Benefits Of Virtual ADR In Insurance Disputes
There has been a lot of talk lately, and a lot of presentations, about the pros and cons of virtual alternative dispute resolution (ADR)—video arbitrations and mediations.
I recently participated in one such program, but it had a slightly different twist since it was focused on insurance litigation and the insurance industry.
While many of the pros and cons of virtual ADR are generally applicable to a wide range of matters, some have special importance in the context of insurance disputes.
In part, this is because insurance companies are in the business of handling insurance claims and litigation. Unlike many businesses, where litigation may be a rarity, disputed claims are commonplace in the insurance industry.
As a result, the cost and efficiency of handling claims and disputes are critical and can make virtual ADR extremely attractive.