Adopted by the Stockholm Chamber of Commerce and in force as of
1 April 1999
FOREWORD
The Insurance Arbitration Rules of the Arbitration Institute of
the Stockholm Chamber of Commerce (the Insurance Rules) aim at
rendering the settlement of insurance and reinsurance disputes more
effective.
The applicability of the Insurance Rules presupposes an
agreement to that effect between the parties. Such agreement to
arbitrate could either be included in a contract or insurance
policy in the form of an arbitration clause, or laid down in a
separate agreement, concluded once the dispute has arisen. If the
parties so agree, the Insurance Rules may also apply in
arbitrations in areas other than insurance.
The Insurance Rules offers flexibility by incorporating both the
Rules of the Arbitration Institute of the Stockholm Chamber of
Commerce (the Rules) and the Rules for Expedited Arbitrations (the
Expedited Rules).
If the parties have not agreed otherwise, the latter will apply
unless the SCC Institute, taking into account the complexity of the
case, the amount in dispute and other circumstances, determines
that the SCC Rules shall apply.
In addition to offering its accumulated experience in
administering international arbitrations, the Board of the SCC
Institute when dealing with cases under the Insurance Rules will
include members appointed particularly for their experience and
expertise in the insurance field.
INSURANCE ARBITRATION RULES
Article 1
Introductory Rules
The Rules of the Arbitration Institute of the Stockholm Chamber
of Commerce ("the SCC Rules"), Appendix 1, and the Rules for
Expedited Arbitrations, ("the Expedited Rules"), Appendix 2, shall
apply with the amendments and modifications set forth in Articles 2
and 3 below.
Article 2
The Composition of the Board, etc
When handling cases under the Insurance Rules, the Board of the
SCC Institute shall be composed of eight members who shall be
appointed for a period of three years by the Board of Directors of
the Stockholm Chamber of Commerce. The Board of Directors of the
Stockholm Chamber of Commerce shall appoint a Chairman and Vice
Chairman among the members of the Board of the SCC Institute. The
Chairman and Vice Chairman shall be lawyers. Three of the members
shall represent the insurance industry and three shall represent
the policyholders.
The Chairman or Vice Chairman and two other members shall form a
quorum. When a vote is to be taken an equal number of members
representing the insurance industry and the policyholders,
respectively, shall take part. If no majority is attained, the
chairman shall cast the deciding vote.
Article 3
Applicable Rules
Unless the parties have agreed otherwise the arbitration
proceedings shall be conducted in the following manner. The
Expedited Rules shall apply unless the SCC Institute, taking into
account the complexity of the case, the amount in dispute and other
circumstances, determines that the Rules shall apply. In the latter
case, the SCC Institute shall also decide whether the arbitral
tribunal shall be composed of one or three arbitrators.