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Expert Analysis

NY Joins Texas In The Broad Use Of Appraisal

Law360, New York (August 28, 2014, 1:06 PM EDT) -- Virtually all property insurance policies include an appraisal provision to resolve disputes over the "amount of loss" for a covered claim. Historically, the phrase "amount of loss" was interpreted to limit appraisal to those situations where the sole dispute was the cost to repair the agreed scope of covered damage. For nearly a century, this limitation on the use of appraisal was clear pursuant to Texas case law and New York statutory law....

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