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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Scranton Truck Accident Lawyer
For 65 years, the Scranton truck accident lawyers at Munley Law have been helping truck accident victims in Scranton, PA. Our team includes three board-certified truck accident attorneys who understand the complexities of these cases and the challenges you face.
Don’t navigate this difficult time alone. Our knowledgeable lawyers will guide you through the legal process, ensuring your rights are protected and fighting for the compensation you deserve. Time is critical in accident cases. Contact Munley Law today for a free consultation. Let us put our expertise to work for you.
Hiring a Truck Accident Attorney in Scranton, PA
A truck accident lawyer focuses on helping injury victims obtain compensation from various parties responsible for the victim’s losses, including the truck driver, trucking company, and third-party brokers. It is important to hire a truck accident attorney promptly after the trucking accident to protect your rights, […]
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Macungie Personal Injury Lawyer
If you’ve been injured in an accident in Macungie, PA, you understand the emotional, physical, and financial challenges that can follow. At Munley Law, we know the toll that personal injuries can take on victims and their families. Our experienced Macungie personal injury attorneys are committed to helping the injured get the compensation they deserve.
Our PA law firm has over six decades of experience handling complex personal injury cases. From construction accidents to birth injuries, we know what it takes to win a personal injury lawsuit. If you’ve been injured due to someone else’s negligence, contact Munley Law for a free consultation. We’ll review your case and guide you through the legal process to ensure that you recover the maximum compensation possible for your injuries.
Personal Injury Cases Our Lawyers Handle in Macungie, PA
At Munley Law, […]
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Emmaus Personal Injury Lawyer
At Munley Law, we know how life can change instantly due to a personal injury. Whether you’ve been in a car accident, hurt in a workplace incident, or suffered because of medical negligence, these injuries can take a serious toll on your health and finances due to lost work and medical expenses, as well as your peace of mind. Our experienced personal injury lawyers in Emmaus, PA, are dedicated to helping victims recover the compensation they deserve. From motor vehicle accidents, motorcycle accidents, and truck collisions to slip and falls and wrongful death claims, we have the skills and resources to handle a wide variety of cases. We’re here to fight for your rights and make sure that justice is served.
Contact Munley Law’s Allentown law offices today for a free case evaluation. Let us guide you through every step of your claim. […]
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Whitehall Township Personal Injury Lawyer
At Munley Law, we understand how devastating a personal injury can be, whether it’s from a car accident, bus accident, or work-
related injury. In Whitehall Township accidents can happen anywhere—on the road, at work, or even during daily activities. Personal injuries, whether they are caused by motor vehicle crashes, construction site accidents, or even long-term exposure to harmful substances, can disrupt your life physically, emotionally, and financially.
If you or a loved one has been injured due to someone else’s negligence, you deserve to know your rights. Our experienced law firm is here to help guide you through the legal process, fight for the compensation you deserve, and hold the responsible parties accountable. We handle all personal injury claims, including motorcycle accidents, defective products/product liability, premises liability, slip and falls, workplace illnesses, birth injuries, and medical malpractice. […]
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Lancaster Car Accident Lawyer
When facing the aftermath of a car crash, having an experienced Lancaster car accident lawyer by your side is your best line of defense and advocacy. Choosing Munley Law means combining seasoned expertise, recognized excellence, and genuine client care for Lancaster residents. With our team in your corner, navigating the legal intricacies of a motor vehicle accident claim becomes a journey you’re never alone in.
If you or a loved one were involved in a car crash, call the Lancaster car accident attorneys of Munley Law for a no-obligation, free consultation.
Common Causes of Car Accidents in Lancaster, PA
Car accidents in Lancaster are often influenced by unique local factors, ranging from challenges posed by historic narrow roads to increased traffic during peak tourist seasons. Data reveals that distracted driving, tight intersections, and adverse weather conditions have greatly impacted the area’s car accident rates. […]
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