Atlas Construction Co., Inc. v. Indiana Ins. Co.

— This appeal involves the trial -court’s judgment for defendant Indiana Insurance Company, Inc. (insurer) pursuant to Ind. Rules of Procedure, Trial Rule 50 holding as conclusive upon the parties an appraisal award made for the fire loss of plaintiff-appellant (Atlas). The appraisal award was made in keeping with the following provision of a fire insurance policy contract which insured a structure owned by Atlas “to the extent of actual cash value” but not exceeding the cost of repair or replacement:

“Appraisal. In case the insured and this Company shall fail to agree as to the actual cash…