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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How Much Is My Pittsburgh Spinal Cord Lawsuit Worth?
Navigating a spinal cord injury can be a complex and life-altering journey. If you find yourself considering a lawsuit due to such an injury, understanding the potential value of your case becomes critical. This article will provide a comprehensive guide, helping you grasp the key factors that impact the financial worth of your claim. By learning about legal processes, defense strategies, and the role of expert testimony, you’ll gain a clearer picture of your situation.
Remember, each case is unique, so it’s always best to speak with a Pittsburgh spinal cord injury lawyer to learn all your legal options.
How Does a Personal Injury Claim Work?
Embarking on a personal injury lawsuit, such as one related to a spinal injury, can seem daunting. Essentially, these legal actions allow an injured person to seek compensation, also known as damages, from the party legally responsible for their injuries. […]
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Bicycle Accident Lawyer
If you’ve been injured in a bicycle accident, a dedicated bicycle accident attorney can help you through the legal process and seek the compensation you may be entitled to. Whether dealing with negligent drivers, unsafe road conditions, or defective equipment, bike accident lawyers understand the unique challenges cyclists face and will fight to protect your rights.
The expert bicycle accident lawyers at Munley Law have decades of experience representing injured cyclists and can provide the skilled representation you need to protect your right to fair compensation—contact them today for a free consultation.
Why You Need a Bicycle Accident Lawyer
A bike accident attorney will help an injured bicyclist receive fair compensation for injuries and damages. They understand the nuance of traffic laws, can negotiate with insurance companies on your behalf, and represent you in court if needed. The expertise of bicycle injury lawyers helps you focus on recovery while they handle the legal aspects, […]
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How to Obtain a Police Report After a Car Accident
Obtaining a police report after an accident is essential in documenting the incident and protecting your rights. Knowing how to access this information can streamline the aftermath of a stressful event, whether for insurance purposes or legal reasons.
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Hit and Run Car Accidents
Nobody ever expects to be the victim of a hit-and-run car accident. One minute you’re driving along, and the next, someone carelessly crashes into your vehicle and flees the scene. In the aftermath, you’re left dealing with injuries, vehicle damage, and a thousand questions. That’s when you need a hit and run accident lawyer in your corner. The experienced car accident lawyers at Munley Law understand the chaos and confusion you’re facing. They know how to investigate what happened, protect your rights, and fight for the compensation you deserve. With expertise in accident claims and hit-and-run car accidents, they become your advocate and guide through this difficult situation.
Best Hit and Run Accident Attorneys
When you’ve been the victim of a hit-and-run accident, you need personal injury law attorneys who really go the extra mile. The best hit-and-run accident attorneys are relentless investigators, […]
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Where Do Most Pedestrian Accidents Occur in Philadelphia, PA?
Pedestrian and vehicle accidents can happen for many reasons. Roads in Philadelphia County are old, and some, such as North Broad Street, can encourage drivers to ignore posted speed limit signs and exceed safe driving speeds. Some streets have curves and bends, making it difficult to see pedestrians in an intersection if a driver is distracted.
A pedestrian accident can happen in any town or city. However, in a city of neighborhoods full of shops, bars, and restaurants like Philly, pedestrians and vehicles can often be at odds. A pedestrian accident can leave victims with serious injuries, even fatalities, and in Philadelphia, these types of accidents are on the rise.
According to a study by the Bicycle Coalition of Greater Philadelphia, the city saw 143 fatal pedestrian accidents in 2020, 29 of which were hit-and-run incidents.
Pedestrian and vehicle accidents can happen for many reasons. […]
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