Dispute Resolution (Risk Management Magazine)
November 14, 2006
Tuesday, November 14, 2006
Given the continually increasing costs of litigation in terms of money, time and misalloted resources, organizations are increasingly showing a preference towards alternative dispute resolution. Unfortunately, many companies still lack the experience to properly use dispute resolution to their full advantage.
One organization is here to help. The International Institute for Conflict Prevention & Resolution (CPR Institute) has put forth two new tools that should help the less savvy.
The CPR Institute’s International Reinsurance Dispute Resolution Protocol help establish a series of best practices for the often-expensive conflicts that arise between ceding companies and reinsurers. Applicable throughout the world, the protocol stands on the bedrock principle that “such disputes are best resolved promptly, privately and efficiently through confidential negotiation and, if necessary, mediation.”
A second tool offered is the Mediation Principles for Insurer-Insured Disputes. Together with representatives of policyholders,commercial insurers, brokers, coverage counsel and defense counsel, the CPR Institute devised this set of principles to guide orgainzations down the path of mediation.
On top of these two new tools, the CPR Institute offers a wealth of information on all topics related to resolution. Founded in 1979 as the Center for Public Resources, the organization has served as highly regarded industry resource ever since and worked on public policy projects wih companies such as Exxon Mobil, Johnson & Johnson and Nixon Peabody, LLP.
Download a PDF of this Article here
Download a PDF of the Reinsurance Prototol here
Download a PDF of the Mediation Principles here