POTENTIAL FOR DEVELOPMENT OF ARBITRATOR PROFESSIONAL LIABILITY INSURANCE SERVICE IN THE REPUBLIC OF SERBIA

From a comparative legal perspective, insurance companies have relatively recently begun to offer the service of arbitrator civic-legal liability insurance. Some legal systems have mandated insurance for all arbitrators. Additionally, various reputable arbitration institutions have taken a stance on whether they recommend arbitrators to be insured or not. However, there are diametrically opposed opinions in varous legal systems regarding whether the existence of such insurance service is allowed by positive regulations and public policy. In line with the situation at the global arbitration scene, it is necessary to examine whether there is a legal basis for such insurance service in the Serbian financial market and what are the prospects for its establishment.

Keywords: arbitration, civic-legal liability insurance, professional insurance, arbitrators’ insurance.