Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
Latest activity
Earn Money
Review Website/Apps
Passive Income
Money apps
Paid Survey
Stock
Forex
Real estate
Paid to write
Social Media Monetization
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Personal loan
Retirement
Debt help
Savings for Students
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Insurance Forums
What is Arbitration?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="Mataracy, post: 140831, member: 28733"] Though this condition or principle will be dealt with under claims dispute, as an important condition in every policy of insurance, it is expedient to discuss it briefly here. Dispute often arise between the insured and the insurer on the amount payable for a loss. This dispute does not normally result from claim repudiation but purely on amount of claim offered by the insurer. It has therefore becomes a doctrine to insert in every policy of property insurance to contain arbitration condition. This condition precludes or prevents the insured from taking a claim dispute to court but to first exhaust the arbitration condition. Insurer prefer arbitration to the law courts because of the following: (a) Proceedings are conducted in private hence personal or confidential matters do not become the subject of newspaper comment as is the case in court cases. (b) It is less expensive (c) Proceedings are less formal. (d) proceedings are more speedy and free from adjournments as the case in court (e) Negative publicity which may affect patronage is avoided. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Insurance Forums
What is Arbitration?
Top