BlackRock Up for Role Rating Risk at Insurers

By Leslie Scism

BlackRock Inc., which scored multiple government assignments during the financial crisis, is a contender for another prestigious gig: helping state regulators size up risks in insurers’ investments.

The money manager and risk-advisory outfit is among a handful of firms that have talked with officials from the National Association of Insurance Commissioners lately about possibly taking on a slice of work now done by the major ratings firms, according to regulators and an official at the NAIC.

A switch away from the raters — which a key group of regulators is expected to vote on next week — would mark yet …

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