mental Health Impacts
Even with immediate assistance from medical personnel, serious physical injuries and fatalities can be unavoidable. Injuries from gas explosions often include:
- Burns
- Blast injuries
- Broken bones
- Cuts and lacerations
- Hearing damage or loss
- Respiratory injuries
- Traumatic brain injuries (TBI)
The immediate injuries suffered at the time of the explosion aren’t the only ones victims face. […]
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