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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Wilkes-Barre Personal Injury Lawyer
For 65 years, injury victims have turned to the Wilkes-Barre personal injury lawyers at Munley Law following a serious accident. You need a law firm that will fight for you and get you compensation. Munley Law has the experience and resources you need for your personal injury lawsuit. And most importantly, we get results for our clients.
If you live in Wilkes-Barre, PA, and suffered a severe injury following a car accident, had a work injury, or lost a loved one in a truck crash, Munley Law can help.
Contact us today to schedule a free consultation.
The Role of a Wilkes-Barre Personal Injury Attorney
Understanding the role of a Wilkes-Barre injury attorney is essential in recognizing the value they bring to your case.
- An injury lawyer will review the facts of your case, determine the potential for compensation, […]
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California Truck Accident Lawyer
The trucking industry is vital to California’s economy. It ensures fresh food gets to grocery stores, delivers parts to factories, and more. It generates billions in revenue each year by moving goods like food, fuel, electronics, furniture, and clothing.
Given the high volume of trucks on California’s roads, like I-5, I-10 and I-80, accidents are inevitable due to the increased traffic and the inherent risks associated with large commercial vehicles. If you’ve been in a truck accident, an experienced California truck lawyer can help you get the compensation you need.
We are Award-Winning Trucking Accident Attorneys
Our award-winning trucking accident attorneys are dedicated to providing exceptional legal representation to truck drivers in
California. At Munley Law Personal Injury Attorneys, our law firm is recognized for its experience, expertise, and success in handling trucking accident cases nationally.
Munley Law Personal Injury Attorneys has been consistently recognized for excellence in legal practice. […]
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What Percentage of Work Zone Related Accidents Involve Large Trucks?
When you drive by a work zone on a main road or highway, you’ll likely see several large trucks on your route: dump trucks, garbage 
trucks, heavy trucks, oversized trucks, tractor trailers, and more. Construction workers use these large vehicles to pave roads, fix potholes, and even build new parts of the highway. While these massive motor vehicles are essential to construction work, they are inherently dangerous and can cause devastating harm to passenger vehicle drivers on the road.
We’re going to talk about the statistics on large trucks, work zone accidents, fatal crashes, how to avoid an accident, and what to do if you’ve been in an accident with a large commercial truck in a work zone.
If you have more questions, the Munley Law truck accident lawyers are standing by. We offer a free consultation where we will discuss your story, offer expert legal advice, […]
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Stroudsburg Tractor Trailer Accident Lawyer
With more than 60 years of experience fighting for the rights of those injured in truck accidents in Monroe County, the Stroudsburg tractor trailer accident lawyers at Munley Law are the firm for your tractor trailer accident. You don’t have to handle it alone. The trucking companies will do everything they can to provide you with minimum financial relief, and the insurance companies will point fingers to do the same. But Munley Law knows how to help.
If you or a loved one were hurt in a tractor trailer accident in Stroudsburg, do not take on the trucking companies alone. Our Stroudsburg truck accident lawyer is here to support you and your family in your time of need. Call today to schedule a free consultaiton.
How Common Are Tractor Trailer Accidents in Stroudsburg?
With I-80 and Route 33 serving as some of the busiest roadways in Pennsylvania that connect with or intersect through Stroudsburg, […]
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What Happens If Someone Hits You and They Don’t Have Insurance?
It is estimated that 1 in 8 drivers in the United States are uninsured. Unfortunately, this means if you are involved in a car accident, you may encounter an uninsured motorist. But what happens if someone hits you and they don’t have insurance?
The answer largely depends on the state you live in. Sometimes, your own insurance may cover the losses you incurred in the collision and in others, you may have to file a personal injury lawsuit.
The extent of your injuries as well as if you carry uninsured motorist (UM) coverage or underinsured motorist (UIM) coverage in your insurance policy will also determine where and how you can seek compensation.
Munley Law car accident attorneys help drivers involved in car accidents with uninsured motorists and can explain your options.
