At least one rating agency was subdued in its response to a plan that had the membership of the National Association of Insurance Commissioners looking into developing its own rating agency.
State regulators are researching the idea of creating a Nationally Recognized Statistical Rating Organization, said Roger Sevigny, New Hampshire insurance commissioner and president-elect of the Kansas City, Mo., based NAIC.
“Moody's believes the markets have benefited from the diversity of information that results from a robust and competitive marketplace for credit analysis, and has long supported increased competition and greater transparency,” Tony Mirenda, a spokesman for Moody's Investors Service, New York, said in a statement.
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