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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How long does it take to resolve a personal injury case?
How Long Does It Take to Resolve a Personal Injury Claim?
One of the most common questions that our clients ask is: how long it will take to settle my personal injury case? Unfortunately, no lawyer can answer that question for certain because every case is different and it can take time to reach the best outcome possible (if you encounter a lawyer who claims to be able to resolve your case in a fixed time period, that may be a red flag). And of course, if the insurance company refuses to offer an acceptable settlement, your case may go to trial which will extend the timeline a bit further.
To help you understand what to expect in a personal injury case, our experienced personal injury litigation team at Munley Law Personal Injury Attorneys explain the timeline of a typical case and the factors that can impact your recovery. […]
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Frequently Asked Questions About Sepsis
Sepsis FAQ: I Was Diagnosed with Sepsis–Can I Sue the Hospital?
What is sepsis and is it serious?
According to the Center for Disease Control and Prevention (CDC), sepsis is the body’s extreme inflammatory response to an infection that occurs when harmful germs, bacteria, and toxins enter the blood, skin, lungs, urinary tract, or other tissue and cause an infection. If that infection is not treated, it can spread and cause sepsis.
The CDC classifies sepsis as a life-threatening medical emergency, sometimes resulting in the need for amputation, organ failure, and death.
Sepsis has a remarkably high mortality rate; about 50% of the 1.5 million people who contract it go into septic shock.
What Causes Sepsis?
Any infection can cause sepsis, but the most common types of infections that eventually lead to sepsis are:
- Pneumonia and Other Lung Infections
- Urinary Tract Infections
- Abdominal Infections
- Bloodstream Infections
- Kidney Infections
- Skin Infections
According to the CDC, […]
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Failing to signal causes countless accidents
We’ve all experienced this kind of bad driving: a driver turns in front of you or merges into your lane unexpectedly without using their turn signal. It’s not just inconsiderate – getting lazy with the turn signal leads to crashes every day.
Over 750 billion times per year, drivers fail to properly use their turn signals. According to a study by the Society of Automotive Engineers (SAE), drivers fail to signal when switching lanes 48% of the time and fail to signal when turning 25% of the time. Motorists also improperly leave their blinkers on long after changing lanes or use the wrong turn signal an additional 10% of the time
Why Are Turn Signals So Important?
The SAE study demonstrates a need for more research to understand and combat the problem of turn signal neglect. But why is it so important that drivers use turn signals when changing lanes, […]
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Business Interruption Insurance
Business interruption insurance is designed to cover the loss of income normally earned by a business as a result of the forced suspension of operations. Unlike property insurance, which covers physical damage, business interruption insurance protects against lost income while the business is closed, and during the rebuilding period after the closing.
Given the current coronavirus pandemic, the Governor of the state of PA, along with governors in many states throughout the country, has issued a state-wide mandate requiring all non-essential businesses to close. As a result, businesses are looking to their business interruption insurance to help them survive.
Most business interruption policies will cover:
Profits that would have been earned, based on prior financial statements
Fixed costs still being incurred despite the closure
Extra expenses to allow the business to continue to operate until a return to more normal circumstances
Employee wages to allow you to retain your employees
Taxes to allow you to remain current on taxes and avoid penalties
Loan payments
When businesses are allowed to re-open, […]
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Coronavirus Business Interruption Insurance Lawyers
Munley Law Personal Injury Attorneys is currently handling cases involving business interruption insurance claims.
Contact us for a consultation, free of charge.
The novel coronavirus has prompted orders for non-essential businesses to close their doors, causing small business owners nationwide to lose revenue. In order to survive, many have turned to their business interruption insurance policies, only to have their claims denied.
Six states including Pennsylvania have introduced legislation that would extend business interruption coverage to include closures forced by a global pandemic. Meanwhile, multiple lawsuits have been filed against insurers who have refused to pay, and more are sure to follow.
If you are a small business owner whose insurance company has denied your business interruption claim during the COVID-19 pandemic, we invite you to contact us for a free consultation.
Insurers resist paying for these claims because they know it will be costly. […]
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