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N.Y. Department Hires Cybersettle

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NU Online News Service, March 11, 2004, 4:31 p.m. EST – The New York State Insurance Department Liquidation Bureau has hired Cybersettle Inc., White Plans, N.Y., to help it handle claims against insurers under its supervision.[@@]

A party in a dispute can use Cybersettle’s Web-based service to submit its offer without seeing the other party’s offer. If Cybersettle finds that the offers overlap, it informs both parties and gives them a chance to complete settlement negotiations.