Archived announcements from NASVA:

Thursday, December 27, 2007

A Message from the AVS Administration
(This message can also be found on the AVS Bulletin Board)

Valued AVS Customer,

Please find the attached license agreement for 2008. Due to the enhanced pricing structure for 2008, all current and future AVS subscribers need to complete the new license agreement. The new billing structure begins February 1, 2008. In order to retain service, the following agreement must be completed and mailed to the following address:

NAIC
ATTN: AVS Administration
2301 McGee, Suite 800
Kansas City, MO 64108

Upon receiving the signed original license agreement, you will receive an invoice for your total 2008 fees.

You can reach the AVS Administrators at avsisis@naic.org or 816.783.8707.

Kindest Regards,
AVS Administration

      AVS License Agreement 2008.doc

Friday, November 16, 2007

The Hybrid RBC Working Group met Tuesday 11/13 and voted to perpetuate the ‘short-term solution’ into 2008. A quick summary of the meeting follows:

1. Reporting—Although the regulators agreed with industry that hybrids should be reported as bonds, they voted to retain the reporting of these securities as preferred stocks for 2008. They will recommend the introduction of a new line item for hybrids be included in Schedule D-Part 1 (bonds) for 2009. This new line item will also be incorporated into Schedule D-Part 3, 4, 5, Schedule D-1A, Summary by Country, etc. Please be aware the reporting of hybrids in Notes to the Financial Statement will also continue for 2008.
2. AAA Report—The regulators adopted the report except for the recommendation that the notching of hybrids be eliminated. As a result, the notching of hybrids issued after August 2005 will continue into the foreseeable future.

In essence, the reporting of hybrids will remain as-is throughout 2008.

Tuesday, October 30, 2007

A message from the SVO:

Due to an unexpected network change, we have released some Information Request letter changes sooner than expected. These changes were released this morning.

Similar to the recent changes with Group Code 99 and Bank List letters, SVO analysts will now have the option of transmitting newly created Info Request letters to you via e-mail.

You may review a sample of the revised Info Request letter that now contains Date Created and Expiration Date along with a SVO Analyst option that can be utilized within ISIS.

Sample Info Req

This release content will soon be posted on the SVO web page along with the 10/26/2007 ISIS Enhancements. Let me know if there are any questions or concerns.

Thanks,
Rodney J. Cornish

Wednesday, October 24, 2007

The following enhancements to the ISIS system will be available in production on Friday 10/26/2007. This information will also be posted on the SVO web page (http://www.naic.org/svo_important_updates.htm) under ISIS Enhancements.

Pricing Feed Changes
Various adjustments have been made to our internal pricing applications to increase the SVO's overall pricing coverage of securities within VOS and FE databases. In addition, premature stock split adjusted prices will be bypassed and will overwrite the current values.

Automated Online Letter Functionality (E-Mail Option)
For the generation of letters within ISIS, e-mail functionality will be incorporated that will provide the SVO Analysts the option to deliver these letters electronically or by hard copy (snail mail).

The following letters will possess this functionality on 10/26:

• Group Code 99 Letter


• Bank Letter of Credit

In our next major release in February 2008, this functionality will be expanded to additional ISIS-generated letters including SCA Valuation and Mutual Fund letters.

NOTE: Please ensure your contact information for your ISIS account contains a valid e-mail address if you are interested in receiving automated letters in the future.

Schedule BA Surplus Note - Letter Changes
Specific language (Replace Line 66..) has been replaced with more generic Annual Statement information.

Material Change/Additional Information Message on Initial Filings
The ISIS/ATF application has been modified to inform filers that they can submit Material Change/Additional Information ATFs on top of outstanding Initial Filings. Once the CUSIP is entered in the main ATF page, the following screen will state that an Initial Filing has already been created for the CUSIP. A new message will be below, stating "Press Next if you would like to create a Material Change filing" along with Back and Next buttons to proceed.

Thanks,
Rodney J. Cornish
SVO Business Systems Analyst
NAIC - SVO
48 Wall Street, 6th Floor
New York, NY 10005
(212) 386-1933
rcornish@naic.org

Thursday, October 11, 2007

SVO Purposes and Procedures Manual Alert
Amendments adopted
During the NAIC Fall National Meeting, the Valuation of Securities Task Force adopted seven amendments to the 2007 Purposes and Procedures Manual. Five amendments are related to the Task Force's "transparency" initiative; the effort to improve how NAIC communicates its deliberations and decisions on new investment products to insurance companies, market participants who work with them on investments and other regulators. The other two amendments are not related to transparency.

Four amendments simply disclose information already known by most insurance company managers and regulators but perhaps not by market participants. One amendment adds the SVO classification mission to the formal directives in Part Two. A second amendment discloses that it is a function of the SVO to assist insurance regulators to understand risks in new securities so regulators can formulate an appropriate regulatory response. A third amendment provides definite instructions as to when the SVO should conduct a classification analysis of a security. A fourth amendment says that insurance companies must classify filing exempt (FE) eligible securities using the procedure in the Purposes and Procedures Manual.

The Task Force also voted to adopt amendments to the existing Advanced Rating Service - Emerging Investment Vehicle product to permit issuers and investment bankers who work with insurance companies to directly submit a request for an SVO opinion of probable regulatory treatment on new investments. The current process requires an issuer, broker-dealer or other similar person to be sponsored by an insurance company.

Another amendment clarifies that the SVO can direct insurance companies when to report a given investments on a specific reporting schedule. This amendment simply discloses that the SVO may for example; direct an insurer that a security filed as a Schedule D asset must be filed as a Schedule BA asset.

