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
Multi-Vehicle Crash in Lancaster County Sends Two to Hospital
Police are currently investigating a multi-vehicle car accident that sent two people two people to the hospital on December 13 in Lancaster County.
According to news reports, the accident occurred in Manheim Township where one of the vehicles overturned in the middle of the highway. Police officials say the southbound lanes of Route 222 were closed for several hours as the crash were investigated.
Authorities say two people sustained serious injuries in the accident.
The Difficulties Surrounding Multi-Vehicle Accidents
Multi-vehicle accidents, often called chain-reaction crashes or pileups, can be particularly devastating events that frequently occur on highways and major roadways, especially during adverse weather conditions or periods of heavy traffic. These accidents typically begin when one collision creates a cascade effect, with subsequent vehicles unable to stop in time to avoid the initial crash. Common triggers include sudden braking in dense fog, […]
Read MoreMore information about Insurance
Upper Darby Nursing Home Abuse Lawyer
When you place an elderly loved one in a nursing home facility, you expect them to be treated with dignity and respect. But when you start to notice signs of elder abuse, you can feel like you let your family member down and now have to fight another battle. The Upper Darby nursing home abuse lawyers of Munley Law understand the devastating impacts elder abuse can have on the victim and their family.
At Munley Law, we have 65 years of experience in complex personal injury cases, including those involving neglect in assisted living facilities. If you suspect medical malpractice, sexual abuse, or any form of nursing home negligence, call our law office today for a no-obligation, free consultation.
What is Nursing Home Abuse in Upper Darby, PA?
According to the World Health Organization (WHO), […]
More information about Insurance
Easton Bicycle Accident Lawyer
If you are involved in a bicycle accident in Easton, Pennsylvania, having the support of an Easton bicycle accident lawyer can make a significant difference in the outcome of your case.
Easton bicycle accident attorneys understand the laws and regulations about cyclists and the complexities of personal injury claims arising from bicycle accidents. Their primary goal is to advocate for the rights of their clients and ensure they receive fair compensation for their injuries, medical expenses, lost wages, and other damages resulting from the bicycle accident.
At Munley Law, we’ll fight to ensure you receive the compensation you deserve for your injuries and damages. Call the Easton bicycle accident lawyers of Munley Law today for a no-obligation, free consultation.
How Do Bicycle Accidents in Easton Differ from Other Vehicle Accidents?
Understanding bicycle accidents means knowing the key factors that affect how these personal injury cases are dealt with in the law. […]
More information about Insurance
Can a Passenger Sue Both Drivers After a Car Accident?
You can file an insurance claim or lawsuit to pursue compensation for medical bills, lost wages, and related losses when you’re hurt in a car accident while driving in Pennsylvania. The exact type of claim you file depends on your insurance coverage.
However, you don’t have to be driving to be hurt in an auto wreck. Maybe you’ve been injured as a passenger in a car accident.
This can already complicate matters, as you might not know whose insurance company (if any) is responsible for compensating you now. The case may be even more complex if multiple drivers contributed to the accident.
Determining liability is very important in these cases. For a passenger to receive the full amount of compensation available, they may need to file claims with multiple insurance companies or liable parties. […]
Read MoreMore information about Insurance
Industrial Accident Lawyer
Pennsylvania is home to a robust industrial sector. Thousands of Pennsylvanians work in manufacturing plants, steel plants, chemical plants, power plants, construction sites, and other high-risk industries. Even with safety measures in place, accidents happen. If you suffered a work-related injury, you are probably facing a mountain of medical bills at a minimum. In the event of a catastrophic injury, you are likely drowning in medical bills and struggling to adjust to a life with permanent disability. A work injury attorney can help you get the compensation you need and deserve.
Industrial Accident Injury Claims: What You Need to Know
When you have suffered injuries from an industrial workplace accident, you may be able to seek financial compensation. An industrial injury lawyer will tell you the options in your specific case during your no obligation consultation. The most common types are workers’ […]
