Mediation
or Appraisal
The following is language typically found in your insurance policy:
A. Mediation
Demand a mediation of the loss in accordance with the rules established
by the Florida Insurance Department The loss amount must be $500
or more, prior to application of the deductible; or there must be
a difference of $500 or more between the loss settlement amount we
offer and the loss settlement amount that you request The settlement
in the course of the mediation is binding only if both parties agree,
in writing, on a settlement and, you have not rescinded the settlement
within 3 business days after reaching settlement You may not rescind
the settlement after cashing or depositing the settlement check or
draft we provided to you.
We will pay the cost of conducting any mediation conference
except when you fail to appear at a conference. That conference
will then be rescheduled upon your payment of the mediator's
fee for that rescheduled conference However, if we fail to appear
at a mediation conference, we will pay your actual cash expenses
that you incur in attending the conference and also pay the mediator's
fee for the rescheduled conference.
B. Appraisal
Demand an appraisal of the loss. In this event, each party
will choose a competent appraiser within 20 days after receiving
a written request from the other. The two appraisers will choose
an umpire. If they cannot agree upon an umpire within 15 days,
you or we may request that the choice be made by a judge of a
court of record in the state where the residence premises is
located. The appraisers will separately set the amount of the
loss. If the appraisers submit a written report of an agreement
to the amount agreed upon will be the amount of the loss If they
fail to agree, they will submit their differences to the umpire.
A decision agreed to by any two will set the amount of the loss.
Each party will:
- Pay its own appraiser; and
- Bear the other expenses of the appraisal and umpire equally.
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