Which statement is true regarding arbitration in insurance cases?

The statement that arbitrators have expertise compared to juries is true in the context of arbitration in insurance cases. Unlike juries, which are composed of laypeople selected from the general public with no formal training or specialized knowledge of the subject matter, arbitrators are typically professionals who have specific expertise in the field relevant to the disputes being resolved. This expertise can include knowledge of insurance law, policy terms, and industry practices. As a result, arbitrators are generally better equipped to understand the complexities of insurance cases and to make informed decisions based on that understanding.

This characteristic of arbitration contributes to its appeal as a dispute resolution mechanism, particularly in specialized fields like insurance, where the nuances of contracts and regulations play a significant role in case outcomes. Having arbitrators with relevant subject matter expertise can lead to more equitable and informed resolutions that reflect the intricacies of the insurance industry.