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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Philadelphia 18 Wheeler Accident Lawyer
Your Advocates After an Accident With an 18 Wheeler
When you or a loved one has been hurt in an 18 wheeler truck accident in Philadelphia, you might be facing an uphill battle to recover the just compensation you deserve. Eighteen wheelers, also known as tractor trailers or semi trucks, are heavy commercial trucks that can weigh over 80,000 pounds and are 25 times the size of an average passenger vehicle.
Truck accidents are far more serious than most passenger vehicle crashes. Commercial truck accidents involving 18 wheelers can cause far more serious injuries than car accidents. If you have been involved in a truck accident in Philadelphia, you need an experienced Philadelphia 18 wheeler accident lawyer on your side.
The Philadelphia truck accident lawyers at Munley Law Personal Injury Attorneys have over 60 years of experience handling truck accident claims throughout Pennsylvania. […]
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Should I Accept the First Insurance Settlement After a Scranton Car Accident?
The Insurance Company Offered a Settlement. Should I Take It?
After an automobile accident, you are likely to be experiencing a great deal of physical pain and emotional distress. You may be tempted to immediately accept the first offer from the other driver’s insurance company to put the car accident behind you as quickly as possible. However, this is almost never a good idea.
An insurance company is necessarily looking first and foremost to its own bottom line, and not to what would be fair compensation for you. The insurance company makes money by keeping its payouts as low as possible, and can take advantage of your desire for a speedy resolution to make you a low settlement offer that does not provide a fair settlement for your personal injury.
If you have questions about a car accident settlement, your first step is to contact an experienced car accident lawyer at Munley Law Personal Injury Attorneys. […]
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Philadelphia SEPTA Accident Lawyer
The Southeastern Pennsylvania Transportation Authority (SEPTA) oversees many important aspects of Philadelphia’s public transportation system. From trolleys to regional rail systems, SEPTA handles the important administrative details of these public services, including any personal injury claims resulting from accidents.
If you have been involved in an accident on public transportation in Philadelphia, you need a personal injury lawyer with experience in public transit and SEPTA claims on your side. SEPTA accident claims are complex to navigate, and an attorney can best negotiate with SEPTA’s legal claims department to get you the compensation you deserve.
At Munley Law, our SEPTA accident attorneys in Philadelphia know what it takes to pursue a mass transit accident claim. Contact our law offices today when you call or fill out our online form. We offer free case consultations, and you will not be charged for our services unless we win money for you. […]
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What Qualifies as Personal Injury?
How Do I Know If I Have a Personal Injury Claim?
You may have seen TV ads, billboards, and more advertising the services of personal injury lawyers, but what exactly what does this term mean? In this article, we’ll explore the meaning of personal injury, and how it may impact you and your life.
Remember: if you or your loved one has been injured in an an accident, you may have a right to compensation. Don’t hesitate to contact Munley Law Personal Injury Attorneys to discuss your personal injury claim and learn we can help protect your interests.
Understanding Personal Injury
While we all try to go about our daily lives safely and responsibly, the reality is that accidents do happen. Often, these accidents — whether that be a car accident, a slip and fall, […]
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What Are the Long-Term Effects of a Brain Injury?
How Serious is a Brain Injury?
One of the most serious potential repercussions from a car accident or other traumatic incident is a brain injury. Anytime a person’s head suffers a sharp blow or a violent jolt to the head, they run the risk of developing a traumatic brain injury (TBI).
Since these injuries are internal, they are not as obvious or as easy to diagnose as an injury to the body, such as a laceration or broken bone. However, brain injuries can cause lasting damage that can take months or even years to heal–or cause permanent impairment that affects a person’s cognition, emotions, and behavior for their entire lives.
It is important to understand the long-term symptoms and effects of traumatic brain injuries, so that those who suffer from them can get proper treatment, as well as fair compensation from the party responsible for the accident. […]
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