Arbitration Mediation Claims Resolution

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

Claims Resolution

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

Phone call for risk consulting

Leverage the breadth and depth of our education, experience and vision to deliver solutions to you.