Arbitration Board

Sec 11 of the Insurance Act 1998 stipulates:

(1) There shall be established within the Office of the Commissioner of Insurance an Insurance Arbitration Board which shall consist of three members: The Commissioner or his representative, a representative of the Insurance Association of Guyana or a successor group representing the insurers, and a broker chosen by the brokers of Guyana through fair means.

(2) Where in relation to a policy, any dispute or difference arises between a policy-holder and an insurer or broker, this dispute shall be arbitrated by the Insurance Arbitration Board.

(3) Decisions of the Insurance Arbitration Board may be appealed to the High Court.

(4) The Insurance Arbitration Board shall conduct arbitrations in accordance with the Arbitration Act.