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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Fatal Car Accident Lawyer
Losing a loved one due to someone else’s negligence is incredibly traumatic, and choosing the right accident lawyer is critical. At Munley Law Personal Injury Attorneys, we understand fatal car accident cases’ complex and sensitive nature.
Our team of experienced lawyers is committed to providing support, empathy, and compassion to grieving clients and their families. With over 60 years of experience, we have helped deliver legal aid to numerous clients and helped to identify and collect the compensation they deserve.
Our compassionate car accident lawyers will review your case for free and guide you on your next steps. We work on a contingency fee basis, so we do not get paid unless we win your case. Contact us today through our online form or phone for your free consultation.
What’s the Difference Between a Personal Injury and Wrongful Death Lawsuit?
If you have motor vehicle accident injuries or damages due to someone else’s negligence or wrongdoing, […]
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The Chances of Getting Into a Motorcycle Crash in Philadelphia
Riding in Philadelphia can be especially risky for motorcyclists. The city has notoriously dangerous roads like the Schuylkill Expressway, the Blue Route, Broad Street, and Roosevelt Boulevard. With one of the highest traffic fatality rates for its size, Philadelphia sees a significant number of motorcycle crash fatalities. Philadelphia motorcyclists face greater risks of injury and wrongful death due to congested roads, poor road conditions, aggressive traffic dynamics, and negligent driving.
Our motorcycle accident lawyers at Munley Law Personal Injury Attorneys have over 65 years of experience. We understand Pennsylvania traffic laws and how insurance companies work. Our Philadelphia motorcycle accident attorneys have achieved significant settlements and awards for our clients, earning national recognition. Contact us today for a free consultation, and let us fight for the compensation you deserve.
Pennsylvania Motorcycle Accident Statistics
According to the Pennsylvania Department of Transportation (PennDOT, […]
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Munley Law Lawyers Named to 2025 Best Lawyers in America® List
Munley Law is pleased to announce that all ten personal injury lawyers have been included in the 2025 Edition of The Best Lawyers in America®.
The following lawyers were named 2025 Best Lawyers in America® in the following practice areas:
- Marion Munley – Medical Malpractice Law – Plaintiffs, Personal Injury Litigation – Plaintiffs, and Product Liability Litigation – Plaintiffs
- Daniel W. Munley – Medical Malpractice Law – Plaintiffs, Personal Injury Litigation – Plaintiffs, and Product Liability Litigation – Plaintiffs
- James Christopher Munley – Medical Malpractice Law – Plaintiffs, Personal Injury Litigation – Plaintiffs, Product Liability Litigation – Plaintiffs, and Workers’ Compensation Law – Claimants
- Caroline Munley – Medical Malpractice Law – Plaintiffs, Personal Injury Litigation – Plaintiffs, Product Liability Litigation – Plaintiffs, and Workers’ Compensation Law – Claimants
- Robert W. Munley III – Personal Injury Litigation – […]
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Pittsburgh Pedestrian Accident Lawyer
Despite advances in safety technology and awareness, pedestrian accidents continue to occur at alarming rates. These accidents are avoidable. When a pedestrian is hit by a car in downtown Pittsburgh or anywhere in the city, the consequences can be life-threatening. The faster the vehicle is moving, the more severe the injuries will be. If you were injured in a pedestrian accident, you will likely be facing significant medical costs, missed time from work, and an uncertain financial future.
As the victim of someone else’s negligent behavior, you shouldn’t have to face these costs on your own. A Pittsburgh personal injury lawyer from Munley Law can help you obtain the compensation you need to recover from your injuries and be made whole again.
If you or someone you love was struck by a vehicle in Pittsburgh, the pedestrian accident lawyers at Munley Law Personal Injury Attorneys are available to speak with you. […]
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How Much Compensation Can I Get for a Philadelphia Pedestrian Accident?
If you or a loved one have an injury from a Philadelphia pedestrian accident, medical care and expenses can
accumulate quickly. Injured pedestrians have no physical protection when struck by a moving vehicle, and severe injuries are usually the unfortunate outcome. In the most devastating scenarios, a wrongful death leaves families grappling with expenses while mourning their loss.
Insurance companies will offer minimal settlements early to motivate quick turnarounds and to avoid higher payouts. Do not agree to any settlement without consulting an accident attorney; any monies accepted make future negotiations off the table. Contact an experienced Philadelphia pedestrian accident lawyer at Munley Law for your free case evaluation to help assess the value of your claim.
Damages that May Be Recovered in a Pedestrian Accident
According to the National Institutes of Health (NIH), depending on the details and nature of your injuries, […]
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