Alternative Dispute Resolution

Alternative Dispute Resolution
In an insurance sense, a number of disparate processes used by insurance companies to resolve claim and contractual disputes. Insured clients who are denied a claim are offered this course of action as a form of recourse. Alternative dispute resolution is employed to avoid expensive and time-consuming litigation and arbitration.

Alternative dispute resolution can take many forms. Examples of this type of resolution are non-binding arbitration and simple, direct negotiation between the insured and the carrier. In some cases, a neutral third party can be brought in to act as a mediator, if necessary.

Investment dictionary. . 2012.

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