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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Workers Compensation Lawyer for Sam’s Club Warehouse
Sam’s Club is a chain of warehouse stores that scores profits of $50 billion every year, boasting member-exclusive priced home and lifestyle products. However, due to the immense range of products and the speed with which the staff must work to process large order quantities, accidents amongst employees can happen. Some of these incidents could lead to life-altering injuries that require ongoing medical attention and lowered lifetime earning capacity.
The risk of injury is present for all American warehouse workers. In 2020 alone, there were 213,100 warehouse-related injuries reported in the US. The year prior, the warehouse industry saw the second-highest number of fatal workplace injuries in any industry.
If you’re one of the nation’s 100,000 Sam’s Club employees, you know that the company has faced some profiled injury settlements. As of January 2022, Sam’s Club operates 600 membership warehouse clubs in the United States. […]
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What If I Get Into a Car Accident and I Don’t Have Insurance?
Car accidents are unfortunately much more common than one might think. According to the Pennsylvania Department of Transportation, in 2020 there were 104,475 reportable traffic crashes in Pennsylvania. This means that roughly one in every 57 Pennsylvania residents was involved in a reportable accident.
If you or a loved one was involved in a crash, you may benefit from seeking out an experienced car accident lawyer. The car accident attorneys at Munley Law Personal Injury Attorneys can help. Contact us today for a free consultation to discuss the specifics of your case.
Minimum Car Accident Insurance Required in Pennsylvania
Pennsylvania law requires motorists to have both a drivers’ license and vehicle liability insurance before getting behind the wheel, according to Pennsylvania DOT Driver & Vehicle Services. Vehicle liability insurance covers medical expenses, lost wages, and any other damages that occur from vehicle-related injuries. […]
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What Are My Options If I Sustain a Burn Injury at Work?
Burn injuries at work in Allentown warehouses happen more often than you might think. In 2020 alone, over 60,000 Pennsylvanians suffered workplace burn injuries, and the Pennsylvania Department of Health reported more than 1,500 workers hospitalized from burns caused by heat, chemicals, fire, or electrical accidents. These injuries can change your life, causing severe pain, costly medical bills, and emotional trauma.
Burn injuries vary in severity and often involve complications similar to neck and back injuries. You might not realize how serious a burn is right away, as symptoms can develop over several days. While some burns heal with home care, severe workplace burns often require medical procedures, disability benefits, and rehabilitation.
If you or a loved one suffered a burn injury at work, you’re not alone. The Allentown workers’ compensation attorneys at Munley Law understand your pain and financial stress. […]
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What Information Should I Obtain From the Other Driver After a Car Accident?
We all know the basics of car accident etiquette. Remain calm, check yourself and your passengers for injuries. And of course, swap contact information with the other driver(s) involved. But what additional information should you obtain from the other driver after a car accident? Further, how do you obtain that information during a stressful situation?
What Basic Information Is Needed From The Other Driver?
There is no doubt that car accidents are stressful and still, incredibly common. According to Driver Knowledge, more than 90 people die in car accidents every day.
Be it from distracted driving, driving under the influence, speeding, road conditions, etc., when a car collision occurs, drivers need to be prepared to take action immediately.
In general, insurance companies will request the following information from the involved drivers at the accident scene:
- Driver’s name and contact information
- Name and contact information of the driver’s insurance company
- Insurance policy number and expiration date
- Vehicle details (make, […]
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What Is the Difference Between a First-Party and Third-Party Claim?
When you are involved in an accident, you may wonder where you’ll get the compensation needed to recover. Is it your insurance who foots the bill or the other parties who may be at fault? Further, can you still file a lawsuit if you have insurance? First-party and third-party insurance claims are similar in what you can recover in many ways–the key difference is in who is held liable.
Here is what you need to know about first-party and third-party insurance claims.
What Is a First-Party Claim?
In essence, a first-party insurance claim is one where you as the victim of an accident or injury make a claim against your insurance. This means you’ve paid and have an insurance policy for such events and will recover compensation from that policy.
If you have insurance, a first-party claim allows you to notify your insurance company of the accident and from there, […]
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