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Property Insurance Appraisal

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The course “Property Insurance Appraisal” is designed to enhance an adjuster’s knowledge and understanding of the property insurance appraisal process. The module is presented by attorneys, G. Brian Odom and Todd M. Tippett, partners at the law firm, Zelle LLP.

This course begins with an overview of the appraisal process, focusing on the purpose of appraisal and how the appraisal process is intended to work. The presenters then outline some of the “pros” and “cons” of using the appraisal process. Next, the presenters discuss what issues are appraisable, providing case law and statutory examples, so adjusters can determine if appraisal is appropriate for their particular claim. In the next sections, the presenters describe the composition of the appraisal panel, the qualifications of the two appraisers and the umpire and the form and impact of an appraisal award. The presenters also examine how the parties can waive their appraisal rights and the limited grounds for challenging an appraisal award. The presenters conclude the course by discussing several keys to ensuring that the appraisal process works as intended, including knowing the law in the applicable jurisdiction, making a timely demand, using a qualified appraisal panel and obtaining a proper award form.

After completing the course, the viewer should be able to …

Explain the purpose of appraisal and how the appraisal process works in a perfect world; identify the standard appraisal policy language; list some of the “pros” and “cons” of using the appraisal process; distinguish between the narrow and broad views of the scope of appraisal; describe how the appraisal process is commenced; outline the information that should be included in an appraisal demand letter; evaluate when appraisal should be used; recognize when a party may have waived its right to appraisal; describe the composition of the appraisal panel and the qualifications for the appraisers and umpire; assess if grounds exist to challenge an appraisal award; and, understand the use and purpose of appraisal protocols.

The course is designed for insurance professionals and vendors working in the area of property insurance adjustment.

What CE Credit is available?

Note: To qualify for credit, you must submit completion (including a passed final exam if required) within five days of completing the last quiz. No partial credits will be awarded.

State:
Adjuster General CE Hours:
Adjuster Ethics CE Hours:
Attorney General CLE Hours:
State's Course ID:
FL * ( Provider Number: 364169 ) 2.0 Optional 1184890
TX (classroom equivalent) 2.0 110439
NC 2.0 207973
IL 2.0 Professional 480088
WY 2.0 28544
OK 2.0 6000015828
NH 2.0 482643

* This course has been approved by the Florida Department of Financial Services for insurance continuing education credit.

Course Content

Overview of the Appraisal Process
Expand
Lesson Content

1) Introduction and outline of course
2) What appraisal used to be and what it is today
3) Contractual nature of appraisal
4) Recent changes to the scope of appraisal
5) Emergence of “professional appraisers”
6) Pros of appraisal
7) Cons of appraisal
8) The appraisal process in a perfect world
9) Recap

Scope of Appraisal
Expand
Lesson Content

1) What issues are appraisable
a) Narrow scope of appraisal
b) Expanded scope of appraisal
2) Case law interpretations and statutes
3) Considerations before agreeing to an appraisal demand
4) Practical tips
5) Sample language to include in an appraisal award
6) Recap

Commencement of Appraisal
Expand
Lesson Content

1) Pre-appraisal considerations
2) Tendering a written appraisal demand
3) Content of an appraisal demand
4) Timing and waiver issues
5) Practical tips
6) Recap

Appraisal Panel
Expand
Lesson Content

1) Composition of the panel
2) Standard for qualification of appraisers
3) Practical tips for appraiser selection
4) Standard for qualification of the umpire
5) Practical tips for umpire selection
6) Recap

Appraisal Award
Expand
Lesson Content

1) Form of the award
2) Binding nature of the award and difficulties in challenging
it
3) Claims disposed of by an appraisal award
4) Considerations before challenging an appraisal award
5) Uses and purposes of appraisal protocols
6) Practical tips
7) Recap

Ensuring the Appraisal Process Works as Intended
Expand
Lesson Content

1) Policy language revisions
2) Jurisdictional differences
3) Importance of making a timely demand
4) Using a proper award form
5) Final thoughts
6) Closing remarks
7) Recap

Get CE Credit or Certificate of Completion.

Submit within 5 days to get CE Credit or Certificate of Completion.

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