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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The Importance of Gathering Evidence in a Personal Injury Lawsuit
When filing a personal injury lawsuit after an accident, gathering comprehensive evidence strengthens your position and can significantly impact your compensation. While collecting evidence might seem overwhelming, an experienced personal injury attorney can guide this process, ensuring no critical details are overlooked. Multiple expert opinions and diverse forms of evidence enhance your case and help establish the facts.
Key Types of Evidence and How Your Attorney Can Help
Photographs and Video Evidence
Visual documentation from cell phones or cameras often provides the clearest evidence of liability. These raw, unaltered records help insurance adjusters and attorneys understand what occurred during the incident. Your attorney will know what details need photographic documentation. The immediate accident damage provides only part of the story. Environmental conditions can impact liability significantly. Road conditions may have contributed to the incident. […]
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Personal Injury Claims: What to Expect
Getting hurt in an accident can turn your life upside down. Understanding how personal injury claims work will help you get the compensation you deserve while focusing on your recovery.
How Long Do Most Personal Injury Claims Take?
Most personal injury claims take four to 12 months to wrap up, though some cases might need more time. The timeline depends on how serious your injuries are, who was at fault, and whether the insurance company works with you or against you. If your case goes to court, it could take longer than if you settle outside court.
It’s smart to wait until your doctors say you’re as recovered as you’re going to get before settling. This way, you’ll know what your long-term medical needs and costs will be.
How Does the Claims Process Work?
The personal injury claims process is straightforward – […]
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Can I Sue the Insurance Company for Delaying a Claim?
Accepting the first settlement offer an insurer makes when filing a personal injury claim, auto claim, or other such claim is often unwise. An insurance company’s initial settlement offer may not represent the full amount of compensation you deserve.
However, once you do accept a settlement amount, you may expect the insurance company to issue a check relatively shortly after. Perhaps this hasn’t happened.
An insurance company may not be engaging in good faith practices if it is delaying payment unreasonably. Speak with our personal injury team at Munley Law to learn more about your options in these circumstances.
Understanding Insurance Bad Faith
There is an implied contract between an insurer and a client. Per this implied contract, the insurance company theoretically agrees to operate in good faith, […]
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Wilkes-Barre Medical Malpractice Lawyer
For 65 years, the Wilkes-Barre medical malpractice lawyers at Munley Law have secured millions in compensation for victims of medical negligence. Trusting your health and safety to someone else can be incredibly vulnerable. Medical errors and negligence can lead to long-lasting consequences, emotionally and physically affecting you. When local facilities, such as Geisinger Wyoming Valley or Wilkes-Barre General, fail to uphold the standard of care, we hold them accountable.
At Munley Law, we understand the emotional toll this situation can take on you and your family. We are committed to providing the compassion, care, and timely service you deserve. Our legal team offers a free initial consultation and advice tailored to your case needs. Contact us today for your free consultation.
Proving Medical Malpractice in Wilkes-Barre
According to the Unified Judicial System of Pennsylvania, there were 1,322 medical malpractice filings in Pennsylvania in 2022, […]
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What Do Workers’ Compensation Attorneys Do?
A Workers Comp Attorney Can Help You Recover
If you’re wondering “What do workers’ compensation attorneys do?” the answer is simple. When you suffer a serious injury at work, the Munley Law Personal Injury Attorneys workers’ compensation lawyers are here to help. Getting injured at work can be extremely stressful. If your injury is severe and leaves you incapable of returning to work right away, it can throw you and your family into financial uncertainty. But that can also leave you stressed, wondering “how much does
Workers’ compensation, which is money paid to employees who are injured on the job, should be readily available to all injured employees. Unfortunately, that’s not always the case. This is why you need an experienced workers’ compensation attorney on your side. They will help you navigate through the paperwork and claims process. If your case is denied, […]
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