Mediation incentive deductible

{
  "id": "MLC-T-INS-002158",
  "term": "Mediation incentive deductible",
  "field": "Insurance and risk management",
  "definition": "A provision in an insurance policy that reduces the policyholder's deductible if they agree to participate in mediation to resolve a claim dispute. This encourages the use of alternative dispute resolution methods, potentially lowering litigation costs for both the insurer and the insured. The reduction in deductible serves as a financial incentive for engaging in the mediation process.",
  "url": "https://mlchart.com/terminology/insurance/mediation-incentive-deductible/"
}