Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Law
The British Approach To Consumer Financial Disputes: A Model For Reform In Insurance Law And Beyond, Daniel Benjamin Schwarcz
The British Approach To Consumer Financial Disputes: A Model For Reform In Insurance Law And Beyond, Daniel Benjamin Schwarcz
Daniel Benjamin Schwarcz
Much of insurance law and regulation is concerned with compensating consumers who have been wrongly denied coverage. But policyholders nonetheless have relatively few realistic options for challenging an insurer’s adverse coverage determination. Litigation is often too slow and costly for those who have recently suffered significant financial loss. Meanwhile, the alternative dispute resolution options that do exist – such as the mediation services that insurance regulators offer or the existing variants of insurance arbitration – are generally either ineffective or unavailable for most disputes. This Article proposes a new way forward by looking to the United Kingdom’s innovative Financial Ombudsman …