§431:10C-213.5  Binding arbitration. (a)  A claimant or defendant shall have the option to elect arbitration toresolve a claim in tort that is covered by motor vehicle liability insurance.

(b)  A claimant or defendant may submit anydispute relating to a tort claim to binding arbitration by either filing awritten request with the clerk of the circuit court in the circuit where theaccident occurred or by agreement.

(c)  A claimant or defendant shall have theopportunity to decline arbitration.

(d)  Except as otherwise provided herein,arbitration shall be in accordance with and governed by chapter 658A.

(e)  Fees and costs of arbitration shall beborne equally by the parties, unless otherwise agreed to by the parties.

(f)  Collection of any arbitration award issuedunder this section shall be limited to the applicable liability policy limit,unless the insured tortfeasor otherwise agrees.

(g)  The amount of an arbitration award underthis section shall not be binding on a subsequent underinsured motorist claim.[L 1998, c 275, §3; am L 2000, c 181, §1; am L 2001, c 265, §4]