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The cost of litigation (or traditional arbitration) is prohibitively high, the time to resolution is unacceptably long, and expertise is rare. Look at this Insurance case.Average Time To Resolve a Coverage Dispute Through Litigation in Court............... 19 months
Average Legal Fee Expenditure Per Party to Litigated Coverage Dispute..........................$42,344 Years of insurance coverage experience of average state court judge...............................1.3 years Compare ArbItRite®Average Time from Submission to Decision by ArbItRite®Neutral……..... 12 Days
Fee per dispute..................................................................................................................................... $25,000…... ($12,500/party) Average insurance Coverage Experience of ArbItRite®Neutral................. 23 years |