A business may be facing a product liability claim if one of their products has proven defective and has injured an individual. However, there are three types of product liability claims.
If the negligence of one party results in the death of another, the family of the victim may file a wrongful death claim. Typically, their goal is to gain compensation for various expenses such as medical bills or funeral costs as well as pain and suffering.
The typical method of resolving a dispute in the insurance community would be litigation. However, for folks looking for an alternative to litigation, arbitration has become quite common. Why is this and what are the potential benefits of pursuing arbitration?