Para­graph 5: Dis­pute on op­tion to re­pair or re­place

Insurance - - FEATURE -

This para­graph stip­u­lates that un­der­writer’s de­ci­sion shall be fi­nal if there were a dis­pute whether to re­pair or re­place. In the ab­sence of pol­icy def­i­ni­tions of the words “re­pair” and “re­place,” both words may well mean the same thing in a com­mon jar­gon.

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