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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PA Legislator to Propose Cellphone Ban
This month we reported that law enforcement have been challenged when enforcing Pennsylvania’s anti-texting law. Since the law allows for talking on the cellphone, drivers can deny they were texting if pulled over and say they were calling someone. At least one Pennsylvania legislator wants to do something about it and is proposing a ban on all cellphone use behind the wheel.
The Pocono Record reports House Appropriations Minority Chairman Rep. Joseph Markosek, D-Allegheny plans to introduce the new regulations in the fall. Although the bill has not yet been circulated for co-sponsorship, Markosek believes it has support within the Democratic caucus.
The ban, that will result in a fine of $50, or $100 if driving in a school zone, work zone or highway safety corridor, is being introduced to help police enforce the current ban on texting while driving.
The Pocono Record references the Pennsylvania Department of Transportation statistics that estimate 58 deaths and more than 14,000 distracted-driving car crashes occurred in 2011. […]
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2011 Pennsylvania Crash Statistics Reveal Pennsylvania Highways are Getting Safer
The 2011 Pennsylvania Crash Facts and Statistics booklet, published by the Bureau of Maintenance and Operations, Pennsylvania Department of Transportation, is now available. The report is a statistical review of motor vehicle crashes in Pennsylvania for the calendar year 2011.
According to PENNDOT, Pennsylvania roadways are getting safer. In fact, the 2011 fatality rate of 1.27 deaths per hundred million vehicle-miles of travel was the second lowest ever recorded in Pennsylvania since the department started keeping records of this in 1935. In addition, the 1,286 accident fatalities in 2011 were the second lowest recorded over the last 68 years.
Following are some of the key findings from the report:
- The total number of reported crashes in 2011 increased 3.4% compared to 2010, but the number of deaths decreased by 2.9%.
- In 2011, there were 125,395 reportable traffic crashes in Pennsylvania. […]
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Pennsylvania Drivers Urged to be Aware of Information Exchanged After a Car Accident
Our Pennsylvania car accident attorneys encourage all drivers to do the right thing after a car accident: stop, assist others involved, call the police, exchange information with others, and contact your doctor. All of these are key steps to help minimize the stresses associated with being in a car crash and to help ensure that all legal processes are completed.
However, according to the National Association of Insurance Commissioners (NAIC) while it is important that anyone that has been in an accident shares appropriate information, it is critical that they not share too much information and risk putting themselves in jeopardy of identity theft.
The NAIC, the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators in the U.S., reports identity theft is one of the fastest-growing crimes in the U.S. Federal statistics estimate nearly 9 million Americans have their identities stolen each year. […]
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Pennsylvania Car Accident Lawyer Warns that Higher Unemployment Could Mean Fewer Insured Drivers
Scranton, PA, August 18, 2012 — An uptick in the number of people in Scranton/Wilkes-Barre who are out of work could heighten the risk for those behind the wheel, says Pennsylvania car accident attorney Caroline Munley.
This summer, the unemployment rate for the Scranton/Wilkes-Barre metropolitan area broke the nine percent mark for the first time since September 2011, according to the Scranton Times-Tribune. That was a full percentage point above the national average and two points above the rate for Pennsylvania as a whole.
“Unfortunately, when people lose their jobs, one thing they may do to cut costs is to cancel or reduce their car insurance,” said Munley, managing partner of the nationally recognized Pennsylvania personal injury firm of Munley Law, which has its headquarters in Scranton and offices across the state.
The law firm represents car accident victims in Pennsylvania and across the Northeast in matters that often involve car insurance issues. […]
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Pennsylvania Drivers Encouraged to Observe National Cell Phone Courtesy Month
Just last week we reported on the U.S. Department of Transportation’s initiative to combat distracted driving – the Blueprint for Ending Distracted Driving. Our Pennsylvania car accident attorneys are committed to raising awareness of the dangers of distracted driving, most often caused by cellphone use behind the wheel. Now, “National Cell Phone Courtesy Month” runs through July, and PA drivers have yet one more opportunity to put down their cellphones when driving.
Jacqueline Moore, an international etiquette expert, began the cellphone courtesy initiative in 2002 when she realized that many Americans were unsure of the etiquette around cellphone use. Although her intent of the campaign is to encourage others to be more respectful of their surroundings while using their cell phone, as distracted driving becomes more widespread, cellphone courtesy should extend to vehicles. According to government statistics, over 3,000 Americans lose their lives every year on U.S. […]
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