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American Arbitration Association-International Centre for Dispute ResolutionMar 07, 2022, 09:08 ET
NEW YORK, March 7, 2022 /PRNewswire/ --Two years into the COVID-19 pandemic, the American Arbitration Association-International Centre for Dispute Resolution® (AAA-ICDR®) has continued to provide uninterrupted alternative dispute resolution (ADR) services for parties involved in business-to-business (B2B) cases. In 2021, when the AAA-ICDR marked the 95-year anniversary of its founding, the organization served as ADR facilitator for 9,196 B2B cases encompassing approximately $15.3 billion in claims.
Some of the largest claim amounts by industry include energy ($498 million), technology ($400 million), commercial insurance ($400 million), life sciences ($300 million), and telecommunications ($190 million) also accounted for significant claim awards. In addition, the AAA-ICDR experienced a 50% increase in its education industry caseload in 2021, along with a 22% rise in technology B2B cases and a 12% increase in telecommunications B2B cases.
"For more than 95 years—spanning a wide range of economic conditions and geopolitical developments—we have been at the forefront of advancing arbitration and mediation as viable alternatives for resolving disputes," said India Johnson, President and CEO of the American Arbitration Association-International Centre for Dispute Resolution. "Our B2B caseload data shows that, during another transitional year, we were able to rally and ensure that parties could reach equitable conclusions to their disputes—regardless of whether they needed in-person or virtual services—quickly and efficiently."
To view an in-depth breakdown of the AAA-ICDR's 2021 caseload, please click here.
The AAA-ICDR also continued pursuing its efforts to strengthen diversity and inclusion in the ADR field. The percentage of women and racially and ethnically diverse members in the organization's roster of arbitrators continues to increase year over year, rising to 29% last year, while 32% of arbitrators selected by parties to oversee cases in 2021 met AAA-ICDR diversity criteria.
About the American Arbitration Association
The not-for-profit American Arbitration Association® (AAA®) is the leading provider of alternative dispute resolution (ADR) services for parties in commercial disputes, having administered more than seven million ADR cases since its founding in 1926. With 26 offices in the United States, in addition to Mexico, Singapore, and Bahrain, the AAA provides organizations of all sizes in virtually every industry with ADR services and products. For more information, visit www.adr.org.
About the International Centre for Dispute Resolution
The International Centre for Dispute Resolution® (ICDR®) is the international division of the American Arbitration Association (AAA) and the largest international provider of dispute resolution services. Established in 1996, the ICDR serves parties from over 100 countries with multilingual staff experienced in international dispute resolution proceedings, and a roster of over 725 arbitrators and mediators. For more information, visit www.icdr.org.
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SOURCE American Arbitration Association-International Centre for Dispute Resolution
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