The US National Association of Insurance Commissioners will hold a public hearing next week to examine the role ratings agencies played in assessing insurers’ creditworthiness before the financial crisis.

Representatives of credit ratings agencies, insurers and pension funds have been asked to testify along with regulators, consumer representatives, leading academics and industry experts.

The aim of the hearing is to gather information on the reliance of insurance regulators on ratings, particularly for structured securities and municipal bonds.

“Insurance regulators currently mandate the use of credit ratings to determine capital reserves and other regulatory requirements for insurance companies,” the association said.