California Insurance Code ARTICLE 5 - Loss

• Section 8070.
  A member of such reinsurer, upon sustaining loss covered by reinsurance, shall immediately notify the president or secretary, stating the amount of loss.(Enacted by Stats....
• Section 8071.
  The president and secretary shall proceed to ascertain the amount of such loss and make adjustment.(Amended by Stats. 1945, Ch. 98.)
• Section 8072.
  If the claim is for more than five thousand dollars ($5,000), the secretary shall forthwith notify each member of the executive committee. At each regular...
• Section 8073.
  If in any case there is a failure of the parties to agree upon the amount of such loss they may submit the question of...
• Section 8074.
  If the two arbitrators thus appointed fail to agree upon the amount of such loss, they shall select a third disinterested person to act with...
• Section 8075.
  Such arbitrators so appointed may examine witnesses and do all other things necessary to the proper determination of the amount of loss sustained by the...
• Section 8076.
  The arbitrators shall make their award in writing to the president of the reinsurer and to the member. Such award shall be final as to...
• Section 8077.
  The pay of each arbitrator shall be five dollars per day for each day’s services rendered, and five cents for each mile necessarily traveled in...
• Section 8078.
  The president and secretary of the reinsurer may secure the services of an adjuster to represent it on any loss, subject to confirmation by its...

Last modified: October 22, 2018