§ 27-20.6-5 - Arbitration. - Rhode Island Statutes

SECTION 27-20.6-5

   § 27-20.6-5  Arbitration. – (a) Whenever there exists a dispute between insurers under the provisions ofthis chapter, the dispute shall be submitted for resolution to an impartial,independent arbitrator who has no affiliation with either party to the dispute.The arbitrator shall be mutually agreed upon by the parties to the dispute. Inthe event that no mutual agreement can be reached, the arbitrator shall beappointed by the director of the department of business regulation from thelist established under subsection (b) of this section. The fees of thearbitrator shall be paid by the losing party.

   (b) The director of the department of business regulationshall establish a list of authorized arbitrators, each of whom shall be amember in good standing of the Rhode Island Bar Association, for use pursuantto the provisions of this section.