Arbitration vs. Litigation
In today’s complex, global insurance environment, disputes are an unavoidable part of doing business. What distinguishes the insurance and reinsurance industry in this regard is the importance – in fact the necessity – of maintaining long-term relationships that endure beyond the outcome of the disagreements. Arbitration provides the vehicle to accomplish this in a professional manner by allowing the specific issue in dispute to be considered by industry experts. These experts have vast experience in transactions that include contract interpretations, collection of reinsurance recoverables, coverage disputes between cedants and re-insurers, MGA agreements, liquidation issues, etc. The experts knowledgably weigh the evidence provided and offer a resolution based upon that evidence.
Arbitration for Enduring Relationships
The real purpose of arbitration in the insurance and re-insurance arena is to “seek the truth” and determine fair and equitable resolution to disputes in a faster, more cost-effective manner than litigation. The real benefit to arbitration in the insurance industry is to bring about that resolution in a manner that sustains long-term, enduring relationships.
Leatzow & Associates has the knowledge, integrity, and experience to assist in this process.