So sue me! Or not.
When claim disputes arise between insurers, the disagreements can become heated, jeopardizing critical working relationships as the lawyers gear up for battle. For those seeking a more measured (and less expensive) approach, Tampa-based Arbitration Forums, Inc., (AF) offers an alternative. Founded in 1943, the organization helps its member insurers and self-insureds settle claim disputes in meeting rooms, not courtrooms.
President and CEO W. Russ Smith, CPCU, reports that the membership-driven, not-for-profit organization is the largest firm of its kind in the nation, with 4,300 insurers and self-insured members and 5,900 arbitrators. In 2009, it resolved by arbitration over 520,000 inter-insurance company disputes involving $2 billion of contested funds. Disputes leading to arbitration typically arise when insurance or self-insured companies believe their insureds are not at fault or are in disagreement over the percentage of liability or the amount of damages.
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