Denise Sze | Property Insurance Coverage Law Blog | April 27, 2016 When reading insurance policies it can be confusing to a policyholder regarding the differences in valuation of real property and personal property when terms like “fair market value”, “actual cost value”, and “replacement cost value” are referenced without explanation. Insurance companies use these… Continue reading Does Actual Cost Value Equal Fair Market Value When it Comes to Property Damage?
Tag: insurance appraisal
In Praise of Appraisal
Invoking alternatives to litigation in disputes over property catastrophe losses. Litigating catastrophe claims can be costly. Recently, the Committee of Magistrate Judges appointed in the In Re Hurricane Sandy litigation in the Eastern District of New York commented that they were alarmed by one defense attorney’s prediction that the defense of roughly 1,200 flood cases… Continue reading In Praise of Appraisal
What are Insurance Appraisals?
Advise & Consult, Inc. | October 19, 2015 What are they? An insurance appraisal simply put is the current estimate of reproduction costs of the physical assets of a property that are insurable. When you are looking to get an insurance appraisal done, you are asking the insurance company or experts from the field to… Continue reading What are Insurance Appraisals?
Insurance Appraisal Called “Almost Perfect Method” of Alternative Dispute Resolution
Chip Merlin | Property Insurance Coverage Law Blog | September 14, 2015 Law professor Johnny C. Parker recently published a law review article, Understanding The Insurance Policy Appraisal Clause: A Four-Step Program, where he claims that resolving property insurance disputes concerning amounts of loss is an “almost perfect method.” Here’s the quote: More than one hundred… Continue reading Insurance Appraisal Called “Almost Perfect Method” of Alternative Dispute Resolution
Insurance Appraisal as an Insurance Claim Dispute Resolution Tool
Eugene Peterson | Advise & Consult, Inc. Over the past few months, I have been amazed, even surprised to learn that many legal professionals are totally unaware of an alternative method of dispute resolution for insurance property claims, when the adjuster and the insured cannot come to agreement. We all know of arbitrations, mediations and… Continue reading Insurance Appraisal as an Insurance Claim Dispute Resolution Tool