Property insurance; authorize appraisal panel to determine value of property and amount of loss, including issues of causation.

Summary

The bill would require every property insurance policy issued in Mississippi to contain a written appraisal clause that either the insurer or the policyholder can invoke when they disagree on the loss amount or property value. An appraisal panel—two appointed appraisers and an umpire—would have exclusive authority to determine the property's value, cause of loss, repair costs, methods, scope and applicable building codes, while courts would still handle coverage and liability questions. The goal is to provide a faster, more specialized way to resolve property loss disagreements.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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