Insurance

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

Feds Urge Smartphone Makers to Help Fight Distracted Driving

DISTRACTED DRIVING

The National Highway Traffic Safety Administration (NHTSA) faces an uphill battle against distracted driving. Deadly car accidents are on the rise, and electronic distractions – apps, social media, and texting behind the wheel – are to blame.

Car accident fatalities are at their highest since 2009, and 2016 has seen a nearly 10% jump over last year. Insurance companies and safety experts point to driver distraction as the most likely culprit. And it’s easy to see why. In a world where we are almost never disconnected from our phones, many smartphone apps are practically designed for use while driving. To see what an epidemic distracted driving has become, simply look to your left or right when stuck at a traffic light, observes Nick Kurczewski at Cars.com. You will more than likely see one of your fellow drivers looking down at their phone. […]

Pennsylvania #3 in the U.S. for Deer Collisions

deer collision It’s the first day of fall. The new season brings lots to look forward to. But, for Pennsylvania drivers, it also means you’re more likely to encounter a deer on the road.

Pennsylvania is now #3 in the U.S. for deer collisions – up from #4 last year. State Farm estimates that one in 67 Pennsylvania drivers will file an insurance claim for a car accident involving a deer in 2016.

Why does the risk increase in the fall? October through December is deer mating season, which also coincides with hunting season when deer are likely to be on the move. At the same time, days are getting shorter and darkness falls earlier, reducing driver visibility.

Tips to avoid hitting a deer

Slow down, particularly at dusk and dawn. Especially on rural roads or in wooded areas, […]

Single Vehicle Accident Lawyer

Not all car accidents involve more than one vehicle; sometimes, it can just be a single vehicle. When this happens, you may be wondering how to proceed with your insurance. After all, who else is to blame for your accident? How will you be able to recover for your injuries? Who will pay for the damages?

When you get in a single vehicle accident, before talking to the insurance company, your first call should be to the Scranton personal injury law firm Munley Law Personal Injury Attorneys. With more than 55 years of experience in personal injury law, our team of award-winning auto accident lawyers are ready to help you get the compensation you need to recover from your injuries. We’ve helped thousands of clients in many forms of accidents and we can help you with your case. […]

How effective are night driving restrictions for teens?

teen driver night driving Most nighttime accidents among teens occur before midnight, a new study shows. This means that night driving restrictions on teens that prohibit driving after midnight may be ineffective.

Driving in the dark increases crash risk for all drivers. Young and inexperienced drivers face an even greater risk; one-third of fatal teen car crashes happen at night. That’s why every state in the U.S. (except VT) has laws restricting how late newly licensed teen drivers can be on the road unsupervised. In 23 states and the District of Columbia, the ban goes into effect at midnight or later. New research by the Center for Disease Control and Prevention suggests that this is too late.

Ruth Shuts, a researcher at the CDC, suggests 9 p.m. or 10 p.m. might be a more appropriate curfew for unsupervised newly licensed drivers. […]

Dog Bite Prevention Myths Debunked

When it comes to dog bites, can you separate fact from fiction?

At Munley Law Personal Injury Attorneys, we love our dogs. But, we’re also very familiar with how devastating a dog bite can be. Many of these bites are preventable. Knowing the signs and brushing up on some dog-safety tips can help you or your child avoid an attack. That means sorting out fact from fiction, and dispelling common myths and misinformation.

Dog Bite Prevention Myths vs. Facts

You can tell whether a dog will be friendly or aggressive based on the breed: FALSE. While some types of dogs account for more bites than others, any dog can bite, so you shouldn’t assume a dog is friendly based on breed.
Most dog bites happen with strange or stray dogs: FALSE. You’re most likely to be bitten by a dog at the home of a friend or family member. […]