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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Harrisburg Workers Compensation: Specific Loss Benefits
Workers’ Compensation Specific Loss Benefits Explained
Specific loss benefits are designed to compensate an injured worker for the loss or permanent damage of a body part or function due to a work-related injury. These benefits are designed to compensate for the impairment and loss of use of specific body parts or functions. While the Pennsylvania Workers’ Compensation Act outlines the specifics of this benefit, let’s break down the key aspects:
Eligibility and Coverage:
- Injured workers who experience the permanent loss of a body part, such as a limb, finger, toe, or an organ, are eligible for specific loss benefits.
- This benefit also applies to the permanent loss of function or use of a body part. For instance, if an injury results in the loss of vision, hearing, or mobility, you may be entitled to specific loss benefits. […]
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Easton Pedestrian Accident Lawyer
Navigating the aftermath of a pedestrian accident can be an overwhelming experience, fraught with emotional, physical, and financial challenges. Victims in such accidents can suffer from severe injuries and mounting medical costs. If you’ve been involved in such an unfortunate incident in Easton, you may be grappling with medical bills, lost wages, and emotional trauma.
Securing the services of an experienced Easton pedestrian accident lawyer can be a pivotal step in safeguarding your rights and obtaining the compensation you deserve. At Munley Law, our Easton car accident attorneys also specialize in pedestrian accident cases. Our seasoned legal professionals can offer invaluable expertise in negotiating with insurance companies, gathering evidence, and helping you seek compensation.
Pedestrian Accident Statistics in Easton, PA
If you’re a resident or frequent visitor of Easton, Pennsylvania, it’s crucial to be aware of the pedestrian accident statistics in the area. […]
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Harrisburg Truck Accident Lawyer
Our Team of Board Certified Truck Accident Attorneys Are Here For You
Harrisburg is a crossroads city, where Interstates 81, 83, and 76 intersect, and the incidence of semi-truck accidents is high. Harrisburg is a vital part of the United States supply chain, and semi-trucks crisscross the city and surrounding areas. Semi-truck accidents are very dangerous and can cause severe physical injuries and even death. These accidents have serious legal implications, so securing an experienced Harrisburg truck accident lawyer in the aftermath of a semi-truck accident is crucial. Understanding your rights and legal options can mean the difference between just compensation and unnecessary hardship.
If you or a loved one was injured in a truck accident in Harrisburg, our experienced team of professionals can help guide you through the litigation process. The lawyers at Munley Law have the experience and the resources to handle your case. […]
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Bensalem Construction Accident Lawyer
Located in the central region of Bucks County, Bensalem, PA is a vibrant community home to many attractions. From the iconic Parx Casino and Racing venue, Penn Community Bank Amphitheater, and the tranquil Bensalem Township Country Club, this diverse township embodies a unique blend of thriving urban life and serene country landscapes.
Yet, with its booming commercial spaces and ambitious construction projects, Bensalem is not immune to the unfortunate incidents that often accompany such growth. Construction accidents, albeit a less celebrated aspect of progress, can become a grim reality.
If you were involved in a construction site accident in Bensalem, your first call should be to Munley Law. Our Bensalem construction accident lawyers are prepared to fight for your rights and make sure you receive the compensation you need following an accident.
Construction site accident cases can be difficult. Contact an experienced construction accident lawyer at Munley Law today for a free consultation. […]
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Commercial Truck Accidents
A Commercial Truck Accident Can Be Catastrophic. Munley Law is Here to Help.
In a time when we click a button and expect a product to arrive at our doorstep within 24 hours, commercial trucks have become an exceptionally important part of the world as we know it. Commercial drivers ensure that goods move from point A to point B and eventually end up with us. But with a shortage of drivers and more demanding schedules, in no surprise that commercial truck accidents have increased in the past few years. Getting into a crash with a commercial truck can result in severe injuries, leading to a hefty financial debt. You will need the assistance of a truck accident attorney to help you with the burden.
If you or a loved one has been in an accident that involves a commercial truck, we are first and foremost so deeply sorry you’ve had to endure that experience. […]
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