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 Is the Difference Between a First-Party and Third-Party Claim?
When you are involved in an accident, you may wonder where you’ll get the compensation needed to recover. Is it your insurance who foots the bill or the other parties who may be at fault? Further, can you still file a lawsuit if you have insurance? First-party and third-party insurance claims are similar in what you can recover in many ways–the key difference is in who is held liable.
Here is what you need to know about first-party and third-party insurance claims.
What Is a First-Party Claim?
In essence, a first-party insurance claim is one where you as the victim of an accident or injury make a claim against your insurance. This means you’ve paid and have an insurance policy for such events and will recover compensation from that policy.
If you have insurance, […]
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Third Party Claims & Workers’ Compensation Lawyer in Philadelphia
No one wants to experience an injury at work, but the unfortunate reality is that sometimes, these things do happen. Some jobs pose a much higher risk of injury than others; for instance, logging workers, roofers, and truck drivers experience a much higher rate of injury at work than most other people. In 209, CNBC reported that truck drivers experienced fatal injuries at a rate of 26 per 100,000.
This is in stark contrast to the overall average rate of workplace injury in the US that year, which was just 3.5 per 100,000. Refuse and recyclable material collectors are statistically even more at risk, with the most common source of injury coming from transportation incidents. In the state of Pennsylvania, construction workers have historically made up nearly a quarter of all workplace fatalities.
Whether you work in one of these industries or in a different field altogether, […]
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Third Party Claims & Workers’ Compensation Lawyer in Hazleton
If you have sustained an injury or occupational disease or death while at work, you are likely exhausted and overwhelmed. And you are not alone; in fact, a report from the Bureau of Labor Statistics stated that, in 2020, “there were 2.7 million nonfatal workplace injuries and illnesses reported by private industry employers.” The good news is that you are very likely eligible to receive workers’ compensation, which can relieve some of your financial burden and cover things like medical bills and lost wages.
In addition to filing for workers’ compensation, you may also be wondering if you’re able to sue a third party who played a role in your accident or injury. If you were injured in the Hazelton, PA area, and a third party (meaning anyone outside your employer and coworkers) was involved in your case, the answer is most likely yes. Did a piece of machinery malfunction? […]
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Nursing & Medical Assistant’s Workers’ Compensation Lawyer
All work comes with its own unique set of risks and challenges, whether those are mental, physical, emotional, or some combination of all three. But nowhere are the risks and challenges more clear than in the healthcare field, where nurses and medical assistants often work 12 hour shifts that are both physically grueling and emotionally exhausting.
In fact, a 2016 study found that 5 percent of occupational injuries to RNs resulted in sprains, strains, or tears, and that these injuries occurred at a rate of 53.1 cases per 10,000 full-time workers. This rate is noticeably greater than the rate for all occupations as a whole (32.6 cases per 10,000 workers). Because people who work in nursing and medical assistance are at such a substantial risk of injury, it’s crucial that those in this industry are aware of their legal rights to workers compensation.
If you or a loved one has experienced an occupational injury or disease while working as a nurse or medical assistance, […]
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ATV Accident Lawyer
Injured in an Off-Road Vehicle Accident? We Can Help.
Recreational vehicles are popular ways for people to enjoy the outdoors, but a fun ATV ride can turn into a life-changing accident. If you or someone you love has been injured in a recreational vehicle accident, an ATV accident lawyer can help you recover from your injuries.
All-terrain vehicles, or ATVs, are often used for recreation, but also provide transportation for farmers, ranchers, hunters, outdoor enthusiasts, and emergency personnel who need to get to places unreachable by car. They can be especially dangerous for children to ride.
According to the U.S. Consumer Product Safety Commission, Pennsylvania has the second highest fatality rates from ATV accidents.
Those who have suffered injuries in ATV accidents should not delay in reaching out to an injury lawyer today. You only have a limited time to build a case and receive compensation to recover from your injuries. […]
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