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By: ________
Dear Sir/Madam,
RE: REJECTION OF SETTLEMENT OFFER — INSURANCE CLAIM NO. ________
POLICY NO. ________
I refer to your offer dated ________ and to my claim under the above policy of insurance.
1. The Offer
Thank you for your recent offer of $________ (________) in respect of the following item(s):
________
(hereafter the "item(s)").
2. The Incident
The item(s) were stolen on ________ in the following circumstances:
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The incident was reported to ________ and assigned police report/event number ________.
3. Independent Valuation
Since receiving your offer, I have obtained an independent valuation of the item(s) from ________ dated ________, which determines that the market value of the item(s) at the time of the above incident was $________ (________). A copy of that valuation is enclosed for your reference.
4. Rejection of Offer
In light of the enclosed valuation, I regret to advise that I am unable to accept your offer, as I consider it does not adequately reflect the true market value of the item(s) or the basis of settlement provided for under the policy. Accordingly, I respectfully reject your offer and request that you reconsider your position and make a revised offer of $________ (________), being the amount that properly reflects the market value of the item(s) as set out above.
5. Insurer's Obligations
6. Dispute Resolution
7. Response
I look forward to hearing from you within 14 days of the date of this letter. Should you require any further information or documentation in order to assess this matter, please do not hesitate to contact me using the details set out above.
Yours faithfully,
_______________________________
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Enclosure(s): ________
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