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.
More information about Insurance
Philadelphia Truck Accident Lawyer
Dealing with the aftermath of an accident with a truck in Philadelphia can be frustrating, stressful, and devastating. Faced with medical expenses, pain and suffering, and lost wages, the road to recovery may seem long and hard for both you and your family. You need an experienced Philadelphia truck accident lawyer to help you receive the maximum amount of accident compensation for your losses so you and your family can start the healing process.
Trucking accidents are usually more challenging to navigate on your own. Multiple parties may be responsible for your truck accident injuries, and the insurance company will try to prevent you from receiving a fair settlement offer. Our lawyers at Munley Law are here to help if you are involved in a commercial truck accident.
What a Philadelphia Truck Accident Lawyers Can Do For You
A truck accident lawyer in Philadelphia is a personal injury attorney who specializes in helping injury victims following truck collisions with a large truck, […]
Read MoreMore information about Insurance
Erie Truck Accident Lawyer
Commercial truck accidents can cause unimaginable damage due to the average size and weight of commercial trucks—often many, many times larger than other vehicles. Too many Erie, Pennsylvania, drivers are harmed by negligent truckers and trucking companies. If you or a loved one have sustained injuries in a trucking accident, don’t hesitate to seek legal representation from an Erie truck accident lawyer at Munley Law. Working with our legal team is your best path forward as you seek justice and fair compensation. Contact us today to schedule a free consultation and learn how we can protect your interests.
What Does an Erie Truck Accident Lawyer Do?
If you have sustained serious injuries in a truck accident, your head might be swimming with questions: how will I pay for my medical bills? Where does the insurance company come in? Do I need a lawyer? […]
Read MoreMore information about Insurance
Reading Pedestrian Accident Lawyer
If you or a loved one have fallen victim to a pedestrian accident, you need an experienced, knowledgeable Reading pedestrian accident lawyer with a proven success record. Pedestrian injuries can be devastating, taking a toll on victims and their families in regards to physical damages, therapy, change of routine/physical limits, loss of work, medical bills, and also in regards to the toll on victims’ emotional and mental well-being. At Munley Law, our Reading accident lawyers bring decades of experience handling pedestrian accident cases just like yours. We offer a free consultation, and if we don’t secure results, you owe us nothing. Our Reading pedestrian accident lawyers here to get the job done and ensure you receive the compensation you deserve.
If you were involved in a pedestrian accident in Reading, PA, don’t wait. Contact a Reading pedestrian accident attorney at Munley Law today to schedule a free consultation. […]
Read MoreMore information about Insurance
Rollover Truck Accidents
Rollover truck accidents, where a commercial truck flips onto its roof, are some of the most dangerous types of accidents on the road. If you’ve been injured in a rollover accident or tragically lost a loved one due to another driver’s negligence, the aftermath can be overwhelming. We understand the emotional and financial strain a rollover accident can cause. That’s why we offer free consultations to discuss your case with an experienced truck accident attorney to review the details of your claim, advise you on your legal options, and guide you through every step of the process.
At Munley Law, our experienced trucking accident lawyers understand the unique challenges associated with rollover accidents. We’ve been fighting for the rights of injured victims since 1959, and our dedication has resulted in recovering maximum compensation for thousands of clients. Get the support you deserve during this difficult time. […]
Read MoreMore information about Insurance
Rollover Car Accidents
Contact a rollover car accident lawyer at Munley Law if you or a loved one has been injured in a rollover accident. Rollover crashes, where a car flips onto its roof, are some of the most dangerous types of accidents on the road. If you’ve been injured in a rollover accident or tragically lost a loved one due to another driver’s negligence, the aftermath can be overwhelming. We understand the emotional and financial strain a rollover accident can cause. That’s why we offer free consultations to discuss your case with an experienced auto accident attorney to review the details of your claim, advise you on your legal options, and guide you through every step of the process.
At Munley Law, our experienced car accident lawyers understand the unique challenges associated with rollover accidents. We’ve been fighting for the rights of injured victims since 1959, and our dedication has resulted in recovering maximum compensation for thousands of clients. […]
Read More
