Some might not recognize the Windstorm Insurance Network (WIND) here in the Northwest. WIND started in the State of Florida and is rapidly spreading throughout the country. I have been privileged to become the 1st member in the state of Washington who is a WIND Certified Appraiser® and WIND Certified Umpire®.
The WIND Network is unique because it is a network of insurance professionals, both Independent Adjusters and Public Adjusters, who come together to discuss the appraisal process.
What is an Appraisal Clause?
Appraisal Provision in Insurance Policies The appraisal provision in a property insurance policy allows the policyholder to hire an independent appraiser to determine the value of their damages. The insurance company will typically also hire their own independent appraiser. The two appraisers will then get select together an umpire. The umpire is basically an arbitrator. If a disagreement between the two appraisers arises, they can present their differences to the umpire who will make a ruling. These three individuals are known as the Appraisal Panel, with the goal to determine the Amount of Loss. The Amount of Loss is the total dollar amount needed to return the damaged property back to original condition, either by repair or replacement.
Appraisers and Umpires Once the Appraisal Panel is set, the policyholder’s chosen appraiser and the insurance company’s chosen appraiser will review the documents, estimates, and differences. The two independent appraisers will try to discuss and resolve the differences in damage and in cost. The two appraisers will discuss their reasons for their position and try to come to an agreement.Sometimes issues arise where the two independent appraisers can’t agree on certain items. In this event, the two appraisers will submit their difference to the chosen umpire. The three will discuss the issues and try to reach an agreed settlement of the differences. As stated above, the settlement or final number is called The Amount of Loss. The final amount is known as the Appraisal Award.
I traveled to Orlando in Feburary for a week conference filled with training and classes designed to help insurance professionals negotiate and settle complex claims. The WIND Network certifies their members and requires they adhere to a strict code of conduct. They are outlined in the following Canons.
Appraiser Code of Ethics
CANON I – An appraiser should uphold the integrity and fairness of the appraisal process.
CANON II – An appraiser should avoid impropriety or the appearance of impropriety in communicating with the umpire.
CANON III – An appraiser should make decision in a just, independent and deliberate manner with utmost integrity.
CANON IV – An appraiser should be faithful to the relationship of trust and confidentiality inherent to that office.
CANON V – An appraiser may engage in advertising or promotion of his or her appraisal services which is truthful and accurate.
Umpire Code of Ethics
CANON I – An umpire should uphold the integrity and fairness of the appraisal process.
CANON II – An umpire should disclose any interest or relationship likely to affect impartiality or which might create an appearance of partiality.
CANON III – An umpire should avoid impropriety or the appearance of impropriety in communicating with parties.
CANON IV – An umpire should conduct the proceedings fairly and diligently.
CANON V – An umpire should make decisions in a just, independent, and deliberate manner.
CANON VI – An umpire should be faithful to the relationship of trust and confidentiality inherent in that office.
CANON VII – An umpire should adhere to standards of integrity and fairness when making arrangements for compensation and reimbursement of expenses.
CANON VIII – An umpire may engage in advertising or promotion of arbitral services which is truthful and accurate.
Please feel free to contact me if you have a need for an appraiser or umpire in the appraisal process of resolving a claim.
- Auto/Light Truck Appraisal Clause
- Vehicle Total Loss Appraisal
- Residential Property Damage Appraisal
- Commercial Property Damage Appraisal