Laserfiche WebLink
Own <br />may, within 60 days after the proof of loss is filed, demand <br />an appraisal of the loss. In such event the insured and <br />the company shall each select a competent appraiser, and <br />the appraisers shall select a competent and disinterested <br />umpire. The appraisers shall state separately the actual <br />cash value and the amount of loss and failing to agree <br />shall submit their differences to the umpire. An award in <br />writing of any two shall determine the amount of loss. The <br />insured and the company shall each pay his chosen appraiser <br />and shall bear equally the other expenses of the appraisal <br />and umpire. <br />The company shall not be held to have waived any of <br />its rights by any act relating to appraisal. <br />11. Payment of Loss The company may pay for the loss in <br />Coverage C money but there shall be no abandon- <br />ment of the damaged property to the company. <br />12. No Benefit to Bailee The insurance afforded by this <br />overage policy shall not enure directly <br />or indirectly to the benefit of any carrier or bailee, <br />other than the named insured, liable for loss to the prop- <br />erty. <br />13. Subrogation In the event of any payment under this <br />policy, the company shall be subrogated to all the insured's <br />rights of recovery therefor against any person or organi- <br />zation and the insured shall execute and deliver instruments <br />and papers and do whatever else is necessary to secure such <br />rights. The insured shall do nothing after loss to preju- <br />dice such rights. <br />14 Application of Insurance The insurance afforded by <br />this policy is primary insurance. <br />15. Three Year Policy A policy period of three years is <br />comprised of three consecutive annual periods. Computation <br />and adjustment of earned premium shall be made at the end <br />of each annual period. Aggregate limits of liability as <br />stated in this policy shall apply separately to each annual <br />period. <br />16. Changes Notice to any agent or knowledge possessed <br />by any agent or by any other person shall not effect a <br />waiver or a change in any part of this policy or estop <br />the company from asserting any right under the terms of <br />this policy; nor shall the terms of this policy be waived <br />or changed, except by endorsement issued to form a part of <br />this policy signed by (here insert <br />titles of auThorized company officials or representatives); <br />12. <br />