New Arbitration Forums Program Introduced
Arbitration Forums Inc. has introduced an electronic filing program for small-dollar auto physical damage claims that it promises will make the inter-company arbitration process much quicker and easier.
The "E-Speed Filing Program" is a high-speed electronic filing program for auto liability and damage issues, according to Tampa-based AF, a not-for-profit provider of inter-company insurance dispute resolution services.
AF noted that E-Speed filing does not replace its current auto arbitration program.
Under the new program, the time from date of filing to payment of the award amount will be 40-days, compared to the 112-day average for all other AF programs, the firm said.
The program is designed for simple two-car accidents with damages not to exceed $2,000. More than 40 percent of the current 270,000 auto physical damage arbitration cases handled by AF each year qualify for the new program, the firm said.
All decisions in the E-Speed Filing Program will be rendered within 30-days. The decisions will be final and binding.
Founded in 1943, AF has a membership of more than 2,500 insurers and self-insureds nationwide.
Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, June 11, 2001. Copyright 2001 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.
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