The use of alternative dispute resolution mechanisms for insurance and reinsurance has become a growing practice in Latin America.
In particular, arbitration has been widely accepted as offering flexibility, celerity and high qualified and specialized arbitrators, generating confidence, guaranteeing access to the administration of justice and relieving congestion in the ordinary jurisdiction Arbitration regulations in Latin America are not standardized within its different jurisdictions, as each country has determined their own rules governing this dispute resolution mechanism.
On the other hand, in international matters there is a greater degree of homogeneity as a result of the efforts of international commissions to modernize and harmonize international trade rules.
Herein, the readers will find a comparison of general aspects of the regulations of arbitration as a dispute resolution mechanism regarding (re)insurance matters within the region.
Download the report: 2020 (Re) Insurance Arbitration in Latin America