Donovan obtains from Equity Insurance Company a policy that provides that if the parties cannot agree on the amount of a loss covered by the policy,an estimate of the value by an impartial third party can be demanded. This is

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The policy provision in question is an appraisal clause, which allows for an impartial third party to be brought in to estimate the value of a loss when the parties cannot agree. An antilapse clause prevents a policy from lapsing due to non-payment of premium, an arbitration clause sets forth a process for resolving disputes, and an incontestability clause limits the period of time during which an insurer can challenge the validity of a policy.

Donovan Obtains from Equity Insurance Company a Policy That Provides