MS HB1283

Requires all property insurance policies issued or delivered in Mississippi to include an appraisal provision that can be invoked by either the insurer or policyholder if coverage has been acknowledged or a covered peril caused any aspect of the loss.

Establishes appraisal process where each party selects a competent appraiser, the two appraisers select an umpire, and a decision agreed to by any two members of the appraisal panel is binding.

Grants the appraisal panel exclusive authority to determine property value, amount of loss, causation issues, repair costs and methods, scope of damage, and applicable building code requirements.

Reserves all matters of coverage and liability for the courts, but permits appraisals to proceed even when coverage or liability issues exist.

Directs the Insurance Commissioner to promulgate rules and regulations necessary to implement the provision, effective July 1, 2023.