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Mediation - A Rival To Arbitration In Reinsurance Disputes?

Publication: Mondaq Business Briefing
Publication Date: 31-OCT-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
By Peter Mann and Raymond Giblett

Key Point

Reinsurers must be fully informed about all aspects of the dispute resolution process before they choose to include clauses restricting a party to any particular means of dispute resolution.

It has been said that arbitration "antedates all the former legal systems".1

. Originally used by merchants and traders in medieval times, arbitration's growth in the last 15 years has hinged on the business community's recognition that it provides a flexible and effective alternative to costly and time-consuming litigation. However, despite this, there is at times a perception that arbitration is increasingly imitating traditional court procedure, and recognition that the courts often recommend or require mediation prior to a court hearing.2 As a result, business is increasingly opting for alternative means of dispute resolution such as mediation and expert determination.

Insurance arbitration

An example of this is in the context of reinsurance. Arbitration is a common method of dispute resolution in the insurance industry, particularly in relation to reinsurance disputes. While the use of compulsory arbitration clauses in contracts of direct insurance is curtailed by section...

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