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CNA CNA PARAMOUNT First Party Terms and Conditions These First Party Terms and Conditions apply to the Business Property Coverage Part, the Business Crime Coverage Part, as applicable, and their associated forms and endorsements. I. ABANDONMENT There can be no abandonment of any covered property to the Insurer unless the Insurer specifically agrees to such abandonment in writing. II. APPRAISAL If the Named Insured and the Insurer fail to agree on the amount of loss for physical damage or business income or extra expense, either may make a written demand for appraisal in which case within 30 days of that written demand each shall select an appraiser and shall notify the other of its chosen appraiser. This APPRAISAL Condition is not available to the Named Insured or the Insurer if there is a dispute as to whether the loss or damage was caused in whole or in part by a covered peril. This APPRAISAL Condition is not available if there is a dispute as to whether or not the loss is covered in whole or in part under this coverage part. An individual may be chosen as an appraiser for a claim only if such individual is a competent, independent and disinterested person and who has no direct or indirect financial interest in the loss or the adjustment of the claim. That appraiser cannot be: A. the Named Insured or any of the Named Insured's employees or agents (including any public adjuster or public adjusting company hired by the Named Insured); B. employed by the Insurer; or C. an independent adjuster hired by the Insurer for such claim. The appraisers will first select a competent, independent and disinterested umpire. If the appraisers fail to agree upon an umpire within 30 days then, only on the joint request of the Named Insured and the Insurer to a court of competent jurisdiction where the loss occurred, the Named Insured and the Insurer may request that the court select or appoint a competent, independent and disinterested umpire. If the Named Insured and the Insurer fail to agree to submit a joint request to a court of competent authority, either may file the necessary documents in a court of competent jurisdiction where the loss occurred to compel the other to comply with the terms of this APPRAISAL provision. The appraisers will then appraise, within a reasonable amount of time, the amount of loss, stating separately, as applicable: 1. the actual cash value or replacement cost as of the date of loss and the amount of loss, for each item of physical loss or damage; and 2. the amount of loss for each time element coverage. If the appraisers fail to agree, they will submit their differences to the umpire. An award agreed to in writing by any two will determine the amount of loss and that award will be binding on both parties but such appraisal award will not determine whether the loss is covered. Any appraisal award addressing whether or not a loss is or is not covered is void and is not binding on either party to the appraisal. The Named Insured and the Insurer will each: a. pay its chosen appraiser; and b. bear equally the other expenses of the appraisal and umpire. A demand for appraisal shall not relieve the Named Insured of its continuing obligation to comply with all of the terms and conditions of this Policy. CNA62647XX 10-15 Copyright CNA All Rights Reserved. No,=a RiskMmRgzmerdDivisian �� REVIEWED & APPROVED BY. - Risk Management Analyst