Glossary of Joint Resolution Terms
Case ID - A Case ID is the unique identifying number which JRL/Cybersettle assigns to a case submitted by one of the parties.
Created Date - Created date is the date upon which a party submits case information to JRL/Cybersettle and that information is entered on the system.
Date of Loss - The date of loss is the date of the incident for which the claimant is seeking compensation. Date of loss assists the parties in identifying the underlying case. Note: there will be no Date of Loss for Commutations.
Demand - A demand is the amount the reinsured party would be willing to accept to resolve the claim. A case will not settle for less than the demand amount in that specific round.
Edit - To Edit a case is to change one or more pieces of information included in the submission. A case may only be edited only until the opposition party engages the JRL/Cybersettle case.
Facilitation - Facilitation is an iteration of the JRL/Cybersettle process with a facilitator standing in the place of the computer. Facilitation helps to reduce the time it takes to bring both parties to mutually agreeable number.
Facilitator - A facilitator is a person who works with the parties separately to reach a mutually agreeable number. The facilitator keeps the offers and demands confidential unless one of the parties gives the facilitator authority to reveal that party's offer/demand to the opposition.
Facilitation Bids - Facilitation bids are confidential numbers given to the facilitator in an attempt to resolve the claim. They can be either offers or demands.
Offer - An offer is the amount the reinsuring party would be willing to pay to resolve the claim. A JRL/Cybersettle case will never settle for an amount above the offer presented in a specific round. A case will only settle if the offer is equal to or greater than the demand presented in that round.
Opposition - The opposition is the party to whom a JRL/Cybersettle case is directed.
Pending - A Pending case is one for which the submitting party has not yet entered offers or demands. A responding party is not able to respond to a pending case on the JRL/Cybersettle system.
Resubmit - To resubmit a case is the process of renewing offers/demands on a JRL/Cybersettle case after three, six, nine, etc. rounds have been completed with no settlement.
Rounds – A Round is a segment of the bidding process comprised of a Demand and an Offer to settle. Parties are invited to Re-bid if the case does not settle after a Round. If the case does not settle after three Rounds, the parties are invited to consider Facilitation or Expedited Arbitration as alternatives to continuation of bidding Rounds.
Submitted Case - A submitted case is one that is available for opposition response. Either side to a dispute may submit a case on JRL/Cybersettle in an effort to settle.