OVER $20 MILLION IN CLAIMS SETTLED ONLINE SO FAR BY INDUSTRY PIONEER CYBERSETTLE.Insurance Companies, Lawyers Go Online To Settle Disputes, Avoid Costly Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Internet-based dispute resolution company Cybersettle.com said last week it had surpassed the $20 million mark for online claims settlements. Since August 1998, more than 2,900 individuals have accessed the Cybersettle system to settle their personal injury and property damage claims. More than 3,500 claims have been processed, with a settlement rate in excess of 50 percent, the company says. "Until now, legal disputes could take years to resolve, with both parties fearful they would lose out on the 'best deal' by revealing their offers or demands too early," says James Burchetta, chairman of Cybersettle.com. "Cybersettle allows both sides to settle claims quickly, cost-efficiently and fairly in a confidential environment." The online claim resolution system offers confidential claims settlement by matching offers and demands via a patent-pending, secure website. Insurance companies, corporations, government agencies, attorneys and claimants can resolve disputes instantly, 24-hours a day, 7-days a week using the system. Cybersettle.com, is headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , with offices in Chicago, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Miami, Bermuda, Paris, Toronto, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , and London. |
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