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New arbitration rules for DO insurance cases

News / / New arbitration rules for DO insurance cases

The DO broker Howden has developed, together with Arias Germany, new rules especially adapted to German DO cases These new rules for arbitration are presented as an alternative to lengthy Court litigation proceedings on (1) liability and (2) coveragenbsp They are anticipated to lead to full liability and coverage decisions in DO cases in less than 12 months The new rules claim to resolve cases more quickly, cheaply and with minimized reputational damage to the parties involved The main advantage of the new arbitration rules compared to the traditional litigation in Court is that insurer liability as well as insurance coverage are dealt with in one set of proceedings So instead of two separate proceedings, where there is first a long dispute about whether the insurer is liable, followed by a process dealing with if and how much the insurer has to pay, all these matters are dealt with at once As a consequence, expenses for lawyers, assessors and Courts are expected to be reduced for companiesMoreover the judges in the arbitration are to be top-level experts in the relevant fieldWhile this looks to be a positive development, it remains to be seen whether directors, companies and insurers will buy into the new Arias Germany proceedings in order to settle claims more quickly

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