Arbitration Forums Inc. (AF), which provides inter-insurance company dispute resolution services, announced it had saved insurers more than $700 million in litigation costs annually through its programs.
W. Russ Smith, president and chief executive officer of AF, speaking at the National Association of Subrogation Professionals annual conference, said AF resolves more than 475,000 inter-insurance company disputes annually, with a claim value of over $2.3 billion.
Most inter-company disputes, he noted, involve auto collisions, and typically arise when insurance or self-insured companies believe their insureds are not at fault, or when there are disagreements over the percentage of liability or the amount of damages.
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