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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York Pedestrian Accident Lawyer and Accident Attorney
Once the birthplace of the Articles of Confederation and the meeting spot for the Second Continental Congress, York, Pennsylvania, is now a bustling city with a population of more than 40,000. Today, residents and tourists can enjoy live music in the Market District, beautiful murals in the Royal Square District, and delicious food in the Weco District.
As a pedestrian in York, you should feel safe walking and exploring its rich history. However, pedestrians are put at risk every day in York and across Pennsylvania. In fact, York County reported six pedestrian deaths and 77 pedestrian injuries in 2021 alone.
The Munley Law York pedestrian accident attorneys understand Pennsylvania’s complex regulations governing pedestrian accidents. We also understand the life-altering impact your injuries can have on you and your family. We offer a free case evaluation where we will listen to your story, […]
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York Product Liability Lawyer
When a product manufacturer, their distributors, or retailers put unsafe products into the market and consumers get hurt, the negligent parties must be held accountable.
A product liability lawyers helps individuals who have been harmed by defective or dangerous products recover compensation for their injuries.
At Munley Law, we’ve successfully represented clients harmed by everything from defective medical devices to faulty automotive parts, securing the compensation they need for medical bills, lost wages, and other damages.
Whether you’ve been injured by a poorly designed product, manufacturing defect, or inadequate warning labels, we’ll carefully investigate your case and hold the responsible parties accountable. We work on a contingency fee basis, which means you don’t pay unless we win your case. Contact a York product liability attorney at Munley Law today to schedule a free consultation. […]
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Bensalem Motorcycle Accident Lawyer
Motorcycle accidents in Bensalem can shatter your life instant. In one moment, you’re going for a ride and in the next, you’re left with devastating injuries, massive medical bills, and an uncertain future. When the worst happens, you need the best help on your side. The Munley Law Bensalem motorcycle accident lawyers are committed to fighting for your rights, seeking a fair settlement, and helping you rebuild your life after a motorcycle crash. Call or fill out our online form for a free consultation today.
What Can Our Bensalem Motorcycle Crash Attorneys Do For You?
The Munley law firm handles every aspect of a personal injury case, from the initial investigations to courtroom litigation. Here’s what your lawyer will do to secure a settlement or verdict in your favor:
Handle the paperwork: Filing the paperwork for a personal injury claim is confusing and overwhelming. […]
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What Happens If You Fail to Report a Car Accident in Pennsylvania?
If you’re a driver in Pennsylvania, you’re required by law to report a car accident, no matter how minor the collision, and no matter whether you caused it or not. Failing to report a car accident can lead to serious legal and financial consequences: suspension of your driver’s license, fines up to $2,500, and potential criminal charges.
Your insurance company could use the lack of report as the basis for denying your claim, leaving you responsible for medical and repair costs.
Our seasoned Pennsylvania vehicle accident attorneys at Munley Law can help ensure you meet all reporting requirements and follow the rules for the best outcome. Contact our legal team for a free consultation about your case.
Pennsylvania’s Accident Reporting Laws
What do you need to know if you’re a driver involved in a vehicle accident? […]
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