Mediation Services
Mediation Services
Mediation is an informal way to resolve a claims dispute between the policyholder and the insurance company. It is a process where a neutral third party acts to encourage and assist in the resolution of a dispute without dictating the outcome. The insurer must provide a representative with full authority to settle the claim at the mediation conference. The conference should be held at a location near the policyholder residence.
The policyholder and the insurer shall attend the mediation conference, have full knowledge of the facts of the dispute, and be fully authorized to make an agreement to completely resolve the claim. An insurer will be deemed to have failed to appear if the insurer’s representative lacks authority to settle the full value of the claim. The authority to settle the claim includes the ability to disburse the full settlement amount within 10 days of the conclusion of the conference.
Mediation is non-binding. Neither the policyholder nor the insurance company is legally obligated to accept the outcome of the mediation conference. Coastal Claim Consultants has a proven track record of resolving claims through mediation. It can be an invaluable tool to a policyholder with the right representation to afford an opportunity for an insurance carrier to resolve their claim with no out of pocket expenses to the insured.
