A new bill passed in the New York State legislature has expanded property claims appraisals in order to help property owners avoid litigation in the event of a loss. Bill A9346A is designed to benefit the citizens of New York, many of who suffered damage from Hurricane Sandy, and will broaden the scope of appraiser’s responsibility. The bill passed in the New York State Assembly on June 14, 2014 and has been in the making for over ten years.
Bill A9346A pertains to Insurance Law Section 3408 subsection (c), which details rules about court ordered appraisals in fire insurance policies. According to the new bill, “Scope Of Loss” disputes can now be resolved through a property appraisal, which benefits insured citizens. Previously, insurance companies could deny a consumer demand for an appraisal if the scope or extent of loss was being disputed, rather than the monetary value of the loss. Bill A9346A will now allow consumers to have the “scope of loss” appraised. The bill comes as good news to consumers, and would help eliminate the need for costly and time-consuming litigation.
Complete General Contractors, Inc. has over 17 years of experience in providing appraising, contracting, and expert witness services to those in need — both insurers and their policyholders. We have conducted more than a 1,000 appraisals throughout the country and take the process seriously, whether we are serving as appraisers or umpires. Find out more about our appraisals process at Complete General Contractors, Inc.
Contact us today to speak with our professionals if you have a claim that may require an appraisal and to see if we might be a good fit. We have nearly unlimited capacity in this regard.