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You want to know how arbitration works in insurance settlements. Hi, I'm Robert Todd,
and I'm here to tell you how arbitration works in insurance settlements. First of all, arbitration
is not to be confused with mediation. Arbitration is whereby the insurance company selects an
arbitrator or a panel of arbitrators who are third part, third persons who do not know
anything about the case, and when the arbitrator or panel of arbitrators are selected a arbitration
hearing date is scheduled. At the arbitration hearing the parties put on evidence. You will
be entitled to put on evidence of your claim. The insurance company will be entitled to
put on evidence of their defense of that claim. And then, the arbitrator or arbitrators will
make a decision. It's binding and final. It does save cost, time, and money in terms of
being able to bypass the court system, but it is a binding decision. So, that's how arbitration
in insurance settlements works. I'm Robert Todd, and thank you for watching.