While I have written previously about the use of “Med-Arb”, the concept of binding mediation was foreign to me until recently. I read an article written by Peter Gene Merrill entitled “Binding Mediation: The Time Has Come for This ADR Process.” The process is quite simple as described by Mr. Merrill:
“Binding mediation commences with a standard mediation process. Should the parties reach impasse any issue(s) through the standard mediation process, the mediator will be called upon to make a final and binding decision that will settle the unresolved issues.”
Binding mediation is a concept that should be attractive to both insurance companies and plaintiffs’ lawyers alike. This process seems perfectly suited for the smaller damage personal injury cases to save the costs and expenses with either arbitration or a court proceeding. I can also envision this process working well in smaller, less complicated workers’ compensation claims.
This process may not be appropriate in every situation but it is absolutely something to consider. Binding mediation is a tool that I am adding to my list of services. If you have any questions, please let me know.