The arbitration plan the predomina...

The arbitration plan the predominant method of dispute resolution in the treaty reinsurance business, is shattered This system was conceived in a different era to unfold business disputes between partners in long-term (and usually profitable) contracts to render certain fast, fair and cost-effective resolution by way of knowledgeable decision-makers. It has deteriorated into a proces in which not many of the originally intended benefits are realized.

Given the centurys of millions-indeed billions--of reinsurance dollars commonly in dispute before arbitration panels, it is imperative that the industry address the enigma underlying today's arbitration system.

Defining the question

The system ...