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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Pennsylvania Among the U.S. States with the Most Dog Bites
Dog Bite Prevention Week
April 9-15 is Dog Bite Prevention Week. The American Humane Association, the U.S. Postal Service, and other groups observe this week each year in an effort to help reduce the number of dog bites nationwide.
This year, multiple reports have come out indicating that dog bites increased in 2016. According to the USPS, More than 6,700 postal workers suffered a dog bite last year. That’s 200 more than in 2015. Some researchers connect this increase with the growing popularity of online shopping and home delivery services.
The Insurance Information Institute and State Farm also report that dog bites increased by as much as 18% overall last year. Note that this number may other types of include dog-related incidents – not just bites.
Which states experience the most dog bites? Pennsylvania ranks #4 in the country, […]
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New tech solutions for truck safety
As truck accident lawyers, we don’t just handle truck accident cases, we also strive to improve safety on our nation’s highways. We regularly join with other advocates across the country in support of better safety laws and regulations. Sometimes, working toward change can feel like an uphill battle. So, it’s especially gratifying to see trucking companies and researchers voluntarily investing in safety technology that will save lives.
Artificial Daylight to Improve Trucker Health, Safety
One exciting tech solution to a serious truck safety issue is the use of artificial daylight in truck cabs.
Logging 10+ hour days and making long overnight trips can take a toll on truck drivers’ physical and mental health. It also presents a safety hazard – a drowsy driver behind the wheel of an 80,000lb vehicle can spell disaster. So, […]
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How Much Will I Be Paid for Lost Wages?
As Pennsylvania workers’ compensation lawyers, we often find that one of the most common problems related to workers’ comp is how little people know about it. If you’ve never been hurt at work before, the claims process can be confusing. You’ll probably have lots of questions about how and when you can recover your lost wages.
One of the most common ones is: How much will I be paid for my lost wages?
If you suffer an injury on the job that prevents you from being able to work, workers’ compensation insurance exists to cover your medical bills and your wages until you can work again. In this way, workers can recover their losses without resorting to a lawsuit. Just how much you will receive, however, can vary.
Typically, you’ll receive compensation benefits for 2/3 (or 66.6%) of your average weekly wage. […]
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At Long Last, Better Underride Guards on Tractor-Trailers
New underride guards to help prevent fatalities in the event of a crash
How about some good news? After years of pressure from safety advocates, semitrailer companies are making changes.
For the first time, the Insurance Institute for Highway Safety has issued the “Toughguard” rating to semi-trailer manufacturers who pass the new underride guard crash tests. Five of eight of the largest North American semitrailer manufacturers earned top honors.
An underride guard is the metal bumper on the rear of a tractor-trailer, designed to keep smaller cars from going underneath the truck in the event of a rear-end crash. However, underride guards frequently prove ineffective, breaking or buckling in a collision. When they fail, cars slide under the rear of the trailer, crushing the cabin, as in the photo below. As you can see in the picture, vehicle occupants stand little chance of survival. […]
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What to Do if Your Vehicle Breaks Down
Car trouble can be a nightmare any time of the year, but winter weather conditions can make even common mishaps more dangerous.
According to PennDOT, it’s Winter Driving Awareness Week. We’ve already shared some winter weather driving tips to help you stay safe in the ice and snow. But what if your car breaks down? The first step to staying safe is to not panic. Check out the tips below in the case of a wintertime breakdown.
What to do if your car breaks down
1. Pay attention to your vehicle and assess the problem. If you notice steering problems, unusual noises, smoke, or other warning signs, remain calm. Don’t forget to be aware of your surroundings; note your location, put your blinker on, and find a place to pull over.
2. Carefully pull off of the road, if possible. The ideal place to pull over is, […]
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