Benfield insurance brokerage said today it has arranged for access to A.M Best Co.'s electronic ratings file, enabling it to provide real-time reinsurer A.M. Best rating change notifications to its U.S. clients.
Terms of the agreement with A.M. Best Co. in Oldwick, N.J., were not disclosed.
Benfield said that with programming access to A.M. Best Co. rating information, it will be the first reinsurance intermediary to notify its clients about reinsurer rating changes in real time and correlate the impact to their specific reinsurance contracts.
The brokerage said it will utilize direct, live data from A.M. Best and leverage the power of its proprietary Global Reinsurance Distribution System (GRiDS) to deliver immediate notifications to clients affected by reinsurer rating changes.
Benfield said the automatic notifications will detail the impacted reinsurance contracts that are serviced by Benfield Inc.
Kevin Campion, executive vice president and head of the U.S. Benfield ReMetrics team in Bloomington, Minn., said, "Many of our clients depend on Benfield to help keep them informed about developments within the industry, and this fully automated rating change notification service helps us achieve that goal."
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