By Matthew Weaver and Jessica Gopiao (November 30, 2021, 3:55 p.m. EST) – In the insurance world, the use of valuation, when invoked at the right time and in the right case, is a tool important for resolving complex business assets quickly and efficiently. and home insurance claims. Similar to but narrower than arbitration – its contractual cousin – valuation in its most basic form is an out-of-court method of determining the amount of loss under a property insurance policy.
The purpose of the assessment is to promote the resolution of insurance claims by having complex factual issues of causation, price and scope resolved by industry professionals, rather than judges and juries. . When an insurance policy contains a valuation clause –…
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