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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Family Wins $2.85 Million in Auto Wrongful Death Lawsuit
A Dauphin County jury has awarded $2.85 million to the family of a Hummelstown man killed in a 2006 wreck.
Fifty-seven-year-old William H. Smith was killed when a backhoe fell off a hauling trailer on I-83 and struck the vehicle he was driving. The backhoe had been negligently placed on the trailer.
In Pennsylvania, the family of someone killed in an automobile accident caused by the negligence of another person or company can file a wrongful death lawsuit against the responsible parties.
Here is a report in The Patriot-News about the Dauphin County verdict:
Smith, a father of two, died on Jan. 3, 2006 when a backhoe was jolted from a tractor trailer on Interstate 83 and its bucket slammed into his sport utility vehicle.
Smith’s wife, Linda, filed suit a year after her husband’s death. […]
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Text & Wreck Targets Young PA Drivers
Young drivers in Pennsylvania will soon be noticing a “Text and Wreck” button popping up on social media sites.
The logo is the winning entry in a national Distracted Driving Design Challenge sponsored by the U.S. Department of Transportation.
Its creator was 14-year-old high school student Hah’mari Watson, who said the artwork was inspired after she and her family were in a car crash caused by a texting driver.
View or download her winning “Text & Wreck” icon here.
The Distracted Driving Design Challenge was held to create awareness among young motorists about the dangers of texting and cell phone use behind the wheel. The “Text & Wreck” image will be used on Facebook, Twitter, and other social media sites.
“The Department of Transportation is committed to helping young drivers get the message that texting and driving don’t mix,” said U.S. […]
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Yellow Dots Save Lives in Pennsylvania Car Crashes
Two new motorist safety programs make sure Pennsylvania drivers never get behind the wheel without bringing important medical information along.
The Yellow Dot and Emergency Contact Information initiatives were announced November 9 by Governor Tom Corbett:
“Both of these programs speak for people when they can’t speak for themselves, so medical concerns can be addressed and contacts can be reached as quickly as possible,” Corbett said. “When someone is in a crash or they find themselves in an emergency situation, it’s critical that emergency responders quickly find out as much as they can about the victim.”
Participants in the Yellow Dot program fill out the program form with their emergency contact, medical contact and medical information, insert it in the program’s folder and then place it in their vehicle’s glove compartment. Participants then place a yellow dot sticker on their vehicle’s rear window. […]
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PA Cheerleaders Warned of Injury Risk
By now most young athletes and their parents in Pennsylvania are aware of the risk of sports injuries, particularly concussions in football.
Less appreciated are the risks that cheerleaders face – but the American Academy of Pediatrics hopes to change that.
The AAP has issued a policy statement urging coaches, parents and school officials to take steps to make sure cheerleaders get the same coaching, care and protection as quarterbacks and point guards.
Read the full statement: Cheerleading Injuries: Epidemiology and Recommendations for Prevention.
In recent years, cheerleading has gone from exhorting crowds at football games to a year-round activity that combines acrobatics, dance and gymnastics.
Participation has skyrocketed. From 1990 to 2003, the number of U.S. cheerleaders age 6 and older increased from 3 million to 3.6 million, according to the AAP.
Unfortunately, the injury rate has also soared. […]
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7 Ways to Fast-Track Your Sandy Insurance Claim
Claim your insurance protection for damage done by Hurricane Sandy
In the wake of Hurricane Sandy, thousands of Pennsylvanians are filing insurance claims under homeowners, auto, health and even life insurance policies.
Many will face long waits and daunting paperwork.
Some insurance slowdowns are inevitable following a disaster of Sandy’s proportions. Damage estimates range from $7 billion to $50 billion, according to the Wall Street Journal.
But by taking a few simple steps Pennsylvania residents can improve the odds of their claims getting fast-tracked for approval:
- Do your homework. Take pictures or video of the damage. Before-and-after photographs, purchase records and contractor estimates for repairs are especially valuable.
- Hurry up and file your claim. “Experts say that many homeowners hesitate because they aren’t really sure if they have enough damage to merit a claim—or at least a claim that is more than the value of the policy’s deductible,” the Wall Street Journal reported. […]
