mediation incentive deductible
A mediation incentive deductible provision features a reduced deductible amount and is offered within some lawyers professional liability policies.
Additional Information
It is available to firms requiring their clients to sign agreements stating that the client must use alternative dispute resolution (ADR), rather than the judicial process, if the client pursues a claim against the firm. The rationale for this provision is that both indemnity and defense costs will generally be lower when claims are settled by mediation compared to the traditional judicial system.
