Marchel & Associates Risk Consulting
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Arbitration & Mediation

Arbitration & Mediation Introduction

Arbitration is a process similar to trial, but less formal. In an arbitration an impartial, qualified third party listens to the disputants, reviews evidence, and renders an opinion. An arbitration may consist of a single arbitrator or a panel of arbitrators.  Civil court rules or the American Arbitration Association (AAA) rules may apply.

The benefits of arbitration are:

  • Binding (usually)
  • Confidential
  • Quicker and cheaper than litigation
  • Arbitrators may have specialized knowledge

 

Mediation is a process whereby an impartial, qualified third party facilitates an exchange among disputants, so that the disputants can reach an informed and mutually agreeable settlement. Mediation is a valuable approach to many disputes which are better settled through negotiation than by litigation.

The benefits of mediation are:

  • Provides an opportunity to deal with underlying needs
  • Provides disputants with a sense of ownership and acceptance regarding their settlement
  • Provides the parties with more control than arbitration or trial
  • Can mitigate tensions and help build an understanding and trust among the disputants

Arbitration & Mediation Closer

Arbitration & Mediation

Arbitration & Mediation Introduction

Photo representing Arbitration & Mediation

Arbitration is a process similar to trial, but less formal. In an arbitration an impartial, qualified third party listens to the disputants, reviews evidence, and renders an opinion. An arbitration may consist of a single arbitrator or a panel of arbitrators.  Civil court rules or the American Arbitration Association (AAA) rules may apply.

The benefits of arbitration are:

  • Binding (usually)
  • Confidential
  • Quicker and cheaper than litigation
  • Arbitrators may have specialized knowledge

 

Mediation is a process whereby an impartial, qualified third party facilitates an exchange among disputants, so that the disputants can reach an informed and mutually agreeable settlement. Mediation is a valuable approach to many disputes which are better settled through negotiation than by litigation.

The benefits of mediation are:

  • Provides an opportunity to deal with underlying needs
  • Provides disputants with a sense of ownership and acceptance regarding their settlement
  • Provides the parties with more control than arbitration or trial
  • Can mitigate tensions and help build an understanding and trust among the disputants

Claims Resolution

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Discerning when an insurance claim is appropriate for mediation or arbitration is as essential as understanding the nature and the scope of the loss.

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