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.
More information about Insurance
Do All Workers Compensation Cases End in a Settlement?
Understanding Workers Comp Settlement Cases
While it’s true the vast majority of workers compensation cases end in a settlement, there are occurrences where it could end in court. Usually, the insurance or employer can come to an agreement with the injured employee that works best for both sides.
However, if you’re asking “Do all workers compensation cases end in a settlement?” the answer is no. If for any reason, there is not an agreed settlement, a workers compensation case can be sent to a judge to make a ruling.
To ensure you receive maximum compensation, or in the case of a trial, the best representation, you should have an experienced lawyer by your side. The workers compensation lawyers at Munley Law Personal Injury Attorneys have been representing the hardworking people of Northeastern Pennsylvania for more than 60 years. […]
Read MoreMore information about Insurance
How Common Are Slip and Falls?
Slip and Falls Accidents are Very Common
Slip and fall accidents remain one of the most common causes of injury in the United States with more than 3 million older adults being treated in emergency rooms for fall injuries each year. Further, slips, trips, and falls remain the most common cause of injury in retail stores.
While these accidents are common, they also can be costly. Learn more about the common causes, injuries, and costs of slip and fall accidents and how the slip and fall lawyers at Munley Law Personal Injury Attorneys can help.
What Are Common Causes of Slip and Fall Accidents?
Slip and fall accidents can occur anywhere– in residential, commercial, industrial, and public places. Because of this, there is a responsibility for everyone to keep spaces clear and free of hazards. Unfortunately, this doesn’t always happen, […]
Read MoreMore information about Insurance
How Long After a Slip and Fall Can You Sue?
Determining When to Sue in a Slip and Fall Case
The state you live in and laws surrounding personal injury and wrongful death ultimately determines how long after a slip and fall you can sue. While state laws take into account the amount of time it takes to file a claim with insurance, partake in negotiations, and in some cases, go to trial, should you miss the statute of limitations, you lose the right to seek legal recourse against the party who owned the property and caused your injury.
Learn more about slip and fall statute of limitations and how Munley Law Personal Injury Attorneys can help get the compensation you deserve for your losses.
Pennsylvania, New York, New Jersey, and Delaware Slip and Fall Statute of Limitations
For more than 60 years, […]
Read MoreMore information about Insurance
What is the Average Settlement for a Slip and Fall Accident?
Slip and Fall Accident Settlements
Many people who suffer slip and fall accident want to know what the average settlement is, especially if you or a loved one recently suffered a serious injury or even wrongful death. While no two slip and fall accident cases are the same, there is still a lot of information to be gathered from what an “average” slip and fall settlement may yield to victims.
The best way to understand how much your case is worth is by speaking directly to a Munley Law Personal Injury Attorneys slip and fall accident lawyer. At Munley Law Personal Injury Attorneys, we work on a contingency fee basis, which means we don’t get paid unless we win your case. That means it’s free to speak to a lawyer to understand your options and what your an expect. […]
Read MoreMore information about Insurance
Should I Get a Lawyer for a Slip and Fall?
A Slip and Fall Accident Attorney Can Help
A slip and fall accident occurs when one party is injured when slipping or tripping and falling, usually on another person’s property, due to some sort of hazardous condition. This “hazardous condition” could be any number of things, such as a wet or slippery floor, a faulty handrail, or loose carpeting.
Many people may not realize just how serious the injuries caused by a slip and fall accident can be, for anyone, but particularly people over 65. In fact, 75% of slip and fall accident deaths occur in this age group, and 66% of all injury cases in people over 65 are the result of a fall.
If you have been injured in a slip and fall accident, you may well be entitled to compensation. But simply determining whether you have a case, […]
Read More
