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 you MUST know before buying car insurance
One of the most important factors in determining whether you are able to take legal action after a car accident is the tort option on your auto insurance policy. Unfortunately, many people don’t know what tort option they have.
Listen as Attorney Marion Munley explains the difference between full and limited tort, and why it makes a big difference.
Full Tort vs. Limited Tort
When buying car insurance In Pennsylvania, you have the option to choose full tort or limited tort. Full tort allows you to pursue legal action in the event of an accident, regardless of the severity of your injuries. Limited tort, on the other hand, limits your right to compensation in an auto accident. And, this limitation does not just apply to you – it may also apply to the other members of your household.
With a limited tort policy, […]
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Contemplating a new car? IIHS names 71 safest
Amid a series of safety issues and recalls this year, there is good news for drivers: more vehicles meet stricter safety standards in 2015.
It’s been a rough year for the auto-safety world, with recalls from GM followed by recalls from airbag manufacturer Takata affecting vehicles from seven major automakers. Last week, Takata’s president, Stephan Stocker, stepped down from his position. He will remain with the company as a board member; Chairman Shigehisa Takada will take his place. Both Takada and Stocker, as well as other Takata executives, will reportedly take 50% pay cuts in the coming months.
While Takata has refused to expand the recall on its airbags nationwide, automakers including Honda, Chrysler, Ford, Mazda, and BMW have issued a nationwide recall on their vehicles containing Takata airbags.
But, the Insurance Institute for Highway Safety offers drivers hope as they announced last week that their list of vehicles earning the two top safety ratings (Top Safety Pick and Top Safety Pick+) is nearly twice as long as last year’s – and that’s with tougher criteria. […]
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Taxi Cab Accident Lawyers
Munley Law Personal Injury Attorneys has more than fifty years of experience in handling taxi accident lawsuits in Pennsylvania, New York, New Jersey, and across the country. Our experienced taxi cab accident lawyers have won some of the the largest car accident verdicts and settlements in the country. As with any auto accident, the injuries caused by a taxi accident can be catastrophic, but even seemingly minor injuries can have a major impact on the victim’s life. That’s where the attorneys at Munley Law Personal Injury Attorneys can help. We have consistently been named to the Best Lawyers in America, Super Lawyers, the Multi-Million Dollar Advocates Forum. We will help you sort out your medical bills and expenses, recover any wages that you have lost due to your injuries, and aggressively battle the auto insurance companies to win your case. See our list of most frequently asked questions about car accident cases, […]
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What To Do In A Car Accident
9 Steps To Take When You Are In An Accident
Every year there are over 10 million auto accidents in which 2 million people are injured and 37,000 are killed. With over 253 million vehicles on the roads today, the chances of someone being involved in a car accident are incredibly high. Not all accidents involve serious injury or death, but that does not limit the stress that a car crash can cause. After a car accident, it is often difficult to make sure you handle the accident properly. The car accident lawyers at Munley Law Personal Injury Attorneys have put together a 9-step list of what you should do immediately following an accident. You should:
1.) STAY CALM, KEEP THE ACCIDENT FROM GETTING WORSE
• Turn off the vehicle’s ignition
• Turn on four-way flashers
2.) RENDER AID
If anyone has been injured in the accident:
• Render first aid but only do so if you are first aid qualified
• Stop any bleeding
• Call an ambulance
• Do not move an injured person in any way that could possibly add to the injury
3.) PROTECT THE SCENE FROM FURTHER DAMAGE
• Make sure motorists approaching the accident are warned
4.) CALL POLICE
• Always call the police so that there is an accident report on file
• Think before you speak. […]
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OSHA tightens standards on workplace injury reporting
Last month, the US Occupational Safety and Health Administration (OSHA) strengthened the rules that required businesses to report serious workplace injuries and fatalities. Their goal is to uncover workplace hazards faster and fix problems sooner by requiring companies to report more on-the-job injuries to federal regulators.
According to OSHAs revised safety rule, effective January 1, 2015, companies will be required to report all work-related in-patient hospitalizations, amputations, and eye losses within 24 hours. Current laws only require employers to report in-patient hospitalizations if three or more employees are affected, and amputations and eye losses do not have to be reported. Remaining unchanged is the requirement that employers report work-related fatalities within eight hours.
The Bureau of Labor Statistics (BLS) preliminary 2013 workplace fatality data found that 4,405 workers were killed on the job in the US in 2013. That translates to an average of 85 deaths per week or 12 deaths every day. […]
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