English to Italian Law/Patents Insurance Assicurazione esposizioni

Arbitration Clause
In the event that the Insured and Underwriters fail to agree as to the level of depreciation applying to the agreed value following damage and restoration, the same shall be ascertained by two competent and disinterested appraisers, the Insured and Underwriters each selecting one, and the two so chosen shall first select a competent and disinterested umpire.
The appraisers together shall then estimate and appraise the amount of loss and failing to agree, shall submit their differences to the umpire.
The award in writing of any two of these three shall determine the amount of the loss.

La clausola è contenuta in un Certificato di assicurazione per esposizioni di opere d'arte e articoli simili.