67A.161 ARBITRATION OF DISPUTED LOSSES.
If a township mutual fire insurance company and an insured fail to agree on the actual cash
value of an item or amount of a loss, on written demand by either party, the insured and the
company shall each, within 20 days of the demand, select a competent and disinterested appraiser
and notify the other party of the appraiser's identity. If either party fails to select an appraiser
within the time provided, the presiding judge of the district court in the county in which the loss
occurred shall appoint an appraiser to represent that party. The appointment shall be made upon
application to the court by the party not failing to make the required selection and upon five days'
written notice to the other party. The appraisers appointed pursuant to this section shall make a
good faith effort to select a competent and disinterested umpire. If the appraisers fail to agree
upon an umpire within 15 days of their appointment, the presiding judge of the district court in
the county in which the loss occurred shall appoint an umpire upon application by either party
and five days' written notice to the other party. The appraisers shall appraise the loss, stating
separately actual value and loss to each item. If the appraisers fail to agree, they shall submit their
differences to the umpire, whose decision shall control to the extent of the differences between the
appraisers. An award in writing, approved by the appraisers or by an appraiser and the umpire,
upon being filed with the company shall be conclusive evidence of the actual value and loss to
an item. An appraiser shall be paid by the party represented, and the expenses of the appraisal
and the umpire shall be paid in equal shares by the two parties.
History: 1975 c 15 s 13; 1986 c 444