Bjorg applies for a life insurance policy to be issued by Credible Insurance Inc. If a dispute arises between the parties concerning the settlement of a claim, the insurer wants the dispute to be submitted to an impartial third party, not a court, for resolution. Under an arbitration clause, this would be

Question

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Arbitration clauses in insurance contracts are common and enforceable. They require disputes to be resolved through arbitration rather than through court litigation, providing a mechanism for dispute resolution that is often faster and less costly.

Bjorg Applies for a Life Insurance Policy to Be Issued