Originally published by Chip Merlin.
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 years of judicial and legislative scrutiny has shaped appraisement into an almost perfect method of alternative dispute resolution. Over the past twenty-five years it has stepped out of the shadow cast by arbitration and taken on a life of its own. In the context of insurance, it has become the methodology of choice for resolving disputes over value of property and the amount of an insured loss.
Many appraisers and umpires probably agree that appraisal is the best and most efficient manner to resolve insurance disputes. Yet, many probably think judges, who are not familiar with appraisal, are making it more difficult than it has to be with many different rules…
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