Lloyd’s and London’s International Underwriting Association announced they would jointly sponsor “a series of alternative dispute resolution (ADR) clinics to be operated in conjunction with commercial mediation provider, InterMediation,” on a weekly basis, beginning tomorrow.
IUA special advisor David Taylor stated, “Recognizing the substantial cost savings ADR achieves, the idea is to provide accredited mediators, in an informal environment, with whom members can discuss their ideas and requirements for a number of different case types.”
Peter Ashdown-Barr, CEO of InterMediation said he saw the clinics as a “natural evolution” growing out of present initiatives, and that the adoption of ADR measures into claims procedures would be seen as an increasingly viable option. He indicated that the market is beginning to appreciate how ADR can resolve claims more cost effectively, and said that the clinics would increase the availability of alternative procedures.
Introducing mediation to the London market “will soon prove its value in reducing the time and money spent on resolving disputes,” indicated Guy Sutton, CEO of City Disputes Panel.
Topics Excess Surplus Lloyd's
Was this article valuable?
Here are more articles you may enjoy.
AIG’s General Insurance Q3 Underwriting Income Down 29% 
Two Dead at Tampa Office After Man Drove Car into Building and Started Shooting 
Allstate Q3 Net Income Drops About 45% on Higher Catastrophe Losses 
Pennsylvania Public Adjuster Law Adds Cap on Fees, Bans Ties With Contractors 
