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 Big Truck Accident Settlements Calculated?
In the world of motor vehicle accidents, big truck collisions are a unique and challenging category that demands special attention. These large commercial vehicles, such as 18-wheelers, semi-trucks, and tractor-trailers, have the potential to cause catastrophic damage and life-altering injuries due to their sheer size and weight. When an accident involving a big truck occurs, the consequences can be overwhelming for all parties involved.
Big truck accidents often result in significant property damage, severe injuries, and even fatalities due to the immense size and weight of these vehicles. When it comes to seeking compensation for damages sustained in such accidents, understanding how settlements are calculated can be crucial for victims and their families.
We will shed light here on the factors that influence big truck accident settlement calculations, the types of damages that may be included, and the role of legal accident professionals in ensuring fair and just compensation. […]
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What Happens If an Employer Doesn’t Report a Workplace Accident?
Pennsylvania workers’ compensation provides financial benefits to workers for job-related accidents and occupational diseases. With very few exceptions, every employee in PA is entitled to workers’ compensation benefits if they become injured or sick as a result of workplace accidents or working conditions. When you suffer a work-related injury or disease, you have the right to file a claim for workers’ compensation benefits. The state sets strict guidelines for workers and their families to follow in order to remain eligible for benefits.
Your employer also has responsibilities to file the correct paperwork, adhere to deadlines, and ensure their incident reports are filed with the state.
If you have been injured in a work accident and your claim for workers’ compensation benefits has been denied because your employer failed to file the legally required paperwork, call the expert workers’ compensation attorneys at Munley Law today. […]
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18 Wheeler Accident Claims: How Much Compensation Am I Owed?
18-wheeler truck accidents are a devastating and all-too-common occurrence on our roadways, leaving victims grappling with severe injuries, loss of property, and, in some cases, fatalities. As the size and weight of these massive vehicles dwarf those of passenger cars, collisions often result in catastrophic consequences, making the aftermath particularly challenging to navigate. Understanding the unique aspects and complexities of 18-wheeler truck accidents is crucial, as it can shed light on the causes, potential liability, and legal considerations involved in these cases.
In the aftermath of an 18-wheeler accident, victims often face a myriad of challenges, including physical injuries, emotional distress, and financial burdens. One of the most pressing questions for those affected is, “How much compensation am I owed for my 18-wheeler accident?” While it may be tempting to seek a simple answer, the reality is that the amount of compensation varies significantly depending on the unique circumstances of each case
How Compensation is Decided in 18 Wheeler Accident Claims Cases
18-wheeler accidents often result in severe injuries, […]
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What to Expect During Your Truck Accident Claim
Truck accidents can be some of the most devastating and life-altering events a person may experience. Due to the sheer size and weight of these large commercial vehicles, collisions often result in significant property damage, severe injuries, and even fatalities. In the aftermath of such accidents, victims and their families face a multitude of challenges, from mounting medical bills to loss of income and emotional distress. Filing a truck accident claim is a crucial step in seeking compensation for these losses and helping victims regain their footing
When faced with the aftermath of a truck accident, victims often find themselves in a complex and unfamiliar world of insurance claims, legal processes, and financial uncertainty. Knowing what to expect from a truck accident claim can help alleviate some of the stress and confusion surrounding this challenging situation.
The Ins and Outs of Your Truck Accident Claim
Experiencing a truck accident can be a traumatic event, […]
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Carbondale Motorcycle Accident Lawyer
Motorcycle Accident Attorney in Carbondale
Helping Injured Victims in Motorcycle Crashes Obtain Justice
Motorcycle accidents often have catastrophic outcomes. Riders have little protection from an impact with a car, truck, or other motor vehicle. A motorcycle crash can lead to severe, life-threatening injuries with long recovery times. In the aftermath, victims of motorcycle crashes may face difficult financial challenges in repaying medical bills while forced to stay out of work. Injured victims may even find themselves facing permanent, life-changing disabilities that affect their ability to work or enjoy life the same as before the accident.
If you were injured in a motorcycle crash, you have the right to seek compensation for your injuries. Our experienced Carbondale motorcycle accident attorneys at Munley Law can help you. For over 60 years, we have been helping injured clients throughout Pennsylvania obtain justice in motor vehicle accidents. […]
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