BIBA Expands Relationship with Litmus to Act as Advisors on Broker Use of Ratings and Insurer Solvency

LONDON, Feb. 24 -- The British Insurance Brokers' Association issued the following news release:

The British Insurance Brokers' Association (BIBA) is delighted to announce that it is extending its existing relationship with the specialist consultancy Litmus Analysis.

The two organisations currently provide BIBA members with an online tool to help them evaluate the financial strength of unrated insurers - the BIBA Litmus Test Report (BLTR). Separately, ratings agency Standard & Poor's provide a facility allowing access for certain BIBA members to its rating information on rated carriers active in the UK.

To help BIBA make the most of these facilities for members Litmus will now also provide the association with technical support on issues that relate to broker use of credit ratings and the subject of insurer solvency more generally.

BIBA Chief Executive, Steve White said "Both the provision of S&P ratings and the BLTR are critical services for our membership. It is also important that within BIBA we have a robust technical understanding of insurer solvency. As independent experts with decades of rating agency experience behind them Litmus are the ideal partners for us on this and their expertise will help us to help members."

Litmus founder Peter Hughes said "We are delighted to be extending our relationship with BIBA in this way. It was BIBA's initiative that led to the creation of the BLTR and BIBA are again showing real leadership in their recognition of the importance of the subject".

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