What is the next step after the appraisers have selected an umpire?

After the appraisers have selected an umpire, the correct next step is to appraise the loss. This process involves the appraisers – along with the umpire, who acts as a neutral third party – working together to evaluate the specifics of the loss in question. The appraisers will present their findings and opinions regarding the extent of the damages or losses incurred. This step is critical as it lays the foundation for any potential settlement negotiations that may follow based on the appraised value.

In a claims process, appraising the loss is an essential phase where the details are objectively assessed before moving on to negotiations or reporting. Selecting an umpire signifies that there are disputes between the appraisers that need resolving through this appraisal process. It is crucial to accurately determine the extent of losses before any other actions, like negotiations or submitting reports, can successfully take place.