The International Underwriting Association (IUA) and Lloyd's are running a series of clinics to promote alternative dispute resolution (ADR) in the London Market.
Workshops will be held by specialists in the market on a weekly basis in conjunction with commercial mediation provider Intermediation. They will alternate between a venue in Lloyd's and the IUA offices in Minster Court to illustrate how ADR can reduce the amount of time and money spent on resolving disputes.
The clinics, which make up the next stage of Lloyd's and the IUA's “market mediation initiative”, follow several recent ADR awareness events, includ-ing mock mediations. It is being supported by nine leading law firms specialising in the area, including Baker & McKenzie, Clifford Chance, Ince & Co and Norton Rose, plus the City Disputes Panel, an independent dispute resolution body sponsored by Lloyd's.
David Taylor, special advisor at the IUA, said: “Recognising the substantial cost savings ADR achieves, the idea is to provide accredited mediators, in an informal environment, with whom members can discuss their ideas and requirements for a number of different case types.”
Peter Ashdown-Barr, chief executive officer of Intermediation, believes the clinic will be regarded as an evolution from such initiatives in the market and a step towards integration of ADR options into claims procedures.
“The market is beginning to appreciate how it can benefit from using means of resolving claims more cost effectively,” he said. “This facility discusses the requirements of members in different cases and looks at how ADR might be used in practice.”