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 Workers’ Compensation FAQs
Frequently Asked Questions About Workers’ Comp in Scranton, PA
Scranton has always been an industrious city. A hub of manufacturing and industry since 1840, modern-day Scranton is the cultural, financial, and geographic center of the Lackawanna River Valley. Unparalleled access to a national transportation network enhances Scranton’s proximity to Northeast Corridor markets.
Scranton’s businesses have quick access to a busy international airport and accessibility to five major US highways. Scranton is just a short drive to major market hubs such as Philadelphia and Manhattan. Include Scranton’s rail access to Norfolk Southern and the Canadian Pacific Railway, and we can see why Scranton is the perfect home for busy manufacturing, retail, and warehouse operations.
Scranton’s historical beauty, location, and architecture and its proximity to the Poconos also mean that Scranton draws its share of tourism traffic.
According to the Department of Labor and Industry, […]
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How Serious Does a Collision Have to Be for Airbags to Deploy
Airbags are designed to protect you in severe crashes, but they don’t go off in every accident. In modern vehicles, airbag sensors measure the impact and determine whether airbags should be deployed. This decision is influenced by factors such as the speed you’re traveling, the type of crash, and where your vehicle is hit. Typically, airbags will deploy in collisions at speeds over 10 miles per hour. For example, if you hit a stationary object or are involved in a rear-end collision, the airbags may go off. However, seat belts alone may be enough to keep you safe in these crashes, and the airbags might not deploy.
Vehicle Safety System and Airbags
Airbags are just one part of your vehicle’s safety system. Seat belts play a critical role in keeping you secure during a crash. They hold you in place, […]
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State College Personal Injury Lawyers
If you or a loved one has been injured in State College because of an accident, a personal injury lawyer can help you make sense of your options. These legal experts specialize in helping people harmed by others’ negligence or misconduct.
Whether you were in a car accident, had a slip and fall, or were injured in another way, a State College personal injury attorney can guide you through the legal process. They’ll work to get you the compensation and support you deserve, allowing you to take the time to focus on your recovery. 
Personal Injury in State College
In State College, personal injuries can arise from various accidents. Car accidents, slip and falls, medical malpractice, and workplace injuries are common sources of insurance claims and lawsuits. Each case requires understanding the specific laws and regulations of State College. […]
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What is a Workplace Injury in Harrisburg, PA?
Harrisburg, the capital city of Pennsylvania, has a diverse employment landscape, from its bustling transportation hubs and manufacturing plants to administrative roles in government sectors. Despite safety measures, workplace injuries are not uncommon. A work related injury is defined as any harm or illness sustained due to job-related activities.
Such incidents can range from minor cuts or bruises to more severe traumas. Harrisburg residents, when facing the repercussions of such misfortunes, often find themselves in a complex works compensation claim. This inevitable adds extreme amounts of stress to an already-stressful situation.
In these trying times, it is essential for injured workers to understand their legal rights. The Harrisburg workers compensation lawyers at Munley Law have extensive knowledge of Pennsylvania law. Our attorneys will work to ensure that the injured workers’ rights are protected and they secure fair compensation for their work related injuries. […]
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How Does PIP Insurance Work In Pennsylvania?
Personal Injury Protection (PIP) insurance in Pennsylvania is intended to help cover medical expenses and other
related costs if you’re injured in a car accident, regardless of who caused the crash. It’s like a safety net that guarantees you get immediate help paying for things like hospital bills, doctor visits, and even lost wages due to your injury. PIP immediately kicks in after an accident, providing financial support while you focus on recovering from your injuries.
What Is Personal Injury Protection (PIP)?
In Pennsylvania, PIP and “First-party benefits” (FPB) are often used interchangeably to describe the auto insurance coverage motorists must carry. This type of insurance is essential because it pays for financial losses regardless of who caused the crash.
PIP covers medical costs in the event of an accident. In some cases, it can also help with lost wages or funeral expense coverage if the accident results in a death. […]
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