Explain the Importance of the Appraisal Clause in Property Insurance

question 46

Essay

Explain the importance of the appraisal clause in property insurance.

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Definitions:

Organic Organization

A flexible, adaptive type of organizational structure that encourages cooperation and collaboration among employees.

Bureaucratic

Pertaining to a system of government or organization that is marked by fixed rules, a hierarchy of authority, and a focus on procedural correctness.

Centralized

A system where decision-making authority is concentrated at a single point or in the hands of few within an organization.

Decentralized

A system where decision-making powers are distributed among various levels or locations rather than being concentrated in a central authority.