State Codes and Statutes

Statutes > New-york > Isc > Article-34 > 3408

§  3408. Fire insurance; appraisal of loss; procedure for selection of  umpire on failure to agree. (a) Whenever application shall be  made  for  the  selection  of  an  umpire  pursuant  to  the provisions relating to  appraisals contained in the standard fire insurance policy of the  state  of  New York it shall be made to a justice of the supreme court residing  in the county or to a county judge of the county in which  the  lost  or  damaged  property  is  or  was located. The application shall be on five  days' notice in writing to the other party. Any such notice in  writing,  when  served  by  the insured, may be served upon any local agent of the  insurer.    (b) The court shall, on proof by affidavit of the failure  or  neglect  of  the  appraisers  to  agree upon and select an umpire within the time  provided in such policy, and  of  the  service  of  notice  pursuant  to  subsection  (a)  hereof, forthwith appoint a competent and disinterested  person to act as such umpire in the ascertainment of the amount of  such  loss or damage.    (c)  In  the  event  of a covered loss, whenever an insured or insurer  fails to proceed with an appraisal upon  demand  of  the  other,  either  party may apply to the court in the manner provided in subsection (a) of  this  section  for  an  order  directing  the  other to comply with such  demand. If an appraisal  is  so  ordered,  it  shall  be  limited  to  a  determination  of  actual  cash  value  and/or  replacement cost, or the  amount of loss which shall be determined as specified in the policy  and  shall  proceed  pursuant to the terms of the applicable appraisal clause  of the insurance policy and not as an arbitration.

State Codes and Statutes

Statutes > New-york > Isc > Article-34 > 3408

§  3408. Fire insurance; appraisal of loss; procedure for selection of  umpire on failure to agree. (a) Whenever application shall be  made  for  the  selection  of  an  umpire  pursuant  to  the provisions relating to  appraisals contained in the standard fire insurance policy of the  state  of  New York it shall be made to a justice of the supreme court residing  in the county or to a county judge of the county in which  the  lost  or  damaged  property  is  or  was located. The application shall be on five  days' notice in writing to the other party. Any such notice in  writing,  when  served  by  the insured, may be served upon any local agent of the  insurer.    (b) The court shall, on proof by affidavit of the failure  or  neglect  of  the  appraisers  to  agree upon and select an umpire within the time  provided in such policy, and  of  the  service  of  notice  pursuant  to  subsection  (a)  hereof, forthwith appoint a competent and disinterested  person to act as such umpire in the ascertainment of the amount of  such  loss or damage.    (c)  In  the  event  of a covered loss, whenever an insured or insurer  fails to proceed with an appraisal upon  demand  of  the  other,  either  party may apply to the court in the manner provided in subsection (a) of  this  section  for  an  order  directing  the  other to comply with such  demand. If an appraisal  is  so  ordered,  it  shall  be  limited  to  a  determination  of  actual  cash  value  and/or  replacement cost, or the  amount of loss which shall be determined as specified in the policy  and  shall  proceed  pursuant to the terms of the applicable appraisal clause  of the insurance policy and not as an arbitration.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Isc > Article-34 > 3408

§  3408. Fire insurance; appraisal of loss; procedure for selection of  umpire on failure to agree. (a) Whenever application shall be  made  for  the  selection  of  an  umpire  pursuant  to  the provisions relating to  appraisals contained in the standard fire insurance policy of the  state  of  New York it shall be made to a justice of the supreme court residing  in the county or to a county judge of the county in which  the  lost  or  damaged  property  is  or  was located. The application shall be on five  days' notice in writing to the other party. Any such notice in  writing,  when  served  by  the insured, may be served upon any local agent of the  insurer.    (b) The court shall, on proof by affidavit of the failure  or  neglect  of  the  appraisers  to  agree upon and select an umpire within the time  provided in such policy, and  of  the  service  of  notice  pursuant  to  subsection  (a)  hereof, forthwith appoint a competent and disinterested  person to act as such umpire in the ascertainment of the amount of  such  loss or damage.    (c)  In  the  event  of a covered loss, whenever an insured or insurer  fails to proceed with an appraisal upon  demand  of  the  other,  either  party may apply to the court in the manner provided in subsection (a) of  this  section  for  an  order  directing  the  other to comply with such  demand. If an appraisal  is  so  ordered,  it  shall  be  limited  to  a  determination  of  actual  cash  value  and/or  replacement cost, or the  amount of loss which shall be determined as specified in the policy  and  shall  proceed  pursuant to the terms of the applicable appraisal clause  of the insurance policy and not as an arbitration.