Cybersettle.com online in Canada

New York City-based Cybersettle.com, Inc. — an online company that resolves insurance disputes — has set up shop in Canada, settling its first Canadian dispute in late October. The website saves insurers and insureds the cost of court action, with both parties exchanging statements of claim and three different settlement offers. The website evaluates the offers, and if the opposite sides’ figures fall within 30% or $5000 of one another, Cybersettle.com settles the case.

“The Cybersettle system was designed to be easily adapted to fit individual market needs, its success internationally is a testament to that fact,” says James Burchetta, chairman of Cybersettle. The Canadian operation opened October 26 and settled its first claim three days later. Established in 1996 in response to increasing difficulty in settling insurance dispute cases, with offices as far reaching as Bermuda, Paris, Hong Kong and London, Cybersettle.com has, to date, settled 3,200 claims representing more than $20 million in claims.