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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Truck Drivers Speeding
How Dangerous is a Speeding Truck Driver?
Accidents involving trucks and tractor-trailers can be pretty severe. According to the Pennsylvania Department of Transportation, there are almost 7,000 truck and tractor-trailer crashes in the state every year. Between 100 and 200 of these accidents result in fatalities annually.
The severity of these accidents is not surprising because commercial large vehicles are heavier than passenger vehicles. When the weight of the truck is combined with high speed, the outcome can be quite tragic.
This is why people who are involved in accidents with large commercial vehicles tend to suffer significant injuries. The authorities know this too. The Commonwealth of Pennsylvania has capped the upper-speed limit for all vehicles at 70 miles per hour for good reason. Even then, the maximum speed limit in Pennsylvania can be adjusted to account for road and weather conditions. Our state can review the speed limits on its roads during dangerous weather conditions. […]
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How to Hire a Truck Accident Lawyer Near Me
Do I Need a Truck Accident Lawyer Near Me?
Semi truck accidents can be devastating to motorists in passenger vehicles. Nearly 70 percent of all fatal truck accidents result in fatal injuries sustained by the driver of the passenger vehicle not the truck drivers. Truck accident injuries are far more serious that passenger vehicle accidents and some of the most severe accident injuries happen to the passenger vehicle driver.
If you were in a car accident that involved a semi truck you may have serious injuries, even traumatic brain injuries, serious spinal cord injuries or other severe injuries, mounting medical bills and a long recovery ahead. You might be considering a personal injury lawsuit to help you seek compensation for your medical bills for your accident injuries, lost wages, non economic damages such as pain and suffering and economic damages such as property damage resulting from your trucking accident. […]
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How Much Is Your Rear-End Truck Accident Worth?
What to Do After a Rear End Truck Accident
Rear-end truck accidents can be devastating for you and your family, causing you to become injured, lose out on work, and have trouble paying your bills. You may be wondering, “How Much Is My Rear-End Truck Accident Worth?”
Only an experienced truck accident lawyer can tell you how much a possible settlement or trial verdict will be in your rear-end truck accident lawsuit. You need truck wreck experts who will evaluate your case and fight to help you win. The rear-end truck accident lawyers at Munley Law Personal Injury Attorneys can help you receive the compensation you deserve.
Munley Law Personal Injury Attorneys has been the go-to firm for victims of rear end accidents and their families for more than five decades. Our truck accident lawyers are recognized nationwide as leaders in truck accident law. […]
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How Long Does It Take to Recover From a Traumatic Brain Injury?
Traumatic Brain Injuries: The Long Road to Recovery
Being involved in a car crash, a fall, or other serious accident is scary and traumatizing. It is common for victims to go into shock, either physical or psychological, immediately following the accident. Therefore, when initially looking for injuries, it is easy to look for the visible: broken bones, cuts, scrapes, bruising, etc. Traumatic brain injuries, however, are oftentimes not visible to the naked eye but still accounted for 61,000 deaths in 2019 alone. A plethora of complications from traumatic brain injuries, ranging from minor cognitive delays to debilitating and life-threatening symptoms such as seizures and coma, can follow the victim for years after the injury. You need to know that brain injury recovery time can take anywhere from a few weeks to ten years.
In this post, we will explore what exactly a traumatic brain injury is, […]
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Reading Explosion Injury Lawyer
Injured in an Explosion? Our Reading Explosion Accident Attorneys Can Help
An explosion can do a lot more than just destroy property. In the blink of an eye, it can take away everything you love. When you get hurt because of a landlord, property owner, or utility company’s carelessness, you may wonder what options you have to get your money back. Fortunately, an experienced Reading explosion injury lawyer can help you and make sure you get the money you deserve.
For more than 60 years, the Reading premises liability lawyers at Munley Law have been helping people throughout Berks County who have been hurt after an explosion. We know that a gas leak explosion can cause a lot of damage and major injuries. Our lawyers will fight hard for you to make sure that the right people are held accountable. We will figure out how much you’ve lost, […]
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