What is insurance law?

Insurance law is the set of legal principles governing the relationship between insurance companies and the people they insure. In Pennsylvania, insurance law is regulated by the Pennsylvania Insurance Department. Insurance law sets out the obligations of insurance companies and their policyholders. It also outlines how claims should be handled and how dispute resolutions should occur. Insurance law generally covers both personal and professional insurance policies. Personal policies may include things like auto insurance, homeowners insurance, life insurance, and health insurance. Professional policies may cover liability insurance for a business, or professional malpractice or errors and omissions insurance for professionals like doctors, lawyers, and contractors. Insurance law can also provide guidance regarding when and how an insurance company can deny a claim. It can also provide qualifications for filing for protection under bankruptcy laws. Additionally, it sets expectations for when an insurance company must provide access to court or a hearing before dropping coverage. Insurance law is an important part of the legal system in Pennsylvania, as well as other states, as it sets the rules and regulations that guide how insurance companies and their policyholders interact. Understanding the different facets of insurance law will protect both insurers and policyholders from unfair practices.

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What is insurance law?

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