Jeff Zane | Property Insurance Coverage Law Blog | November 13, 2017 In theory, the appraisal process is intended to provide an efficient means of determining the cost to repair or replace damaged property. It is also intended to have a degree of finality – once the appraisal panel determines the amount of damages, the… Continue reading If You Believe Your Appraisal Award Is Wrong – You Might Be Right
Tag: insurance appraisal
Federal Arbitration Act Governs Property Insurance Appraisals
Richard Wolf | Claims Journal | July 27, 2017 In a decision filed July 14, 2017, the US District Court for the Central District of California invoked the Federal Arbitration Act (FAA) in refusing to vacate an insurance appraisal award determining the value of insured tools stolen from their owner. The decision, James Dickey, Inc. v. Alterra Insurance… Continue reading Federal Arbitration Act Governs Property Insurance Appraisals
Appraisers Agreeing Not To Include Issues of Loss May Render Policyholders with No Later Recovery
Chip Merlin | Property Insurance Coverage Law Blog | July 23, 2017 Appraisals can result in losing propositions for policyholders. I often teach that policyholders need to make certain that they do their best during appraisal and not expect a bad award to get overturned. Policyholders need very hardworking, honest, and knowledgeable persons selected as… Continue reading Appraisers Agreeing Not To Include Issues of Loss May Render Policyholders with No Later Recovery
Resolving Disputes Regarding Value of the Loss through the Appraisal Process
J. Robert Keena | Hellmuth & Johnson PLLC | June 13, 2017 With an increase in storm damage events throughout the Midwest, insurers are becoming increasingly frugal when adjusting storm damage losses. In the past, disputes regarding the value of the loss typically involved disagreements on pricing. Today more aggressive practice by insurers on even… Continue reading Resolving Disputes Regarding Value of the Loss through the Appraisal Process
Is a Dispute Over General Contractor Overhead and Profit Appropriate for Appraisal?
Edward Eshoo | Property Insurance Coverage Law Blog | February 22, 2017 In Windridge of Naperville Condominium Association v. Philadelphia Indemnity Insurance Company,1 a federal district court in Illinois recently addressed the issue whether appraisal is appropriate to resolve a dispute over the need for a general contractor to perform repairs following a covered loss.… Continue reading Is a Dispute Over General Contractor Overhead and Profit Appropriate for Appraisal?