Brokers to check underwriter health
UK brokers will be able to inspect the financial strength of insurers across the country under a new system backed by the British Insurance Brokers Association (BIBA).
The financial strength rating service rolled out by Standard & Poor’s will help members complete their Financial Services Authority due diligence compliance by giving real-time data on more than 100 UK and Irish insurers.
BIBA CEO Eric Galbraith says clients will be better served by having information on underwriters readily available.
“We believe that this service offers the analytical expertise (brokers) require, in a format which is easy to use and provides the depth of coverage and breadth of information that makes it a truly valuable resource for our membership,” he said.
The financial strength rating service rolled out by Standard & Poor’s will help members complete their Financial Services Authority due diligence compliance by giving real-time data on more than 100 UK and Irish insurers.
BIBA CEO Eric Galbraith says clients will be better served by having information on underwriters readily available.
“We believe that this service offers the analytical expertise (brokers) require, in a format which is easy to use and provides the depth of coverage and breadth of information that makes it a truly valuable resource for our membership,” he said.