MS HB9

Requires all property insurance policies issued or delivered in Mississippi to include an appraisal provision allowing either party to demand appraisal if coverage has been acknowledged or a covered peril caused any aspect of the loss.

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

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

Reserves all coverage and liability matters for the courts, but provides that coverage or liability issues do not prevent an appraisal from proceeding.

Directs the Commissioner of Insurance to promulgate rules and regulations to implement the provision, effective July 1, 2024.