NU Online News Service, Nov. 9, 3:45 p.m. EST

The National Association of Insurance Commissioners has approved a proposal to develop a new model for rating residential mortgage-backed securities (RMBS) held by insurers.

This new model is the latest action by the NAIC to distance regulators from exclusive reliance on nationally recognized rating agency evaluations of securities for the purpose of determining insurer risk-based capital (RBC) levels.

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