The Devolution Of Appraisal In Insurance Disputes

Law360, New York (October 15, 2012, 3:29 PM EDT) -- Almost all property insurance policies contain a provision specifying “appraisal” as a means of resolving disputes over the amount of loss associated with a covered claim. Historically, appraisal provided a method for an insured and insurer to efficiently resolve a dispute over the amount of a covered loss when both parties agreed about the existence of coverage. It was generally a quick, inexpensive and amicable process.

Unfortunately, that’s no longer the case. The appraisal process has devolved into a nonjudicial dispute resolution process rife with abuse...
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