Exam DISC-IA Practice Question 620
Study guide: Exam DISC-IA
After a fire, the insured and the insurer agree the loss is covered but disagree by $90,000 on the amount. The insured demands an appraisal in writing under the BPP. Which statement about the appraisal is correct?
- A) Each party pays its own appraiser, and they share the umpire's cost equally
- B) The insurer pays all appraisal costs, because the insured demanded it in writing
- C) The appraisers' decision binds only if both appraisers and the umpire all agree
- D) Once an appraisal is demanded, the insurer gives up any right to deny the claim
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