Access America Partners with Standard & Poor`s

* Reuters is not responsible for the content in this press release.

Mon Jun 29, 2009 3:36pm EDT

RICHMOND, Va.--(Business Wire)--
Access America has partnered with Standard & Poor`s (S&P) Risk Solutions to
incorporate S&P`s Credit Risk Tracker as a new, more advanced tool in its effort
to obtain more accurate risk information on travel supplier companies. Access
America and its Underwriting Department will use Credit Risk Tracker to analyze
public and non-public financial data from companies on or being considered for
the Covered Supplier List of the company`s Access America Travel Insurance
products. Access America travel insurance policies cover customers for the
supplier default benefit when their travel supplier is included on the Covered
Supplier List. 

Credit Risk Tracker is a scoring model that produces a forward-looking, one year
probability of default (PD) predictor and establishes a new standard for
evaluating risk within the hard-to-benchmark category of privately-held
companies. Credit Risk Tracker helps underwriters expedite underwriting
decisions and reduces the time and cost required for credit reviews. It also
improves the transparency and efficiency of risk management. 

Mondial Assistance Chief Underwriting Officer David Bloom says S&P`s Credit Risk
Tracker will help make underwriting reviews faster, fairer and simpler. "It is
our hope that using Credit Risk Tracker will provide us with a more advanced
tool to objectively analyze the data we require for effective risk management of
the travel supplier industry," said Bloom. 

S&P`s Managing Director and Global Head of Risk Solutions David Samuels adds,
"Access America`s use of Credit Risk Tracker demonstrates their commitment to
adopting industry best practices in the area of credit analysis. Now more than
ever, it`s critical to implement a process for assessing credit worthiness and
we are pleased that Access America has selected Standard & Poor`s Risk Solutions
and our leading solution, Credit Risk Tracker, for their risk management
program." 

Standard & Poor`s, a subsidiary of The McGraw-Hill Companies (NYSE:MHP), is the
world`s foremost provider of independent credit ratings, indices, risk
evaluation, investment research and data. With offices in 23 countries and
markets, Standard & Poor`s is an essential part of the world`s financial
infrastructure and has played a leading role for nearly 150 years in providing
investors with the independent benchmarks they need to feel more confident about
their investment and financial decisions. For more information, visit
http://www.standardandpoors.com. 

Mondial Assistance is a global leader in specialty insurance and emergency
assistance services. Four percent of the world`s population, or about 250
million people, are served by Mondial Assistance businesses around the globe. In
the United States, Mondial Assistance is a brand name of World Access Service
Corp., which is best known for its Access America brand of travel insurance and
assistance services. As one of 29 business units, the U.S. operation serves
major travel suppliers, health insurers, credit card, and entertainment
companies with insurance products, international travel assistance, and
concierge services. Mondial Assistance is part of the Allianz (NYSE:AZ) group of
companies. For more information please visit: www.mondialUSA.com. 



Mondial Assistance
Daniel Durazo, 1-804-673-7175
or
Standard & Poor`s
Michael Privitera, 1-212-438-6679 

Copyright Business Wire 2009

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.