AIC 32 - CHAPTER 10 - SETTLING LIABILITY
CLAIMS QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) ||ALREADY
GRADED A+||NEWEST VERSION
QUESTIONS AND ANSWERS
Process of negotiation. ANSWER -Communication, preparation, evaluation, and power
Alternative dispute resolution (ADR). ANSWER -Procedures to help settle disputes
without litigation, including arbitration, mediation, and negotiation
Mediation. ANSWER -An alternate dispute resolution method by which disputing parties
use a neutral outside party to examine the issues and develop a mutually agreeable
settlement.
Steps of the Mediation Process. ANSWER -1. Selecting the mediator
2. Preparing for mediation
3. Making opening statements
4. Presenting evidence
5. Negotiating
6. Concluding the mediation
Claims not suitable for mediation-. ANSWER -Claims involving coverage disputes, those in
which one party is adamant that is gets its day in court, or those involving fraud
Caucus. ANSWER -A private meeting with the mediator away from the opposing party
Mediator. ANSWER -A person who acts as a referee to the parties in a dispute and can
even assist in negotiating issues such as chiropractic and medical treatment fees
, Telemediation. ANSWER -When the mediator works with the parties in dispute to help
then facilitate a negotiation over the phone. This is useful only when a few issues are in
dispute
Arbitration. ANSWER -An alternative dispute resolution method by which disputing
parties use a neutral outside party to examine the issues and develop a settlement, which
can be final and binding
Binding arbitration. ANSWER -Requires the parties to an arbitrated dispute to accept the
arbitrators decision
Non-binding arbitration. ANSWER -A practice in which neither party is forced to accept
the arbitrator's decision; however, the decision provides the winner with leverage for future
negotiations
High-low agreements. ANSWER -Agreements in arbitration stipulate that no matter what
the arbitrator decides, the insurer will not pay more than the high specified amount and the
claimant will not receive less than the low specified amount. The high and low are decided
in advance and expressed as a range
Baseball arbitration. ANSWER -A process in which each side presents it's case to the
arbitrator along with its final, realistic monetary offer. The arbitrator weighs the facts and
evidence presented, then chooses one of the two figures.
Structured settlement. ANSWER -An agreement in settlement of a claims involving
specific payments made over a period of time
Settlement agreement. ANSWER -An oral or a written contract by which parties
compromise a disputed matter. Often a release document is included with the agreement
Release. ANSWER -A settlement agreement in a liability claim. Normally a written
document that stipulates the terms of the settlement agreement, obligates each other to
fulfill the agreement, and release both parties from further obligation to one another that
relates to the dispute
CLAIMS QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) ||ALREADY
GRADED A+||NEWEST VERSION
QUESTIONS AND ANSWERS
Process of negotiation. ANSWER -Communication, preparation, evaluation, and power
Alternative dispute resolution (ADR). ANSWER -Procedures to help settle disputes
without litigation, including arbitration, mediation, and negotiation
Mediation. ANSWER -An alternate dispute resolution method by which disputing parties
use a neutral outside party to examine the issues and develop a mutually agreeable
settlement.
Steps of the Mediation Process. ANSWER -1. Selecting the mediator
2. Preparing for mediation
3. Making opening statements
4. Presenting evidence
5. Negotiating
6. Concluding the mediation
Claims not suitable for mediation-. ANSWER -Claims involving coverage disputes, those in
which one party is adamant that is gets its day in court, or those involving fraud
Caucus. ANSWER -A private meeting with the mediator away from the opposing party
Mediator. ANSWER -A person who acts as a referee to the parties in a dispute and can
even assist in negotiating issues such as chiropractic and medical treatment fees
, Telemediation. ANSWER -When the mediator works with the parties in dispute to help
then facilitate a negotiation over the phone. This is useful only when a few issues are in
dispute
Arbitration. ANSWER -An alternative dispute resolution method by which disputing
parties use a neutral outside party to examine the issues and develop a settlement, which
can be final and binding
Binding arbitration. ANSWER -Requires the parties to an arbitrated dispute to accept the
arbitrators decision
Non-binding arbitration. ANSWER -A practice in which neither party is forced to accept
the arbitrator's decision; however, the decision provides the winner with leverage for future
negotiations
High-low agreements. ANSWER -Agreements in arbitration stipulate that no matter what
the arbitrator decides, the insurer will not pay more than the high specified amount and the
claimant will not receive less than the low specified amount. The high and low are decided
in advance and expressed as a range
Baseball arbitration. ANSWER -A process in which each side presents it's case to the
arbitrator along with its final, realistic monetary offer. The arbitrator weighs the facts and
evidence presented, then chooses one of the two figures.
Structured settlement. ANSWER -An agreement in settlement of a claims involving
specific payments made over a period of time
Settlement agreement. ANSWER -An oral or a written contract by which parties
compromise a disputed matter. Often a release document is included with the agreement
Release. ANSWER -A settlement agreement in a liability claim. Normally a written
document that stipulates the terms of the settlement agreement, obligates each other to
fulfill the agreement, and release both parties from further obligation to one another that
relates to the dispute
