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Granite Law Group Obtains $50K Award During Arbitration Hearing
The Granite Law Group is happy to report that we have obtained an award of $50,000 during an arbitration hearing. The award maxed out the underlying insurance policy.
Arbitration is a binding, informal “mini-trial” which is conducted at one of the party’s law offices in front of a neutral party who assigns responsibility and assesses damages. Attorney Joe Russo , who handled the arbitration, remarked: “arbitration is often favorable to a jury trial in that there is more predictability over the outcome with a neutral fact finder who is well versed in civil litigation as opposed to a collection of 12 jurors who have never sat on a jury before. Jurors typically don’t know what to expect from a trial and find the task of placing a value on damages to be a very foreign concept.”
There are two types of alternative dispute resolution (ADR) methods: mediation and arbitration. In New Hampshire, the parties are required to enter into mediation before a trial is commenced, but arbitration is voluntary. In this case, the parties opted to arbitrate a couple of weeks before trial.