ALTA Names New Arbitration Administrator

The American Land Title Association has appointed the Minneapolis-based National Arbitration Forum as its new administrator for title insurance arbitrations.The decision comes in the wake of a comprehensive review of ALTA's Title Insurance Arbitration Rules, the organization said. "At the time of our system review, we found the title insurance industry in need of a more fair and economical process for resolving disputes," said ALTA president Rande Yeager. The National Arbitration Forum was chosen "because of its reputation and its experience in developing specialized programs" and its willingness to commit resources to developing the system, he said. ALTA said its updated arbitration rules now incorporate the forum's code of procedure and fee schedule. The organizations can be found online at http://www.alta.org and http://www.arbitration-forum.com.