Services
WE PROVIDE ALTERNATIVE DISPUTE RESOLUTION SERVICES
APPRAISAL
What is Insurance Appraisal?
It is a form of Alternative Dispute Resolution (ADR), which can resolve a disagreement in insurance claims when the Carrier and Policyholder do not agree on the amount of loss. It is typically a more economical and expedient alternative to a lawsuit. Appraisal does not address coverage issues but can include or exclude items based on causation depending on the state. Below is the most common language of a Policy Appraisal Clause.
“If you and we fail to agree on the actual cash value, amount of loss, or cost of repair or replacement, either can make a written demand for appraisal. Each will then select a competent, independent, appraiser and notify the other of the appraiser’s identity within 20 days of receipt of the written demand. The two appraisers will choose an umpire. If they cannot agree upon an umpire within 15 days, you or we may request that the choice be made by a judge of a district court of a judicial district where the loss occurred. The two appraisers will then set the amount of loss, stating separately the actual cash value and loss to each item.”
UMPIRE SERVICES
Who is an Umpire and what do they do?
Umpires typically are individuals that are very experienced and have detailed knowledge of the type of damage that is in dispute. The Umpire can be someone who has been in the Insurance Industry for several years, a contractor with several years of related experience or even an Attorney or Retired Judge. But just as the Appraiser they also must be competent, disinterested, and unbiased to this claim.
The Umpire is utilized when the two Appraisers have come to an Impasse.
Estimating Services
With our extensive background in Architecture, Construction, Restoration and the Insurance Industry we can complete very detailed estimates using an industry standard estimating program. Contact us if you have a need for this type of service.