Benfield, the independent reinsurance and risk intermediary, announced that its current automated reinsurer rating change notification service has expanded to include rating changes from two of the top rating agencies.
Through an agreement with Standard & Poor's (S&P), a provider of financial market intelligence including credit ratings, indices, risk evaluation, investment research and data, Benfield has been given direct access to their electronic ratings file enabling Benfield to provide real-time S&P reinsurer rating change notifications to its U.S. clients.
Earlier this year, Benfield began to provide its clients with reinsurer rating change notifications from another rating agency dedicated to the insurance industry.
Benfield automatically notifies its clients about reinsurer rating changes in real-time and correlates the impact to their specific reinsurance contracts. Utilizing direct, live data from both rating agencies and leveraging the power of its proprietary Global Reinsurance Distribution System (GRiDS), Benfield delivers immediate notifications to clients affected by reinsurer rating changes. The automated notifications detail the impacted reinsurance contracts that are serviced by Benfield Inc.
"Benfield has partnered with leading rating agencies to provide our clients with customized reinsurance rating notifications as soon as a rating change is released. This expanded service further demonstrates Benfield's ongoing commitment to lead the market in delivering innovative products and services to our clients," says Kevin Campion, executive vice president and head of the US Benfield ReMetrics team.
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