J. Ryan Fowler | Property Insurance Coverage Law Blog | May 8, 2018 I often hear from insureds that have been negotiating with their insurance company for a period of time when the insurer suddenly demands appraisal. The insureds do not want to go to appraisal and the first question is always, “Can the insurance… Continue reading When Is a Demand for Appraisal Too Late?
Tag: insurance appraisal
The Proper Standard for Evaluating “Actual Cash Value” Under New Jersey Law
Jennifer Van Voorhis | Property Insurance Coverage Law Blog | April 12, 2018 One of the most common questions we hear from our clients has to do with the differences between “actual cash value” and “replacement cost value.” Replacement cost value on its face seems relatively straight forward, but what is “Actual Cash Value” determined… Continue reading The Proper Standard for Evaluating “Actual Cash Value” Under New Jersey Law
“Like Kind and Quality” Is an Appraisable Issue
Christina Phillips | Property Insurance Coverage Law Blog | December 3, 2017 Following a loss, the issue of replacement with “like kind and quality” often arises whether it be with the replacement of personal property or building materials. The phrase “like kind and quality” is typically not defined in an insurance policy, so whether construction… Continue reading “Like Kind and Quality” Is an Appraisable Issue
If You Believe Your Appraisal Award Is Wrong – You Might Be Right
Jeff Zane | Property Insurance Coverage Law Blog | November 13, 2017 In theory, the appraisal process is intended to provide an efficient means of determining the cost to repair or replace damaged property. It is also intended to have a degree of finality – once the appraisal panel determines the amount of damages, the… Continue reading If You Believe Your Appraisal Award Is Wrong – You Might Be Right
Federal Arbitration Act Governs Property Insurance Appraisals
Richard Wolf | Claims Journal | July 27, 2017 In a decision filed July 14, 2017, the US District Court for the Central District of California invoked the Federal Arbitration Act (FAA) in refusing to vacate an insurance appraisal award determining the value of insured tools stolen from their owner. The decision, James Dickey, Inc. v. Alterra Insurance… Continue reading Federal Arbitration Act Governs Property Insurance Appraisals