NAIC decision to stop using rating agencies for RMBS heralds major change for US insurance industry


The European Commissioner for the internal market and services, Charlie McCreevy, was perhaps the most outspoken of the many regulators and politicians to have criticised the role rating agencies played in the 2008-09 financial crisis.

“There is widespread agreement that rating agencies contributed in a significant way to the financial crisis [by] giving excessively high ratings to dodgy products. And what is worse, [they] did so knowingly,” he said in a speech in May last year, before going on

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

The future of life insurance

As the world constantly evolves and changes, so too does the life insurance industry, which is preparing for a multitude of challenges, particularly in three areas: interest rates, regulatory mandates and technology (software, underwriting tools and…

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here