NU Online News Service, Sept. 24, 3:04 p.m. EDT

NATIONAL HARBOR, MD–A reevaluation of insurance regulators' use of rating agencies is needed because their poor performance helped prompt the financial crisis, a regulator and consumer advocate testified today.

Their comments were made at a meeting session of the National Association of Insurance Commissioners whose members employ rating agency evaluations to determine insurer risk-based capital requirements.

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