What is an Appraisal?
The Appraisal Process Even when an insurer agrees to cover an insurance claim, disputes often arise between the insurer and the insured as to the valuation of the loss, particularly claims under commercial property and...more
Accepting coverage for part of a claim may subject an insurer to a policy’s appraisal process when the extent of covered damage is in dispute, according to a recent ruling issued by the Eastern District of Tennessee....more
On November 10, 2021, Florida’s Fourth District Court of Appeal weighed in on a matter involving the interpretation of an appraisal clause for resolving disputes regarding the amount due for covered loss in First Call 24/7,...more
In the continuing saga of what can and cannot be appraised in a property insurance appraisal, the Tenth Circuit, in contrast to many other courts, has ruled appraisers can determine coverage issues....more
Even if an insurance company attempts to deny its coverage obligations, there are still processes that a policyholder can explore, short of litigation, that could resolve a coverage dispute. Appraisal is an alternative...more
In the aftermath of the 9/11 attacks, the Appraisal Institute issued guidance to its MAI appraisers regarding the new challenges and limitations on rendering an opinion of real estate value in the wake of a disaster when...more
When the insured and insurer disagree on the amount of a particular loss, an appraiser can help settle the matter. Partner and insurance attorney Nate Meyer explains an appraiser's role in this video. ...more
On June 24, 2019, the Colorado Supreme Court issued its opinion in Owners Ins. Co. v. Dakota Station II Condominium Assoc., Inc., Case No. 17SC583, 2019 WL 2571645 (Colo. June 24, 2019), holding that when parties invoke an...more
In a recent opinion, the Delaware Court of Chancery, for the first time, held that contractual provisions in stockholder agreements barring common stockholders from exercising their statutory appraisal rights are enforceable...more
Hurricane Nate made landfall on the Mississippi Gulf Coast near the city of Biloxi on Sunday, October 8, 2017, as a Category 1 Hurricane. The eastern quadrant of the storm’s center also passed over significant portions of...more
On November 25, the Consumer Financial Protection Bureau, Board of Governors for the Federal Reserve System and Office of the Comptroller of the Currency announced that the threshold for exempting loans from special appraisal...more
The CFPB has published notices in the Federal Register announcing that it is making no change to three exemption thresholds that are subject to annual inflation adjustments. Effective January 1, 2016, through December 31,...more
Appraisal has long been utilized as a tool for resolution of disputes over the amount of loss at issue in property insurance claims. Unfortunately, the appraisal process has devolved in recent years. What was once considered...more
On Tuesday of this week, a unanimous panel of Texas’ intermediate level appellate court rejected arguments that an appraisal award that set forth lump sum replacement cost, depreciation, and actual cash value amounts for real...more
The Florida Legislature recently adopted amendments to chapter 605 of the Florida Revised Limited Liability Company Act (the “Act”) which will generally go into effect July 1, 2015. The amendments were passed to correct...more
Minnesota’s severe weather season is here. With that season comes the possibility of hail, heavy rain, lightning, and other weather-related threats that can quickly result in serious property damage to residential and...more
The Corporation Law Section of the Delaware State Bar Association recently approved amendments to the General Corporation Law of the State of Delaware (the “Proposed DGCL Amendments”), which would prohibit Delaware stock...more
In a pair of sinkhole cases, different panels of Florida’s intermediate level appellate court recently compelled appraisal, and the decisions are instructive because they address both challenges to the procedure and also the...more
When a commercial tenant exercises an option to renew a lease it is imperative that the landlord and tenant have effective mechanisms in place to determine the rent for the renewal term. Ideally both parties will agree on the...more
A long time ago in a land far, far away, property insurers and their insureds recognized that not every insurance dispute necessitated the expense and headache of a full-blown lawsuit. The result of this recognition was the...more
Numerous commentators and academics have written about the growth of M&A litigation over the last several years. Less noticed, but perhaps more significant, has been the growing tendency of institutional and other large...more
A frequent issue in first party property insurance claims is whether a party has waived the right to invoke the appraisal process in the adjustment of a property claim. Appraisal is the mechanism for determining the amount of...more
Agencies Propose Rule Exempting Certain Mortgages from Appraisal Requirements - On Wednesday, July 10, 2013, the Board of Governors of the Federal Reserve System (the “Fed”), Bureau of Consumer Financial Protection,...more