(a) A benefit review conference is a nonadversarial, informal dispute resolution proceeding designed to:

(1) Explain, orally and in writing, the rights of the respective parties to a workers' compensation claim and the procedures necessary to protect those rights;

(2) Discuss the facts of the claim, review available information in order to evaluate the claim, and delineate the disputed issues;

(3) Mediate and resolve disputed issues by mutual agreement of the parties in accordance with this chapter and the policies of the commissioner;

(4) Provide an opportunity for, but not to compel, a binding settlement of some or all of the issues present at the time;

(5) Facilitate the resolution of issues without the expense of litigation or attorneys' fees for either party; and

(6) Determine, under any proposed settlement, whether any employee is receiving, substantially, the benefits provided by this chapter.

(b) Any person charging a fee specifically for the representation of an employee in any early dispute resolution proceeding or benefit review conference under this chapter shall be an attorney licensed to practice law in the state.

(c) When a benefit review conference is held, both the employee and the employer, or the employer's insurer, shall provide that a person with the authority to settle the dispute attends the conference. Parties entering into the benefit review conference process are required to mediate in good faith. Each party must be prepared to consider offers made by the other party. When a specialist determines that a party is not prepared to mediate as required or believes a party is not mediating in good faith, the specialist shall include comments to that effect in the report of the proceeding. Failure to comply with this section may subject the party or their representative to a civil penalty of not less than fifty dollars ($50.00) nor more than five thousand dollars ($5000).