2015 Wyoming Code
TITLE 26 - INSURANCE CODE
CHAPTER 26 - FARM MUTUAL PROPERTY INSURERS
SECTION 26-26-126. - Claims; arbitration of dispute by committee of reference.

WY Stat § 26-26-126. (2015) What's This?

26-26-126. Claims; arbitration of dispute by committee of reference.

(a) If the insurer's adjuster and a claimant fail to agree as to the amount of the insured loss the claimant sustained, the matter shall be submitted to three (3) persons as a committee of reference to be selected as follows and all of whom shall be sworn to a faithful and impartial investigation and award:

(i) One (1) shall be selected by the claimant;

(ii) One (1) shall be selected by the insurer; and

(iii) The third person shall be selected by the other two (2) persons.

(b) The committee of reference may examine witnesses and determine all matters in dispute. The decision or award of the committee shall be made in writing to the insurer's secretary, and the award is final and binding upon the insurer and the claimant.

(c) Each member of the committee shall receive five dollars ($5.00) for each day of service in the discharge of his duties. The claimant shall pay this compensation, unless the committee's award exceeds the sum the insurer previously offered in settlement of the claim, in which case the insurer shall pay the compensation.

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