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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When to Hire an Attorney After a Car Accident
Car accidents are traumatizing events for all involved. In the aftermath of a car accident, there are so many questions to be answered. What kind of medical care do I need? Do I have to take time off work? Will my insurance cover this? Is my car okay? Can I afford all this? How will I get to work? In the midst of all this, one question that may cross your mind is: Do I need a lawyer?
You’re not required to hire a car accident attorney, and in some cases, doing so may not be necessary. However, while working with an experienced lawyer does not guarantee a specific outcome, it does guarantee that you’ll have someone with knowledge of the legal system fighting on your behalf. For many people, working with a personal injury lawyer after a car accident is worth it because it means that can focus on things like rest and recovery, […]
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How Long Could My Truck Accident Case Take to Settle?
Does It Take a Long Time For a Truck Accident Claim to Reach a Settlement?
If you are involved in a truck accident, compensation for your settlement depends on many factors. In some cases, the truck accident claim can be settled within a few months and in others, it can take a few years before it reaches a conclusion. Truck accident claims involve commercial vehicles, which means there are more parties involved. Additionally, negotiations may fail to achieve adequate funds for victims, and the pursuit of a personal injury claim or wrongful death lawsuit is the proper course of action.
Unfortunately, it’s difficult to say how long a truck accident case can take to settle — anywhere from a few months to a few years. It usually depends on the willingness of all parties involved to reach a settlement and how complex the claim is. […]
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How Can a Truck Accident Lawyer Help?
Why Do I Need a Truck Accident Lawyer After an Accident?
Dealing with the aftermath of a truck accident in Pennsylvania can be frustrating, stressful, and devastating. Faced with medical expenses, pain and sufferings, and lost wages, the road to recovery may seem long and hard for both you and your family. What you need is an experienced truck accident lawyer to help you receive the maximum amount of compensation for your losses, in a timely manner, so you and your family can start the healing process.
But how can a truck accident lawyer help your claim and why do you need one? Let’s explain.
A Truck Accident Lawyer Can Help With Deadlines and Evidence
Timeliness is critical when establishing liability and the best possible financial compensation that you are entitled to. Reputable truck accident lawyers understand that timing is crucial to ensure a fair, […]
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What is the Truck Accident Claim Process?
What Happens After a Trucking Accident?
Being involved in an truck accident is a traumatic experience. Like a car accident, a truck crash can cause debilitating personal injuries and emotional distress–but due to the sheer size and force of the vehicle, truck accidents often cause more severe injuries and mental agony than an accident involving passenger cars alone.
When you or a loved one is involved in a truck accident, the last thing you want to do is try and figure out the complicated truck accident claim process.
It is essential, however, that you act fast–while evidence is fresh and before the statute of limitations runs out–in order to ensure you receive the full and fair compensation you deserve. Thankfully, an experienced truck accident lawyer can handle most steps of the truck accident claim process for you, and at no charge to you unless you win a truck accident settlement or jury award. […]
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How Can You Prove Who is Responsible For a Truck Accident?
How Difficult is It to Determine Fault in a Trucking Accident?
In some cases, determining fault in a car accident is fairly straightforward. There’s a clear party at fault, and a clear victim. But far more often that not, determining fault in truck accidents is a highly complex process. There are a great deal of potentially liable parties, and a huge amount of evidence that must be reviewed in order to correctly determine fault. What’s more, there is an inherent level of complication when a commercial truck is involved; this means that rather than navigating amongst passenger vehicles and their individual drivers, you must also navigate with a large company, which likely has extensive legal resources.
At Munley Law Personal Injury Attorneys, our truck accident lawyers believe that all truck accident victims deserve justice. We also understand that the legal system can feel overwhelming, […]
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