What Is an Insurance Umpire?
As procedural experts, we can keep an appraisal on track, and avoid issues in finding a resolution.
When you and your insurer dispute the “amount of loss” either one of you can invoke an appraisal clause if one exists. You will each hire an appraiser, and the two appraisers will choose an umpire.
If the two appraisers cannot agree on an umpire, you or your insurer may request that the choice be made by a judge in the state where your property is located.
Should the two appraisers be unable to agree on the amount of loss, they will submit their respective reports to the umpire.
Insurance Umpire Services to Resolve Claim Disputes
Insurance appraisal is a binding alternative dispute resolution process that typically involves two independent appraisers who evaluate the claim, compare notes, and come to an agreement. When a disagreement arises between the property owner’s appraiser and the insurance company’s appraiser, an impartial umpire is suggested and agreed upon by both appraisers.
Each party will pay its own appraiser and bear the other expenses of the appraisal and umpire equally. An itemized decision agreed to by any two of the three parties (the two appraisers and the umpire) will set the amount of loss. Such award shall be binding.
Umpires Are:
- Competent in loss adjusting and construction
- Responsible for assessing the amount of a property loss or value of a property
- Tasked with making a binding decision if and when two appraisers are unable to agree.
- Best utilized when appointed at the beginning of the appraisal process.