A high proportion of commercial mediations undertaken by Core’s mediators involve insurers and claims under policies for professional indemnity.
Mediation is a useful tool in this sort of dispute as it allows non-monetary issues to be addressed, as well as the financial claim itself. This can be done privately and without prejudice to any rights of the parties if they do not reach an agreement. Mediation often avoids or reduces the significant financial outlays and expenditure of time and resources which come with prolonged unresolved disputes and litigation. It provides an effective way of assessing and minimising risk.
Mediation can enable acknowledgement of the consequences of a mistake, error or other misfortune to be made, and an explanation given for what happened, and of why liability is or is not accepted. It allows expressions of regret or apology to be made in a confidential setting, and for reassurance to be given that steps have been taken to remedy any systematic failure. Often there is discussion of creative ways to remedy an error or breach and learning for all concerned from the exchange of information, which can be informed by the involvement of experts.
Our clients include a variety of professionals, including surveyors, architects, engineers, accountants and lawyers, along with many insurers and underwriters. Claimants, whether individuals or businesses, in a whole variety of situations have found closure and certainty in the mediation process.
Issues addressed include:
• performance of professional services
• allegations of negligence
• breach of contract
• compensation and other payments
• new contractual arrangements
• restoration of professional relationships