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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General Attorney vs Trial Attorney: What’s the Difference?
Not all attorneys are the same. You might already understand that some types of attorneys practice law differently from others. For example, district attorneys prosecute those accused of crimes in criminal cases while defense lawyers represent them.
However, it’s also important to understand the difference between general and trial lawyers. This is particularly true if you have a personal injury case or similar matter that may go to trial. Hiring a lawyer with courtroom experience could provide you with a significant advantage during settlement negotiations.
At Munley Law, we’d be happy to discuss our trial experience when reviewing your personal injury case. Contact us today for a free consultation.
Why a Trial Attorney Makes a Difference in Personal Injury Cases
A trial attorney can play a significant role in the outcome of your case should you ever file a personal injury claim or lawsuit. […]
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Fatal Crash in Northeast Philadelphia Claims Passenger’s Life
A 26-year-old passenger died in the early morning hours of December 11 when a BMW crashed into a parked van in Philadelphia’s Mayfair neighborhood, police reported.
The incident occurred at 1:30 a.m. on the 6600 block of Frankford Avenue. According to news reports, the BMW’s driver lost control of the vehicle and struck a parked van, forcing it onto the sidewalk. The passenger was ejected from the BMW and pronounced dead at the scene.
The driver sustained injuries and is receiving medical treatment. Philadelphia police say excessive speed appears to be a factor in the crash.
The investigation remains ongoing.
The Causes of Car Accidents in Philadelphia
Unfortunately, auto accidents occur regularly in Philadelphia. The Pennsylvania Department of Transportation’s latest data shows approximately 8,549 car crashes in the city in 2023. These statistics reflect various contributing factors, […]
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Pedestrian Struck on Interstate 95 in South Philadelphia
A pedestrian was struck and killed while walking along Interstate 95 in South Philadelphia on December 10. According to news reports, the pedestrian was walking on the highway for unknown reasons around 11 pm when he was hit by a vehicle. The pedestrian was pronounced dead at the scene.
I-95 southbound was closed for several hours between I-676 east and Market Street exits.
Our thoughts are with the victim’s family.
Pedestrian Accidents Increase During the Nighttime
According to recent data from the Federal Highway Administration, 76 percent of pedestrian fatalities occur at night, despite lower pedestrian activity during these hours. Some of the common reasons why nighttime pedestrian accidents are so dangerous include:
- Limited Visibility: Judging distances and speeds in low-light conditions can be difficult. Shadows and the glare from oncoming headlines can obscure the pedestrian from the driver. […]
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Disposal Worker Injured by Pickup Truck in Lancaster County Crash
A disposal worker was injured in Lancaster County on the morning of December 9 after being hit by a pickup truck. According to news reports, the incident happened around 5:30 a.m. along South State Street in West Earl Township. The worker had just dismounted from the trash disposal truck when he was struck by the truck.
The worker sustained multiple injuries and was transported to the hospital, where he is in stable condition. Police say the crash is still under investigation.
Workers’ Compensation and Car Accidents
Getting into a car accident while on the job can be a complex situation as it involves both personal injury and workers’ compensation elements. Whether you’re a delivery driver, traveling salesperson, or simply running a work errand, understanding your rights and the steps to take after a work-related car accident is important for protecting your health and financial well-being. […]
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What Does a Wrongful Death Lawyer Do?
When faced with the tragic loss of a loved one due to someone else’s negligence or wrongful actions, understanding how a wrongful death lawyer can help becomes essential. These legal professionals specialize in wrongful death claims, guiding families through the legal process while advocating for their rights.
A wrongful death attorney helps families file their claims and build strong cases. They work diligently to gather evidence and establish who was at fault. They also fight to secure fair compensation for the family’s devastating losses. The process involves a thorough investigation of the death. They often bring in expert witnesses to strengthen the case. Throughout the process, they handle all negotiations with insurance companies.
Each element plays a vital role in building a compelling case to, ultimately, hold the responsible parties accountable. With a focus on both legal expertise and compassionate support, a wrongful death lawyer is dedicated to helping families find justice during one of the most challenging times in their lives. […]
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