Moody’s Investors Service says it welcomes news that the National Association of Insurance Commissioners is thinking about getting into the rating business.
The NAIC, Kansas City, Mo., is looking into the possibility of registering a “nationally recognized statistical rating organization” with the U.S. Securities and Exchange Commission.
The SEC now lists 10 NRSROs on its Web site.
The NAIC would be going head to head with the existing NRSROs, such as A.M. Best Company Inc., Oldwick, N.J.; Fitch Inc., London; Moody’s Investors Service Inc., New York; and Standard & Poor’s Ratings Services, New York.
A.M. Best has declined to comment, and representatives from Fitch and S&P have not been available to discuss the news.