CLAIMS ARBITRATION, LEGAL ACTIONS, AND JURY WAIVER. Any disagreement that may persist upon completion of the claims appeal as determined herein, must first be submitted for arbitration. In such cases, the insured and the insurer will submit their difference to three (3) arbiters: Each party selecting an arbiter, and the third arbiter to be selected by the arbiters named by the parties herein. In the event of disagreement between the arbiters, the decision will rest with the majority. Either the insured or the insurer may initiate arbitration by written notice to the other party demanding arbitration and naming its arbiter. The other party shall have twenty (20) days after receipt of said notice within which to designate its arbiter. The two (2) arbiters named by the parties, within ten (10) days thereafter, shall choose the third arbiter and the arbitration shall be held at the place hereinafter set forth ten (10) days after the appointment of the third arbiter. If the other party does not name its arbiter within twenty (20) days, the complaining party may designate the second arbiter and the other party shall not be aggrieved thereby. Arbitration shall take place in Miami-Dade County, Florida, USA, or if approved by the insurer, in the policyholder’s country of residence. The insured and the insurer agree that each party will pay their own expenses in regards to the arbitration. ACCIDENT: Damage, trauma, or injury caused by an external, unexpected, fortuitous, and violent force. Accidents must be notified within seventy-two (72) hours of such event. Events where the first medical attention is not received within thirty (30) days will not be considered accidents. In those cases, the claim will be processed as an illness or ailment. In cases of injury to nose, ligaments, spinal column, knee, and major joints, only those where fracture or rupture, as applicable, or polytrauma is present will be considered accidents.
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Samples: Insurance Policy, Insurance Policy, Insurance Policy