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 Common Are Motorcycle Accidents in Pennsylvania?
In Pennsylvania, motorcycle accidents are unfortunately quite common. As a motorcycle rider, you should be aware that motorcycle crashes often result in severe consequences. In Pennsylvania, motorcycle accidents make up less than 3 percent of crashes in the Commonwealth but over 17 percent of total motorcycle fatalities. Many of these accidents lead to fatal injuries or catastrophic injuries, which can have long-lasting effects on your life and well-being. One major cause of these accidents is the blind spots of other vehicles, where drivers may not see you until it’s too late.
If you were involved in a motorcycle accident anywhere in Pennsylvania, Munley Law is here to help. Contact our motorcycle accident lawyer today to schedule a free consultation.
The Most Common Type of Motorcycle Accident: Left Hand Turns
Left turns by motorcyclists are the most common type of motorcycle accident, […]
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Birth Injury Lawyers
A child’s birth should be a cause for celebration. But when negligent medical professionals cause your child to experience fetal distress, oxygen deprivation, or physical trauma, you have a right to take legal action.
The long-term costs for medical care for your child, along with the emotional trauma you’ve had to endure, can be a burden too significant to handle on your own. At Munley Law, we fight for the injured children and their families who suffered from a birth injury. Let our birth injury attorneys help you get the financial compensation you need for your baby.
What is a Birth Injury?
According to the National Library of Medicine, a birth injury is any damage to the newborn’s body due to an adverse event that occurred at birth. Birth injuries can occur at any point in the birthing process or during pregnancy. […]
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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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