January 2008

One of the most important provisions found in many property insurance policies is the appraisal clause. Although not as often in the public eye as other ADR processes (like arbitration and mediation), appraisal is commonly used to provide an informal, less expensive and faster way to quantify the property damages owed by insurers. It is particularly well suited to deal with catastrophic losses, and its usefulness was confirmed in the aftermath of the tragedy of 9/11 and the destruction of the World Trade Center.

MD&D was originally retained by VeriClaim, Inc. and Edward R. Reilly & Company, Inc. on behalf of numerous domestic and international property carriers during the adjustment phase, and later assisted leading law firms and J.S. Held, Inc. during the arbitration process.

Click here to download the article in PDF format.

Reprinted with permission from the Dispute Resolution Journal, vol. 62, no. 3 (Aug.-Oct. 2007), a publication of the American Arbitration Association, 1633 Broadway, New York, NY 10019-6708, 212.716.5800, www.adr.org.