Krizanich v. Liberty Mutual Fire Insurance

OPINION

FIDEL, Presiding Judge.

This appeal requires interpretation of a binding arbitration clause in an underinsured motorist policy. The policy permits either the insurer or the insured to demand arbitration of disputed underinsured coverage claims. The arbitrators’ decision binds the parties concerning the amount of the insured’s damages if the arbitrators set damages at or below the minimum financial responsibility limits of the state—-in Arizona $15,000. Arizona Revised Statutes Annotated section (“A.R.S. § ”) 28-1102(6). The arbitrators’ decision is nonbinding and either party may…