NU Online News Service, Dec.7, 2:30 p.m. EST
SAN FRANCISCO–A National Association of Insurance Commissioners working group has drafted recommendations as to how the organization should deal with its reliance on national rating agencies to evaluate insurers' investments.
Although the NAIC Valuation of Securities Task Force has moved forward with its own rating agency initiatives regarding residential mortgage backed securities, the Rating Agency Working Group has continued a broader examination into NAIC reliance on nationally recognized rating agencies after holding a September hearing at its Fall National meeting.
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