Summer L. Frederick | Zelle LLP | November 22, 2016 Appraisal clauses have appeared in most first-party property policies for well over 100 years. However, it is only in the last 15 years or so that appraisal has received such enormous attention in Texas. Before 2002, appraisal was almost a nonissue. To illustrate the lack… Continue reading How Late is Too Late to Amend Insurance Appraisals?
Tag: insurance appraisal
Impossibility of Performance Does Not Excuse an Insurer from Appraisal
Christina Phillips | Property Insurance Coverage Law Blog | July 24, 2016 The appraisal process is to provide a plain, speedy, inexpensive and just determination to an insurance dispute. However, as many first party property lawyers and homeowners have experienced, appraisal is not necessarily speedy, inexpensive or just. In fact, many times the insurer will… Continue reading Impossibility of Performance Does Not Excuse an Insurer from Appraisal
Does Actual Cost Value Equal Fair Market Value When it Comes to Property Damage?
Denise Sze | Property Insurance Coverage Law Blog | April 27, 2016 When reading insurance policies it can be confusing to a policyholder regarding the differences in valuation of real property and personal property when terms like “fair market value”, “actual cost value”, and “replacement cost value” are referenced without explanation. Insurance companies use these… Continue reading Does Actual Cost Value Equal Fair Market Value When it Comes to Property Damage?
In Praise of Appraisal
Invoking alternatives to litigation in disputes over property catastrophe losses. Litigating catastrophe claims can be costly. Recently, the Committee of Magistrate Judges appointed in the In Re Hurricane Sandy litigation in the Eastern District of New York commented that they were alarmed by one defense attorney’s prediction that the defense of roughly 1,200 flood cases… Continue reading In Praise of Appraisal
What are Insurance Appraisals?
Advise & Consult, Inc. | October 19, 2015 What are they? An insurance appraisal simply put is the current estimate of reproduction costs of the physical assets of a property that are insurable. When you are looking to get an insurance appraisal done, you are asking the insurance company or experts from the field to… Continue reading What are Insurance Appraisals?