Credit Rating Agencies Getting it Wrong Could Lead to Professional Indemnity Insurance Claims

It seems that we are always to believe what credit rating agencies get it right but with something as important as a countries AAA rating are they always right. Standard and poor's faced criticism about their rating of France by the EU commissioners and Frances prime minister Sarkozy.

Moody's and S&P have massive power and influence over what could happen to a countries ratings is because they produce what the financial markets rely on. These agencies need their wings dipped, they make millions out of the reports they produce and the point is that these reports are not always accurate.

Perhaps the best way to sort them out is to make claims against their professional indemnity insurances and bring their directors and officers into account. Particularly when they can loose billions of Euro, pounds and dollars of the markets just by a wrong analysis of a rating and countries like France. America suffer from sometimes their very poor reporting