“Appraisal” is a procedure typically mandated by state law or outlined in an insurance policy. Appraisal is a dispute resolution procedure intended to provide insurers and policyholders with a method to award the measurement of loss. The process is limited to disputed damages in first party insurance claims, including but not limited to real property, personal property, and/or time element damages. Appraisal is also a procedure used in other types of first party insurance, such as automotive, as a method to determine the cost to repair or replace motor vehicles.
Please see full publication below for more information.
