This article analyses the possible significance of arbitration in the insurance practice. It will assess the pros and cons of arbitration in the insurance practice. It follows from this assessment that arbitration as a dispute resolution mechanism offers opportunities for insurers, insured and injured parties (Chapter 2).
In Chapter 3 a model will be introduced by means of which it could be ensured that the three parties possibly involved in an insurance dispute (insurer, insured and injured person/claimant) have the legal relationships between them determined by arbitrators in a multi-party arbitration. This model will than be further assessed in the context of the pros and cons of arbitration discussed earlier (Chapter 4).