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
Are Slip and Fall Cases Hard to Win in Philadelphia?
Slip and Fall Injuries are Serious and Costly
A slip and fall, or trip and fall, accident is essentially what the name suggests: it’s an accident where a person slips or trips and falls on another individual or business’s property, leading to some degree of injury.
To many adults, the idea of slipping and falling may not seem like much to be concerned about. But in reality, a simple slip and fall incident can cause a great deal of damage, pain, and suffering. The CDC reports that 1 in 5 fall cases results in a serious injury, such as a broken bone or concussion. Moreover, approximately 800,000 people are hospitalized each year for injuries related to falling.
Beyond the physical injuries caused by a fall, the monetary burden can be immense. The CDC reported that in 2015, […]
Read MoreMore information about Insurance
Can You Sue for a Slip and Fall Accident?
Slip & Fall Accidents are More Common Than You Think
A slip and fall accident is, essentially, exactly what the name implies: 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 anything from a faulty handrail to uneven pavement to a slippery surface.
For someone young and healthy, a fall might not sound like much to worry about, but the reality is that the ensuing injuries are often more serious than meets the eye. It’s also a far more common occurrence than you may realize; in fact, more than half a million slip and fall accidents requiring medical care occur in North America each year.
So what can you do if you are injured in a slip and fall accident? Many people may not realize that pursuing legal action is absolutely a possibility. […]
Read MoreMore information about Insurance
Do Most Slip and Fall Cases Settle Out of Court?
Settling a Slip and Fall Accident Case
Do most slip and fall cases settle out of court? 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. While a fall may not sound like something serious, the reality is that it can cost much more extensive damage than one might expect. An accident of this type is particularly dangerous for people over the age of 65, who are both more prone to falling and more prone to experiencing severe injury as a result.
If you or a loved one has experienced a slip and fall accident, you may be wondering what your next steps are. […]
Read MoreMore information about Insurance
Pros & Cons of Hiring a Workers’ Comp Lawyer
Benefits of Hiring a Workers’ Compensation Lawyer
Getting hurt on the job can lead to expensive medical treatment, lengthy physical therapy, costly rehabilitation, and time away from work. Workplace injuries can be serious, and even result in death. According to the Bureau of Labor Statistics, 2.7 million workplace injuries and illnesses occurred in 2020.
Workers’ compensation benefits exist to cover injured workers’ medical expenses and lost wages suffered. These benefits also compensate families of workers who are killed on the job. A Wilkes-Barre workers’ comp lawyer can help you recover the compensation you deserve.
But do you need a workers’ compensation lawyer to handle your claim? The answer is almost always yes. If you have been injured at work, Munley Law Personal Injury Attorneys’s workers’ comp lawyers can help you understand your rights. Call us at 844-303-7321 or email us to schedule your free initial consultation. […]
Read MoreMore information about Insurance
Questions to Ask Your Workers’ Comp Lawyer
Know What to Ask an Experienced Workers’ Comp Lawyer
A workplace accident may mean prolonged medical treatment, physical therapy and rehabilitation, and time off work. Workers’ compensation benefits exist to cover these expenses, but obtaining your benefits isn’t always easy. A workers’ compensation lawyer can help you recover the benefits you are owed.
In Pennsylvania, most employees are covered under workers’ comp for medical costs and lost wages caused by a work-related injury or death. Under Pennsylvania’s workers’ compensation law, injured workers have a right to file a workers’ compensation claim if they have been injured while carrying out their work-related tasks either on-site or off-site. How long these benefits last depends on the severity of your injury and the possibility of long-term disability.
Unfortunately, employers and insurance companies often deny workers’ comp claims, even when they are valid. That’s where a workers’ […]
Read More
