Cathy obtains from Depend Insurance Company a policy that pro?vides that if a dispute arises between the parties concerning the settle?ment of a claim, the dispute must be submitted to an impartial third party, not a court, for resolution. This is

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The policy provision described is an arbitration clause, as it requires that disputes be resolved outside of court through an impartial third party. An antilapse clause ensures that a policy remains in force even if premiums are not paid, an appraisal clause is typically used to determine the value of property damage in a homeowners' insurance policy, and an incontestability clause prohibits an insurer from contesting the validity of a policy after a certain period of time has passed.

Cathy Obtains from Depend Insurance Company a Policy That Pro?vides