Appraisal Process Is Ripe For Revision

Law360, New York (June 13, 2013, 1:00 PM EDT) -- Appraisal has long been utilized as a tool for resolution of disputes over the amount of loss at issue in property insurance claims. Appraisal was once an amicable, prompt and independent process to resolve claims when coverage was undisputed, and the only issue was the fair price, valuation or worth of damaged property — when the insurance company and policyholder were unable to agree on the “amount of loss.”

In recent years, however, appraisal has devolved from an efficient way for the insured and insurer to...
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