The Canadian Inter-Company Arbitration Agreement

1 IBC Claims Agreements 2 Note that all claims may move to arbitration proceedings with the agreement of all parties involved. 3 For more details on the exceptions are Article 4 Article Seventh, Arbitration Rules and Regulations preamble 5 CICMA/ACDSA Inter-Company Arbitration Statement PDF 6 Arbitration Act, s.6 7 Vervaecke v. Hancock, 1984 CarswellOnt 686 (Ont. Co. Ct.) at Para 18 8 2014 2014 NBQB 1, [2014] I.L.R. I-5554, 1075 A.P.R. 386, 236 A.C.W.S. (3d) 290, 414 N.B.R. (2d) 386 While the purpose of the agreement is to limit legal costs and to be a more effective means of repairing damages among the signatory insurers, the process clearly represents the efforts necessary to effectively communicate its position. In order to proceed with the arbitration process, the applicant and the respondent must participate in pre-conciliation discussions.

Pre-arbitration procedure, as defined, is a debate among employee executives of controversial companies, and it must be duly taken into consideration. The applicant is the company that imitates the procedure. They apply for conciliation by filling out seven copies of the Inter Company Arbitration Statement (ICAS) and distributing as follows: one is retained by the applicant company, five are forwarded to the principal representative of the defendant insurer and one copy is sent to the arbitration headquarters with the filing fee and four copies of the corresponding documents. The statements submitted by the applicant contain the following information: the name of the plaintiff and the defendant company, as well as the names and addresses of local representatives who monitor the case on a case-by-case basis; The names of the insureds concerned, both the plaintiff and the defendant; number of the applicant`s and respondent`s claim file; The types of insurance coverage under the applicant`s insurance policy and, if applicable, the defendant`s insurance policies subject to the insurance obligation; The date and location of the accident, damage or other insured event The amount of the company`s debt and the amount of the insured`s applicable deductible interest; A statement outlining all outstanding litigation and its proposed disposition; a certificate stating that the resolution efforts were unsuccessful and that the entity interviewed had agreed to mediate; A brief explanation of the allegations about the controversy alone; The signature of the applicant`s representative and the signed date; and a diagram showed how the accident occurred. Arbitration has been very advantageous. The procedure allows for a speedy resolution of disputes between insurers and long legal delays are eliminated. Insurance policyholders, drivers and witnesses do not have to appear before the panel to provide evidence, so the insured public is not uncomfortable. It is a cost-effective and proven way to resolve disputes between companies. This procedure also applies to counter-claims. The ICAS should make it clear that it is being filed as a counter-action and the initial arbitration to which it relates must be identified. All signatories to the agreement will pursue their claims with a mandatory and legally binding form of out-of-court dispute settlement, known as arbitration.