How do ratings fit in?, Financial crisis Issues, Financial Crisis Impact

Before - The use of ratings; During- Responses, Reactions, Lessons Learnt; After- BReakouts, Conclusions...

Rating agencies learned their lessons, insurance ratings less affected than other (banks, MBS), insurance ratings will remain an important part of financial markets...until a new black swan emerges...

Three propositions: Insurance Companies can be systemic importance; Insurance companies should be subject to tougher regulation and supervision; Risks should be assessed on a group-wise basis...