According to Insurance Networking News, A.M. Best Co. revised its outlook for BNY Trade Insurance Ltd to positive from stable because of “strong capitalization, consistently positive operating results, conservative operating strategy and robust enterprise risk management (ERM) framework as it follows its parent’s, The Bank of New York Mellon Corp., ERM practices.”
Hey CFO, how much money would you save in funding costs if your rating improved because of good ERM? $1 million? $10 million? Even if you paid me $100,000 (one time fee) you are still saving a bundle in perpetuity.
Email me today at riskczar (at) gmail (dot) com.