ASSESSMENT
Standard fire insurance policy contains the following chapter 1943:
If being in waiting and the insurance company cannot agree on the actual cash value of the loss, then upon written request of one of the parties, each party will select an assessor (appraiser) a competent impartial (disinterested) and notify the other party about the assessment in his select it within 20 days from the request. These reviewers initially would select a competent referee and impartially, and if in 15 days did not manage to agree on a referee was then at the request of a party or insurance company responsibility in this, the referee that would be selected by the judges of the Court of the country where prices are distinct in that insure. The assessor will then assess such damages, stating separately actual cash value and losses of each item. If each of these dates do not agree will be something, then they will submit their differences to the referee. A written submission that has been on and detailed of the assessor will determine the amount of actual cash value and loss. each appraiser is paid by each party who elected him and referee judgments and expenses will be paid by each party as great.
A similar article in the encounter in a number of other property insurance contract. This article does not apply to disputes about whether or not there is a liability. It only applies to disputes regarding the amount of responsibility (debt = liability). If insurance companies absolutely refuse liability for the loss of something then the party can claim responsibility in a court.
The purpose of this assessment is the article to reduce the matter to court. Trust there is the possibility of dissent because the party in responsibility may assess the amount of the loss is too high, while the insurance rate is too low. Article assessment will help the resolution of these differences out of court and faster.
ABANDONMENT AND SALVAGE
Standard fire insurance policy States that no abandonment (delivery of) a treasure to the insurance company. However the severity of the damage, the parties on the liability according to the fire insurance policy is not entitled to impose on his receipt items in saved (salvage) by the insurer. Article abandonment similar encounter in polis car and other property insurance policy.
Abandonment in Marine Insurance
The nature of the property in insure in marine insurance difficult for parties that are in the responsibility of doing business rescue. Therefore, in certain circumstances, the parties have the right responsibilities in abandonment (surrender) perceived there if there were no remains of such goods unless the ruins or if it is not possible to recover it at all. This occurs when (1) the wrecks that can no longer fix or (2) if the property was not able to recover in the back by the party in responsibility. An example of a total loss is in fact disappeared without traces, sank, and was destroyed entirely by fire or marine disasters.
THE LENGTH OF THE SETTLEMENT
Insurance policies can be finished in various ways. In most policies, the choice of a settlement located on the insurer, while in other policies at a party in responsibility. In fire insurance, the insurance company reserves the right to repair or replace the damaged items and not pay the damages.
Health insurance policies may provide an option to the indemnity in the liability for certain types of accidents which resulted in broken bones and dislocations replacement treatments or cash payment.
The cash value in a life insurance policy can pay at one time or recurring payments for a certain period, or for a lifetime. The choice lies with the party which is in the responsibility or beneficiary (statutes).
