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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Pittsburgh Bikeshare Accident Lawyer
Seeking Justice after a Pittsburgh Bike Share Accident
Biking is a wonderful means of transportation for many reasons, including the environmental impact, the exercise, and the affordability, whether for commuting or simply for pleasure. But like all means of getting around, especially in a busy city such as Pittsburgh, there are inherent risks and dangers. And sometimes, bicycle accidents happen.
With bike sharing specifically, some additional risks come into play. Bike share programs, like Pittburgh’s HealthyRide, may mean that people who are not regular or experienced cyclists are now biking on busy city streets. This is also a popular means of getting around the city for visitors and tourists, which means that people who lack familiarity with their surroundings are biking in high-traffic areas. This can be extremely dangerous.
If you have been injured in a bike accident, or specifically a bikesharing accident, […]
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Is It Worth Getting a Lawyer for a Car Accident in Philadelphia?
Determining When To Speak to a Car Accident Lawyer
Car accident cases can be complicated. From dealing with the insurance companies to determining fault, most car accident victims don’t know where to begin. Car accidents in Philadelphia also have certain dates to meet under Pennsylvania law. If you want to file a car accident claim, you should not delay.
While not all car accidents require the aid of a Philadelphia car accident lawyer, in many car accidents, it is worth seeking legal advice.
Learn more about the situations in which a car accident may require an experienced car accident lawyer.
Questions For Philadelphia Car Accident Lawyers
It is normal after an auto accident to have multiple questions. For starters, what do I do now? Following a car accident, you’ll want to do the following:
- Go to a safe location off the road if possible. […]
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Can Both Parties be At Fault in a Car Accident?
Understanding Shared Fault in Car Accident Cases
When car accidents occur, each driver may be looking to place fault on the other. However, the reality is that both parties can be at fault in a car accident. Depending on the state you live in ultimately determines how your shared level of fault will alter the amount of compensation you can recover from the other driver in a car crash.
If you’re asking yourself “Can both parties be at fault in a car accident?” an experienced car accident attorney can help. These car accident cases can be complicated — from determining the percentage of fault across all the parties involved, to dealing with the other party’s insurance company, as well as medical bills, insurance adjusters, a police report, and more.
If you and another driver share fault in a car crash, […]
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Can You Sue Someone for a Minor Car Accident?
What to Do If You’re In a Minor Car Accident
Maybe it’s a small fender-bender in the grocery store parking lot. Or perhaps a driver misjudged the lane shift and tapped into your car. Sometimes these minor car accidents happen, resulting in minimal damage to your vehicle. While it may just be an inconvenience without injury, you may wonder, can you sue someone for a minor car accident?
The answer is yes — anytime you are involved in a car accident, you have a right to file a claim with your insurance or file a lawsuit against the other driver to recover compensation. The real question is, will your case be successful for a minor car accident?
Every accident can involve both non economic damages and economic damages. So, in some cases, […]
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Who’s At Fault in a T-Bone Accident?
What is a T-Bone Car Accident?
A T-bone accident is one in which one vehicle strikes the side of another with its front, thereby forming a “T” shape. This 90 degree angle impact often results in very serious injuries, and if you’ve been injured in a T-bone accident, it’s important to seek medical care immediately. If you end up asking, “Who’s At Fault in a T-Bone Accident?” a lawyer can help.
Unfortunately, these instances are all too common: side impact collisions make up about a quarter of all collisions in the US each year. T-Bone accidents most often occur in intersections, when vehicles involved either intentionally or accidentally disregards a red light or stop sign or negligently makes a left turn.
Drivers involved in a traffic accident who decide to speed through a yellow light can also cause a T-Bone collision like this. In fact, […]
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