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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What Can I Claim for a Brain Injury?
Brain injuries can have severe and long-lasting impacts on individuals and their families. These injuries can result from various incidents, including accidents, falls, medical malpractice, or sports-related incidents. Brain injury cases are complex and require specialized legal expertise to ensure that the rights and needs of the injured party are properly addressed. Understanding the nature of brain injury cases, their causes, and the legal considerations involved is essential for seeking justice and obtaining the necessary support and compensation.
Suffering a brain injury can be a life-altering event, impacting every aspect of a person’s life. From physical and cognitive impairments to emotional and financial challenges, the consequences can be overwhelming. When facing the aftermath of a brain injury, understanding what you can claim is crucial in seeking the necessary support and compensation. While each TBI case is unique, there are common categories of claims damages that individuals with brain injuries may be eligible to claim. […]
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What Happens in a Product Liability Case?
Product liability is an important legal concept that protects consumers from defective and dangerous products. When consumers purchase products, they have the right to expect that those products are safe and free from defects. However, in some cases, products may cause harm or injury due to design flaws, manufacturing defects, inadequate warnings, or other product-related issues. This is where product liability comes into play.
Product liability refers to the legal responsibility of manufacturers, distributors, suppliers, and retailers for injuries or damages caused by their products. When a product fails to meet safety standards or causes harm, consumers have the right to seek compensation for their injuries, medical expenses, lost wages, and other damages through a product liability claim.
A product liability case arises when a consumer is harmed or suffers injury due to a defective or dangerous product. These cases hold manufacturers, […]
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What is Considered a Catastrophic Injury in Wilkes-Barre?
Catastrophic injuries are life-altering events that have profound and long-lasting impacts on individuals and their families. These injuries often result in severe physical, emotional, and financial challenges. Understanding the nature of catastrophic injuries and their consequences is crucial in recognizing the need for specialized legal representation and support.
Various types of injuries can be classified as catastrophic, including spinal cord injuries, traumatic brain injuries, severe burns, amputations, organ damage, and multiple fractures. These injuries often require extensive medical treatment, rehabilitation, and ongoing care, impacting not only the individual’s physical health but also their emotional well-being and overall quality of life.
Catastrophic injuries can occur in various contexts, such as car accidents, workplace accidents, medical malpractice incidents, construction site accidents, and acts of violence. The consequences of these injuries can be devastating, resulting in permanent disabilities, chronic pain, loss of independence, […]
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What is Nursing Home Abuse?
Nursing homes are meant to be safe havens for our elderly loved ones, providing them with the care and support they need in their later years. However, unfortunately, instances of nursing home abuse and neglect do occur, causing physical, emotional, and psychological harm to vulnerable residents. Nursing home abuse is a grave concern that demands our attention and action.
Nursing home abuse encompasses a range of harmful behaviors and actions inflicted upon residents by caregivers or staff members. This can include physical abuse, emotional or psychological abuse, sexual abuse, neglect, and financial exploitation. These acts not only violate the rights and dignity of the elderly but also jeopardize their well-being and quality of life.
It is essential to raise awareness about nursing home abuse, understand the signs and symptoms, and take appropriate measures to protect our loved ones. By recognizing the seriousness of the issue and seeking legal recourse, […]
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Bethlehem Lyft Accident Lawyer
We primarily think of Lyft as a convenience, a means of getting from point A to point B at a reasonable cost. It can be easy to forget that when we get into a Lyft we are trusting a stranger with our lives and safety. Would you know what to do if your Lyft driver got into an accident? What if the accident was your Lyft driver’s fault? Who should pay for your injuries? Will Lyft take any responsibility?
A Bethlehem Lyft accident lawyer at Munley Law Personal Injury Attorneys can answer these questions, and more. Since 1959, Munley has been the most trusted name in law in Pennsylvania and the Lehigh Valley. Our attorneys understand the complexities of rideshare car accidents and can help you navigate this often-confusing situation. We have decades of experience handling serious injury cases involving big transportation companies and commercial insurance policies. […]
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