Insurance

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 Bus Accident Lawyer

If you’ve been injured in an accident involving a SEPTA vehicle in the Philadelphia area, you may be entitled to compensation. The Southeastern Pennsylvania Transportation Authority (SEPTA) operates a vast network of buses, trains, trolleys, and subways serving Philadelphia and its surrounding counties. Accidents involving SEPTA vehicles can result in serious injuries, leading to significant medical expenses, lost wages, and other damages. Philadelphia Bus Accident Lawyer

Filing a personal injury claim against SEPTA involves specific legal requirements, including providing notice of your intent to sue within six months of the accident.

Additionally, you must adhere to other conditions to recover compensation, such as timely filing of your lawsuit and presenting a strong case backed by thorough evidence. This process can be complex and challenging, but the experienced Philadelphia bus accident lawyers at Munley Law Firm are here to help.

Whether you need assistance drafting a notice of intent to sue or collecting and presenting evidence, […]

Virginia Truck Accident Lawyers

If you or a loved one have been in a truck accident in Virginia, managing injuries and damages can be overwhelming. Truck accident injuries and damages can be overwhelming for you and your family. On top of that, managing medical care, lost wages, and unforeseen expenses with the most efficient practice is a lot to take on when emotions are high, and pain management can be genuine. A knowledgeable and experienced Virginia truck accident lawyer can help steer your case and help you receive the fair compensation you and your loved ones are entitled to during this vulnerable time. Contact a truck accident lawyer at Munley Law for your free consultation and case review today.

What does a truck accident lawyer in Virginia do?

A Virginia truck accident lawyer makes sure to encompass the circumstances of your accident with care, combing through all details. […]

Traumatic Brain Injury Lawyer

A traumatic brain injury (TBI) or head injury, occurs when an outside force hits the skull and causes brain damage or injury. An object may strike the head during a slip and fall, a motor vehicle accident, an assault, or a workplace accident.

Head injuries range in severity from mild to moderate to severe.

Most brain injury victims suffer a mild injury, but for those with moderate to severe symptoms, the results can be catastrophic, leading to long-term disability and even death. For these victims and their families, it is imperative to contact a traumatic brain injury lawyer.

For over 60 years, Munley Law has represented personal injury victims. Call the traumatic head injury lawyers of Munley Law today for a no-obligation, free consultation.

What is the Average Settlement For a Traumatic Brain Injury Case?

The average settlement for a brain injury case depends on several factors, […]

Uninsured Motorist Car Accidents

Have you been injured by an uninsured or underinsured driver? At Munley Law, we understand how frustrating and overwhelming this situation can be. Our experienced uninsured motorist accident lawyers specialize in helping victims navigate the complex world of uninsured motorist (UM) and underinsured motorist (UIM) claims nationwide.

Don’t let someone else’s lack of insurance leave you struggling with medical bills and lost wages. Contact our car accident lawyers today for a free consultation. We don’t get paid unless you win.

Understanding Uninsured and Underinsured Motorist Coverage

While you never have to hire a personal injury lawyer for an uninsured motorist claim, there are benefits to doing so.When another driver causes an accident but doesn’t have insurance—or doesn’t have enough insurance to cover your damages—your own uninsured/underinsured motorist coverage becomes essential. This coverage exists specifically to protect you in these situations, […]

Pittsburgh Lyft Accident Lawyer

For nearly a decade, Lyft has been a part of daily life for many Americans. It offers a way for people who can’t drive to get where they need to go, a means of getting home safely after a night of drinking, and much more. In 2022, it’s difficult to remember life before rideshare services such as Lyft, as these services have all but transformed the way we move through the world. But for all of its benefits, traveling with Lyft also poses certain dangers. Any time a vehicle enters the road, there is the possibility of a life changing accident, and the situation becomes far more complex when a powerful company such as Lyft is involved.

If you or a loved one has been in a Pittsburgh rideshare accident, you may be overwhelmed and unsure of how to proceed. How can you go up against a huge corporation in order to seek the justice you so deserve? […]