The American Arbitration Association (AAA) has not released statistics for years (other than to the CFPB). But recently, arbitration geeks got a summer solstice gift of (limited) new information.
The piece is only three pages, short enough to read during a commercial break, but here are some key numbers to know:
- In 2015, 8,360 new business-to-business (B2B) arbitrations were filed. That figure includes commercial cases, construction, and executive employment disputes;
- The claims and counterclaims made in those B2B arbitrations in 2015 totaled over $16 billion;
- As a point of comparison, there were 25,024 private contract disputes filed in all the federal courts in the U.S. in the year ending March 2015;
- The industries with the fastest increasing arbitration caseloads are transportation, commercial insurance, entertainment/media, and pharma/biotech; and
- 56% of the B2B cases in 2015 were resolved prior to award.
What I take away from this is that there is still a significant percentage of business disputes being resolved in arbitration, and more of them get all the way to an award than is true in court litigation.