You are currently not signed in. Any products you have purchased will not be available until you Sign In.
For a personalized walk-through of IRMI Online, Request a Demo.

mandatory arbitration provision

A provision in an insurance policy that requires an insured to submit disputes with the insurer (typically as respects the existence of coverage) to arbitration rather than to the traditional judicial system. Arbitration can be advantageous for insureds because it normally expedites the dispute resolution process—on a lower cost basis—compared with court systems. However, arbitration is generally even more beneficial for an insurer, because arbitrators, compared to juries, may be less apt to award large verdicts based upon emotional issues.

Links for IRMI Online Subscribers Only: PLI XXI.E


Social Media

User ID: Subscriber Status:Free