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Insurers and reinsurers who believe that the current system of reinsurance arbitration represents a more efficient way of resolving reinsurance claims find themselves at a disadvantage because of inequities and ambiguities in the U.S. system. As a result, many questions are arising about the current practices in arbitration when instead there should be a greater emphasis on neutral, impartial arbitrators and more meaningful documentation of opinions.

Many insurance and reinsurance companies currently are strained under a large increase of reinsurance arbitration cases. A half century ago, an insurer and reinsurer rarely headed to arbitration because a we-can-work-it-out attitude prevailed. If one of the parties was concerned about an issue, a trip to the backroom or someone’s office often resolved the problem. That all changed when claim levels rose. Given the sizeable claims and litigious nature of many business transactions, there’s no sign of declining opportunities for reinsurance arbitration.

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