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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Reading Premises Liability Lawyer
A Reading premises liability lawyer is your dedicated advocate when navigating the complex legal challenges arising from accidents on someone else’s property. Whether you’ve suffered a slip and fall in a local shopping center, been injured at a neighbor’s home, or encountered unsafe conditions in a public space, a skilled premises liability lawyer in Reading can assess your case, gather essential evidence, and build a compelling argument on your behalf. They understand the nuances of property owner responsibilities. They can effectively demonstrate how a breach of duty led to your injuries while dealing with insurance companies and opposing counsel to protect your rights and secure a fair settlement or verdict.
With more than six decades of experience and a nationwide reputation for excellence, Munley Law will fight to ensure you receive the justice and compensation you deserve. Contact Munley Law today for a free initial consultation with an injury attorney to discuss your case and learn how we can help you. […]
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Can I Still Pursue Compensation If I Was Partially At-Fault for My Injuries?
The insurance system can be overwhelming after a car accident, especially when you are healing from injuries. As a no-fault state, Pennsylvania insurance policies generally make it a little easier to get your medical bills covered quickly regardless of who may have been at fault.
However, seeking compensation from another driver for injuries and damages can be complicated, depending on your insurance policy and the percentage of negligence you are responsible for. Partnering with an experienced car accident attorney will help you manage your claim and recover the most compensation available for you.
When Can I Seek Compensation from Another Driver?
When you can seek compensation from another driver depends on what kind of compensation you are seeking. In general, Pennsylvania’s no-fault system means that the average insurance policy does not allow you to seek compensation for medical bills or personal injuries sustained in an accident. […]
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What Is the Average Time for a Car Accident Settlement?
How Long Does a Car Accident Settlement Take?
After a car crash, you want to put it behind you, including the settlement. You may be asking “What is the average time for a car accident settlement?” However, every car accident is different, which is why there is no average time for a car accident settlement. Especially when you’re waiting for an insurance company to pay up.
The timeline for an auto accident settlement process depends on the facts of the case, the insurance companies included, and the severity of your injuries.
Typically, the settlement process can take weeks to months, and in some severe cases, years. Don’t go it alone. A car accident attorney can help you through the process.
Remember, a settlement and a lawsuit are two different things. A fair settlement is reached before a court case or even during one. […]
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West Chester Personal Injury Lawyer
If you’ve been hurt in a car accident, medical malpractice, workplace injury, or other traumatic event due to someone
else’s negligence, you are entitled to compensation for your losses. The West Chester personal injury lawyers of Munley Law have represented injury victims for over 60 years, striving for the best results for our clients.
We take on the insurance company when settlement negotiations are not going your way, and we fight diligently in court should your case go to trial.
Call the West Chester personal injury law firm of Munley Law today for a free consultation with no obligation.
Why You Need a Personal Injury Attorney in West Chester
Contact a West Chester personal injury attorney for the best legal advice if you’ve been hurt in the Philadelphia Metropolitan area. By working with a local law office, you can rest easy knowing they have extensive experience with local law enforcement and personal injury law. […]
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What Is the Most Common Type of Accident?
The unfortunate reality is many drivers will find themselves exchanging insurance information with another driver after a car accident at some point in their lifetime.
While the specifics of each car accident are unique, there are a handful of common types accidents, many of which can cause injuries to passengers and those behind the wheel. Most common type includes head-on collisions, side impact collisions, sideswipe crashes, and more. Most common types occur because drivers are going over the speed limit, aren’t paying attention, or generally aren’t following the rules of the road.
According to the Association for Safe International Road Travel, more than 38,000 die in a car accident each year in the US alone. Thankfully, most car accidents are not nearly so tragic. In 2016, there were more than 6 million police-reported car accidents in the country, […]
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