Arbitration has evolved significantly in the last decade. What general counsel once viewed skeptically has now become the norm and an effective method to resolve disputes. Noah Hanft, arbitrator and mediator with FedArb, along with co-author Lorraine Mandel, also an arbitrator and former general counsel, will walk readers through the many historic concerns of arbitration and update for its current approach.

Noah J. Hanft, Chair of the Dispute Resolution Section, and Lorraine D. Mandel, Member of the Dispute Resolution Section Executive Committee, write: The time is now for all participants in the legal system—judges, counsel, and parties—to embrace mediation and foster its expansion throughout the spectrum of disputes.

In this article, Lorraine D. Mandel provides an overview of the cat bond industry, discussing the cat bond market, the structure of such bonds, offering materials and the investor community, and types of loss triggers. She closes with a review of the factors accounting for the popularity of cat bonds and the outlook for the cat bond market.