Mediation Agreement

A Mediation Agreement is a legal contract between an insurance company and a policyholder or claimant in which both parties agree to attempt to resolve a dispute through mediation before resorting to litigation or other legal action. Mediation is a form of alternative dispute resolution in which a neutral third party, called a mediator, facilitates communication and negotiation between the parties in order to reach a mutually acceptable settlement. Mediation agreements often specify the rules and procedures for the mediation process, including the selection of the mediator, the confidentiality of the proceedings, and the enforceability of any settlement reached.