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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Philadelphia Pedestrian Accident Lawyer
Struck By a Car, Truck, or Bus in Philadelphia? Our Pedestrian Accident Lawyers Can Help
Unfortunately, even the most careful pedestrians can encounter a careless or reckless driver, leading to a pedestrian accident injury that changes the course of their lives. If you or a loved one has been involved in a pedestrian accident anywhere in Philadelphia, you may have a personal injury claim. You need PA’s top pedestrian accident lawyers on your side. Call us today for a free accident consultation with your pedestrian accident lawyer.
Pedestrian crashes can lead to serious accident injuries, which lead to huge medical expenses. Injuries from pedestrian accidents can cause you to have months of lost wages, doctor visits, and physical therapy in the future. You may be rightfully scared and confused about what to do about ever-increasing medical expenses, […]
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Philadelphia Rideshare Accident Lawyer
Were You Injured in a Philadelphia Rideshare Accident and Now Need an Uber Accident Lawyer?
If you or someone you love was injured in a rideshare accident, it’s important to have an experienced rideshare lawyer on your side to fight for the compensation you deserve. Rideshare accident claims can be difficult to navigate on your own and you may not be sure who should be paying your medical bills. That’s why it’s important to speak with an experienced Philadelphia rideshare accident attorney right after your accident.
How Dangerous is a Rideshare?
While these apps help us get from point A to point B more efficiently, they can also contribute to a growing safety issue. When you choose to take an Uber or Lyft, it’s often for either convenience or safety if you plan on drinking. But you are putting trust in that driver, […]
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Bethlehem Workers Compensation and Third Party Claims
If you have been injured during an accident or incident at work in Bethlehem, you might be understandably anxious, scared, and confused by all of the requirements and paperwork required to start a workers’ compensation claim. If this has happened to you, you might consider filing a workers’ compensation claim and suing a third party for financial compensation.
If you or a loved one has been hurt, become sick, or has suffered a fatality due to working conditions, a Bethlehem workers’ compensation lawyer can help.
What is Workers’ Compensation?
Pennsylvania workers’ compensation benefits are designed to provide financial and medical support to employees who suffer job-related injuries or occupational illnesses. By law, almost every employer in Bethlehem, PA, must carry workers’ compensation insurance to cover their employees in case of a workplace injury or illness. […]
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Erie Personal Injury Lawyers
If someone else’s negligence has caused you or a loved one to suffer harm or serious injuries, know that you have options for financial recovery. The Erie personal injury lawyers of Munley Law have over 60 years of experience fighting for the rights of Pennsylvania’s injured and recovering compensation. With a track record of securing millions of dollars in settlements and verdicts, we take on the liable party and insurance company to ensure you get the compensation you need for the injuries and damages you incurred.
For a no-obligation, free consultation, contact a personal injury lawyer from Munley Law today.
Why Choose Our Erie Personal Injury Attorneys?
Not all personal injury law firms are made equal. However, the award-winning personal injury lawyers of Munley Law have the experience, dedication, and compassion you seek in legal representation.
Experienced Personal Injury Lawyers
Experience is the most critical factor in selecting a personal injury lawyer for your case. […]
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Erie Uber Accident Lawyer
Residents and visitors enjoy the waterfront activities and attractions that Erie, PA, offers, and many frequently utilize rideshare services like Uber. Unfortunately, that increase in use has also led to more Uber accidents. If you or a loved one were injured in a rideshare car accident, an Erie Uber accident lawyer from Munley Law can guide you through the legal process.
Why Do You Need an Uber Accident Lawyer in Erie, PA?
You never have to hire an attorney for a car accident; however, when it comes to wrecks with rideshare vehicles, it can be beneficial to work with an attorney.
The most complicated part of an Uber accident is knowing what insurance coverage applies to you. Further, there is the question of who was involved during the crash and why it occurred. Of course, there are also general car accident concerns such as injury severity, […]
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