{"id":668,"date":"2014-07-18T23:18:38","date_gmt":"2014-07-19T03:18:38","guid":{"rendered":"http:\/\/insuranceclaimsgroup.com\/blog\/?p=668"},"modified":"2014-07-18T23:47:22","modified_gmt":"2014-07-19T03:47:22","slug":"benefits-of-umpire-services-in-insurance-claims","status":"publish","type":"post","link":"https:\/\/insuranceclaimsgroup.com\/blog\/benefits-of-umpire-services-in-insurance-claims\/","title":{"rendered":"Benefits of Umpire Services in Insurance Claims"},"content":{"rendered":"

\"appraisal<\/a>Benefits of Umpire Services in Insurance Claims<\/span><\/h1>\n

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An appraisal umpire is essentially an unbiased, competent and disinterested individual who is selected in cases where the policyholder and insurance carrier are engaged in the insurance appraisal process. An umpire is a professional who is appointed by appraisers as an impartial intervener who helps make decisions when the two appraisers reach differences. When either appraiser is in agreement with the umpire on the \u201camount of loss\u201d for the damages, the decision is binding. In simplest terms, an umpire is an expert on the \u201camount\u201d or \u201ccosts\u201d for items that have suffered damage.<\/p>\n

The Umpire \u2018Clause\u2019<\/strong><\/span><\/h2>\n

The umpire clause is actually quite similar to an arbitration clause. It means that the insurance policy provides for a means of settlement or resolution of a case with the intervention of a third unbiased party. This is required when the two sides involved (the insurance company and the policyholder) are unable to agree on a fair claim amount, despite hiring independent appraisers.<\/p>\n

Appointing An Insurance Umpire<\/span><\/h2>\n

The decision with regards to the appointment of an umpire is part of an appraisal process. It is included in most property policies, but a few insurance companies may have eliminated the clause from their policy. The cost of a lawsuit or court proceedings may actually be avoided by both parties who decide to use this process for a mutually amicable resolution of their dispute.<\/p>\n

Most legal experts suggest that the services of an umpire possibly be utilized in every appraisal process. It is not mandatory to use their services to the fullest extent, but if hired right in the beginning, i.e. when the appraisal process is initiated, they will be ready with all details related to the insurance claim case. This makes them readily available to act in case the two appraisers are unable to settle on an agreeable amount or claim value.<\/p>\n

Benefits To Policyholders<\/span><\/h2>\n

Many a times, the policyholders are left frustrated and with no choice but to accept the amount offered by the insurance company. It is also true that in most cases, the insurance company fails to provide a notification to the policyholders about their rights of participation in various beneficial forums such as those geared towards resolving property damage claims. So the appraisal process can actually be a very effective alternative insurance claim settlement process for the policyholder, given that it is conducted in a proper and systematic manner.<\/p>\n

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RESOURCES:<\/strong><\/p>\n

Texas Reminds Insurers Of The Benefits Of ADR Appraisals<\/strong><\/a>
\nUmpire’s Subject Matter Expertise<\/a><\/strong><\/p>\n