Overcoming One-Sided Insurance Policy Arbitration Agreements

Risk Management

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PUBLISHED ON: November 4, 2014

In recent years, insurance companies have increasingly included arbitration clauses in their insurance policies and related side-agreements with policyholders. The arbitration clauses, however, often contain conditions that stack the deck against policyholders in a dispute with their insurance companies. Thus, requirements such as arbitrators being ex-insurance industry executives or not being bound strictly to apply the law are increasingly common. Policyholders should be aware that a number of avenues may exist to overcome these one-sided arbitration agreements.