MS HB396

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 when coverage is acknowledged or a covered peril caused any aspect of the loss.

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

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

Preserves court jurisdiction over all coverage and liability matters, though such issues do not prevent an appraisal from proceeding.

Directs the Commissioner of Insurance to promulgate rules and regulations to implement these provisions, effective July 1, 2025.