Litmus is delighted to announce that we have been retained as ongoing consultants to The British Insurance Brokers’ Association (BIBA), providing technical support on issues that relate to broker use of credit ratings and the subject of insurer solvency more generally.
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.
This new ongoing engagement is designed to help BIBA make the most of these facilities for members as well as supporting any event-based issues that arise.
BIBA Chief Executive, Steve White said “Both the provision of S&P ratings and the BLTR are critical services for our membership, and 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”.
Notes to editors
For further information please contact:
BIBA press office:
Pam Quinn, Head of Communications
020 7397 0223
Leighann Forsyth; Deputy Head of Communications
020 7397 0223
About the British Insurance Brokers’ Association
The British Insurance Brokers’ Association (BIBA) is the UK’s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries and their customers. BIBA membership includes just under 2,000 regulated firms, employing more than 100,000 staff. General insurance brokers contribute 1% of GDP to the UK economy, they arrange 52% of all general insurance and 78% of all commercial insurance business. Insurance brokers put their customers’ interests first, providing advice, access to suitable insurance protection and risk management.
BIBA helps more than 250,000 people a year to access insurance protection through its Find a Broker service, both online and via the telephone.
BIBA is the voice of the sector advising members, the regulators, consumer bodies and other stakeholders on key insurance issues.
Litmus Analysis brings the decades of experience of senior insurance ratings analysts to the insurance markets, helping insurers manage their relationships with the rating agencies and providing tools to clarify the financial profiles of insurers. For more, please visit www.litmusanalysis.co