Discussions about a new arbitration program designed to more efficiently resolve inter-insurer disputes over construction defect claims were recently held between two major associations.
The first meeting on this program was a joint project undertaken by Arbitration Forums Inc., a major arbitration group representing insurers, and the Construction Defects Claim Managers Association.
“If carriers resolve the underlying case and agree to arbitrate–rather than litigate–their differences, the time, effort and expense associated with these cases could be reduced significantly,” W. Russ Smith, president and chief executive officer of Tampa, Fla.-based Arbitration Forums, said in a statement.
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