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- Title
AWARD RENDERED BY APPRAISERS ON QUESTION OF AMOUNT OF LOSS UNDER BUSINESS INTERRUPTION COVERAGE OF POLICY, DULY SUBMITTED BY BOTH INSURED AND INSURER, IS VALID.
- Abstract
This article focuses on the court ruling given in Nickals v. Ohio Farmers Insurance Co. case. Award rendered by appraisers on question of amount of loss under business interruption coverage of policy, duly submitted by both insured and insurer, is valid. Such an award can be vacated only on one of the grounds set forth in the controlling state statute. The court commented: "The law favors arbitration and it has long been an accepted principle of law, with respect to review by a court of an arbitration award, that there exists strong presumption favoring the validity of the award."
- Subjects
LEGAL judgments; OHIO Farmers Insurance Co.; ACTIONS &; defenses (Law); ARBITRATION &; award; BUSINESS income insurance; BUSINESS losses
- Publication
Arbitration Journal, 1965, Vol 20, Issue 2, p128
- ISSN
0003-7893
- Publication type
Article