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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Scranton Pedestrian Accident Lawyer
A Scranton pedestrian accident lawyer at Munley Law can help you understand your legal options for getting the money you need to cover your accident-related expenses and losses. Unlike regular car crashes, a collision involving a pedestrian can result in catastrophic injuries even at relatively low speeds.
With over six decades of experience, our Scranton pedestrian accident lawyers can handle the complex issues of your claim as you concentrate on healing from your injuries. We offer free consultations and handle these cases on a contingency basis. This means you do not pay us anything until we recover compensation for your accident. Call us today to schedule a free case evaluation with our Scranton personal injury law firm member.
Why Hire a Pedestrian Accident Attorney in Scranton, PA
A Scranton pedestrian accident attorney can gather the evidence, negotiate with the insurance company, […]
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Scranton Personal Injury Lawyer
The Scranton personal injury lawyers at Munley Law have been helping clients with their accident claims for decades. Fighting the insurance company alone is never the right option. You could settle your claim for much less than it’s worth. Having our board-certified injury attorneys by your side will give you the legal advice and representation you need to get the maximum compensation for your injuries.
Whether you suffered an auto injury, are dealing with a workers’ compensation claim, or were involved in a truck crash, call Munley Law Firm today to schedule a free consultation.
The Types of Personal Injury Cases We Handle in Scranton
When serious accidents happen in Northeastern Pennsylvania, having a dedicated Scranton injury lawyer can transform your recovery journey. Since our founding in Scranton over 65 years ago, Munley Law has fought relentlessly for injured NEPA residents – it’s not just business for us, […]
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Allentown Workers’ Compensation Attorneys
When your livelihood is at stake, you need an Allentown workers compensation lawyer with a proven record of winning maximum settlements. For 65 years, Munley Law has been helping Lehigh Valley workers recover benefits to pay for their medical bills and lost wages.
Our workers’ compensation attorneys know every tactic insurance companies use to avoid paying claims. We’ve helped thousands of workers like you, and we’re ready to put our experience to work for you today. At Munley Law, we don’t just handle your case – we fight relentlessly to maximize your benefits.
Don’t wait another day. Get a free consultation with our experienced workers’ compensation attorneys in Allentown. Call now, chat live, or fill out our contact form. Remember: You pay nothing unless we win your case. Hablamos Espanol.
Serving Allentown’s Major Industries
As the third largest city in Pennsylvania, […]
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Amputation Lawyer
Amputation injuries, often caused by traumatic accidents, medical malpractice, or severe medical conditions, can have a profound impact on a person’s life forever. More than 5.6 million people are living with the loss of a limb in the U.S. This reality brings about considerable physical, emotional, and financial hurdles, requiring extensive medical treatment, rehabilitation, and prosthetic support — and making the legal journey quite intimidating.
If someone else’s negligence caused your amputation, it’s essential to consult with an experienced amputation lawyer who can help secure the compensation you deserve. A knowledgeable attorney will guide you through the legal process, protect your rights, and fight for the financial support you need for your healing and future.
Understanding Amputation Injuries
Amputation injuries lead to the loss of a limb or part of a limb, […]
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What Are the DOT Requirements for Reflective Tape on a Truck?
Have you noticed red and white reflective tape on the trailers of large trucks? Commercial trailers must install reflective tape that conforms to Department of Transportation (DOT) regulations. Trucking companies can guard against rear-end collisions and other accidents by doing so.
Be aware that these requirements may be relevant to you even if you’re not a trucker or otherwise involved in the trucking industry. For example, perhaps you were injured in a truck accident. If the truck didn’t have the proper reflective tape installed, you could potentially highlight this fact when pursuing compensation for medical bills, lost wages, and other such losses. Discuss your case with our truck accident team at Munley Law for more information.
DOT Reflective Tape Regulations
DOT reflective tape consists of an alternate red-white pattern. You’ve likely noticed this red and white tape on the trailers of large trucks. […]
