§ 3408 — Fire insurance; appraisal of loss; procedure for selection of umpire on failure to agree

§ 3408. Fire insurance; appraisal of loss; procedure for selection of\numpire on failure to agree. (a) Whenever application shall be made for\nthe selection of an umpire pursuant to the provisions relating to\nappraisals contained in the standard fire insurance policy of the state\nof New York it shall be made to a justice of the supreme court residing\nin the county or to a county judge of the county in which the lost or\ndamaged property is or was located. The application shall be on five\ndays' notice in writing to the other party. Any such notice in writing,\nwhen served by the insured, may be served upon any local agent of the\ninsurer.\n (b) The court shall, on proof by affidavit of the failure or neglect\nof the appraisers to agree upon and select an umpire within the time\nprovided in such policy, and of the service of notice pursuant to\nsubsection (a) hereof, forthwith appoint a competent and disinterested\nperson to act as such umpire in the ascertainment of the amount of such\nloss or damage.\n (c) In the event of a covered loss, whenever an insured or insurer\nfails to proceed with an appraisal upon demand of the other, either\nparty may apply to the court in the manner provided in subsection (a) of\nthis section for an order directing the other to comply with such\ndemand. An appraisal shall determine the actual cash value, the\nreplacement cost, the extent of the loss or damage and the amount of the\nloss or damage which shall be determined as specified in the policy and\nshall proceed pursuant to the terms of the applicable appraisal clause\nof the insurance policy and not as an arbitration. Notwithstanding the\nprovisions of this subsection, an appraisal shall not determine whether\nthe policy actually provides coverage for any portion of the claimed\nloss or damage.\n