An Impartial Appraisal Of Insurance Policy Requirements
April 12, 2012, 2:21 PM EDT
Law360, New York (April 12, 2012, 2:21 PM EDT) -- The U.S. District Court of the Southern District of Texas recently weighed in on the “impartiality” requirement for first-party property policy appraisers. The insured sought to vacate an award based on past business relationships between the employers of a party appraiser and the umpire. The court held that such a relationship, without more, does not constitute bias.
The decision also examined whether an appraiser must necessarily retain outside experts to support its determination of loss, finding that it need not do so. Finally, the case offered...