Question 1

WHAT IS INSURANCE APPRAISAL & UMPIRE?

Accepted Answer

ATA Loss Consulting will determine and consult with you if we believe invoking appraisal is the best fit for your case.
Insurance Appraisal is an avenue policyholders can take when they feel that their Insurance company isn’t giving a fair claim award for the damages they’ve experienced. The Appraisal Clause, also know as The Appraisal Provision, allows you to have third parties voice their opinion on the damages, and amount to be paid. It’s been described sort of like court arbitration, but without courtrooms, lawyers, or judges.  Most policies have an “Appraisal Clause”. To find the Appraisal Clause in your policy, look for the “Conditions” or “What to do after a loss” segment.

ATA Loss Consulting and your insurance company each select an appraiser. Each appraiser must evaluate the loss and determine the value of each item. The appraisers attempt to agree on the amount of loss and value. If we can not agree on the amount, the appraisers then agree on a third party to act as an umpire. Umpires are used either to break an impasse in arbitration or to serve as specialized, long-term decision makers. Any disagreements between the appraisers regarding the value of any items are submitted to and settled by the umpire. The parties agree in advance that the decision will be accepted as final and binding.

Question 2

WHAT IS INSURANCE MEDIATION?

Accepted Answer

ATA Loss Consulting, as your representative will schedule and go to this meeting on your behalf. Whether the claim is settled then or later, it’s just another avenue that can be used in the negotiation process of your claim. 
Insurance mediation refers to the process of settling disputes arising from certain types of insurance claims. The dispute will be between the insured and the insurance company. Many times policyholders go to mediation alone, which usually cost them a lot more than they bargained for. The Insurance company will have a representative to argue their prospective and thoughts on the insurance claim and the policyholder should have a representative, ATA Loss Consulting, to argue their prospective and thoughts on the claim. Both representatives come together at a scheduled time and place and hash out what a fair allotment will be.

While mediation focuses on achieving a negotiated resolution, the appraisal process involves hiring a third-party professional (umpire) to determine how much coverage is owed. The differences between appraisals and litigation involve the processes themselves and the result of decisions on the disputes. Both are formal processes, but appraisals can be less costly and results in shorter settlement times.

Question 3

HOW MUCH TIME DOES THIS TAKE?

Accepted Answer

In some cases, having ATA involved helps move the claim along more quickly. We know the process and work with insurance companies all the time.
But like anything, the more people involved can sometimes slow down the process. There is likely to be more negotiation back and forth between ATA Loss Consulting and the insurance adjuster.

Sometimes when a claim can’t be settled, the courts must get involved too. ATA acts as your advocate, in effort to raise the claim settlement to what you are rightfully owed, the insurance company resists, slowing down the process. The more negotiation there is back and forth, the more time it is likely to take to get a settlement.

Our process can take time, by law, most insurance companies are required to pay or deny claims within 90 days after filing. Keep in mind that this is the initial payout. The process to get more payouts can take longer. ATA Loss Consulting has the experience and knowledge to help expedite the process while maximizing your settlement.

Negotiation time can range from a few days to a few months, it really depends on how efficient your insurance company is. During this process our office staff will contact them almost daily by phone and e-mail to check the status of your claim, and to ensure that they are working on it steadily. During a catastrophe, such as a hurricane, processing time can slow down drastically because of the influx of thousands of claims.  Ideally a residential, non-catastrophic claim would be completed in 90 days. A multi-million dollar commercial property catastrophic claim can last up to two years, depending on the details. Because there are so many variables, it’s very difficult to say how long it will take for your specific claim.

Question 4

ARE THERE ANY UPFRONT FEES FOR SERVICES?

Accepted Answer

No. We don’t get paid until and unless you get paid.
We typically spend our own money and time documenting and resolving your claim before we get paid. Our consultation and policy review is FREE and without any obligation.

Frequently Asked Questions

WHAT IS INSURANCE APPRAISAL & UMPIRE?

WHAT IS INSURANCE MEDIATION?

HOW MUCH TIME DOES THIS TAKE?

ARE THERE ANY UPFRONT FEES FOR SERVICES?

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