GREAT NECK, N.Y., Aug. 3 /PRNewswire/ -- NAM CORP. (Nasdaq: NAMC - news) announced today that its subsidiary, clickNsettle.com, the electronic settlement service, has added one of the world's top ten international property and casualty insurers, Royal & SunAlliance, to its list of clients. clickNsettle.com offers an alternative to traditional litigation by providing litigants with the ability to settle cases via the Internet. The service, with patent pending, can be accessed globally 24 hours a day, 7 days a week.
Mike Pizetoski, Claims Manager at Royal & SunAlliance in Hauppauge, New York, said: ''We have worked with NAM for a number of years. They are a technologically innovative company and the development of clickNsettle.com is a true testament to that. Any tool that helps us settle claims quickly and inexpensively is a tool we want to incorporate into our settlement strategy.''
The Empire Insurance Group (which includes the Empire, AllCity and Centurion Insurance Companies) agrees. Says Scott Conant, Senior Vice President Claims/Legal, ''NAM is the sole provider of our Company's arbitration and mediation services and our program is very successful. Their new Internet program, clickNsettle.com, has unlimited potential and the flexibility of being able to settle claims at any time of the day or night is a particular benefit.''
In addition to these companies, clickNsettle.com has recently signed up several large law firms, including Sanders, Sanders, Block & Woycik, the largest personal injury firm in Nassau County, New York. According to Senior Partner Stanley Sanders, ''clickNsettle.com provides our firm with access to reports and statistics that were previously unavailable. The time savings alone represents a significant benefit to our firm. The fact that it is a NAM product and that they are the leading provider of arbitration and mediation services simply enhances its applicability.''
Roy Israel, Chairman and CEO of NAM, added, ''We are pleased that these companies have joined the clickNsettle.com client roster. The fast acceptance of the program is further indication that it is recognized as a cost effective alternative for settling lawsuits.''
clickNsettle.com utilizes a format that allows disputing parties to enter ''blind'' and confidential offers and demands, via the Internet, to settle cases. The service provides disputants with the ability to negotiate a case with their adversary without actually ''tipping their hand'' about what amount they would accept for settlement. The demands and offers are secure and only the final settlement amount is ever revealed. This ensures that neither party loses any bargaining power in the event the case does not settle. Parties utilizing clickNsettle.com agree by mutual consent to be legally bound by all terms, conditions and provisions of the Negotiation Agreement and understand that it constitutes a valid legal contract. Cases may be submitted by both claimants and defendants.
NAM Corporation -- the national provider of arbitration and mediation services and electronic case management software -- is the parent company of clickNsettle.com. NAM also provides arbitration/mediation services and related proprietary software. Headquartered in Great Neck, New York, NAM maintains Hearing Officer rosters and conference facilities nationwide. |
