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Property Bldg. Laws Safeguards General Liability Emp, Benefit Liab. Employer Liability Aircraft Products Liab. Sexual Harassment Dir. & Officers Liab. Professional Liability Elect. Data Proc. Cov. Kidnap or Ransom
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[U007]
1) A person selected by two appraisers to help settle disputes in property insurance claims. The appraisers are chosen by the disputing company and claimant, and a decision of any two of the three is binding. For example, if a company and claimant fail to agree on actual cash value of property destroyed or the amount of the loss, many policies provide that these be determined by appraisal.
2) A similar person in an arbitration proceeding under a reinsurance contract.
Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100