All of the amendments discussed so far are effective for, and will first appear in, the December 31, Purposes and Procedures Manual.

Perhaps the most important amendment is the complete reorganization of the NAIC valuation process. The amendment of Part Six permits insurance companies to report whatever fair value they deem appropriate provided the insurer identifies the source of the fair value in a new column that will be added to the annual statement blanks. The SVO will continue to provide valuations for private placements and any security filed with it. Also, NAIC will create a system to capture prices reported by insurers for the same security and produce average prices so regulators could identify when reported prices deviate from the average. Also, under the proposal, the SVO will help regulators determine the appropriateness of pricing models used by insurers to determine prices. This amendment is effective as of December 31, 2008 - January 1, 2009 to will permit NAIC staff to implement necessary system changes.

Staff to develop a pre-packaged reporting framework for securities under regulatory review
During the Fall National Meeting, the Valuation of Securities Task Force directed the staff to formulate and present a comprehensive prepackaged temporary reporting mechanism for securities under regulatory review.

The Derivatives Market Study Working Group nears completion of its Charge
At the Fall National Meeting, the Derivatives Market Study Working Group reported that it has identified four proposals to improve the regulation of derivative instruments, adopted two of them and would finalize the other two soon. To encourage better risk management, the Working Group recommended that the NAIC establish a risk based capital credit for effective hedging program. And, to address its concern that insurance companies were taking derivatives risk that were not captured on Schedule DB, the Working Group adopted a proposal to have the Financial Examiners Handbook Technical Group develop interrogatories to identify when companies were engaging in unreported derivative activity.

The Task Force adopted both recommendations, referring the credit for RBC program proposal to the Capital Adequacy Task Force and the interrogatories proposal to the Financial Examiners Handbook Technical Group. The Working Group also reported it was finalizing a proposal to reorganize Schedule DB and finalizing amendments to NAIC Model Regulation 282 on Derivatives both of which it hopes to release for comments soon.

The Invested Asset Working Group plans a series of meeting
This Working Group was reconstituted to review new investments and provide regulatory guidance to insurance companies interested in buying such new investments. Earlier this year, the Working Group completed its review of constant proportion debt instruments. More recently, the Working Group was asked to consider whether improvements could be made to investment schedules, the process for assessing securities, deciding on the appropriateness of the current regulatory framework and communicating decisions to insurance companies, market participants and the regulatory community. During the NAIC Fall National Meeting, the Working Group reported it is finalizing documents discussing proposed project concepts which it plans to release for comments soon. After the comment period, the Working Group will hold a series of meeting to discuss the concepts with members of industry and other interested persons.

No Securities Eligible for Reporting with NR* or Z* administrative symbols this year-end
The Valuation of Securities Task Forcer formally announced that there are currently no securities under regulatory review (within the meaning of the Purposes and Procedures Manual) and that for year end 2007 hybrid securities should continue to be reported and accounted for in accordance with the short-term solution announced by the Hybrid RBC Working Group.

Referral from the Statutory Accounting Principles Working Group - SSAP No. 97
AIG has asked the Statutory Accounting Principles Working Group to expand the list of acceptable exchanges for use in valuing publicly traded subsidiary, controlled or affiliated (SCA) investments under the market value approach. The Statutory Accounting Principles Working Group is working on adopting SSAP No. 97 before year-end has asked for the Task Force to assist it in evaluating AIG's request. The Task Force instructed the SVO to consider the level of liquidity, accounting and legal transparency demonstrated by the proposed exchanges relative to that exhibited by the NYSE, AMEX and National Market NASDAQ and to report back to the Task Force at its next meeting.

Please direct any questions or comments to:
Robert Carcano (rcarcano@naic.org)
         - or -
Richard Newman (rnewman@naic.org)

Thursday, October 4, 2007

The Executive Board received some inquiries from member companies regarding how Matti Peltonen (New York) compiled the CAT Bond list, in hopes that they could similarly reproduce the list in their own companies periodically.

The response we got from Matti was that he used the Bloomberg API field (which is simply "CATASTROPHE"), as well as a list he had received from Goldman. He indicated that the Bloomberg API field only gets you so much, because not all CAT bonds have that field populated in Bloomberg; however, it is a good start.

Wednesday, September 19, 2007

The MOVEit server was having some issues today and at least one of the ATF forms in question was not saved. The issue is now resolved and filers should now be able to successfully file. For filers whose forms were lost, they will have to use the ATF system to delete the ATF in question and file a new one.

Tuesday, September 18, 2007

The ATF system is currently experiencing errors. The following message is appearing when you go to retrieve your ATF and you cannot pull up the ATF print screen:

The server encountered an internal error and was unable to complete your request.

Application server is busy. Either there are too many concurrent requests or the server still is starting up.

Kansas City is looking into this issue and will let us know when the problem is resolved.

Monday, September 17, 2007

This message is appearing out on the AVS bulletin board:

Beginning in 2008, the AVS system will introduce a new billing structure. In order to simplify billing for the AVS system, customers will receive only one invoice annually. Once this invoice is paid, AVS customers will then enjoy UNLIMITED AVS USAGE for the entire year!

Further details about this new billing structure, as well as a new AVS License Agreement, will be distributed in the upcoming months. Keep an eye on the AVS Bulletin board for updates as the New Year approaches!

Please contact the AVS Administrator at avsisis@naic.org or (816) 783-8707 with any questions.

Wednesday, September 12, 2007

Here are comments provided by the ACLI regarding justification for keeping the Hybrids on Schedule D1 from a reporting standpoint. NASVA & ACLI agreed to get comments from its members concerning the system implications of having these issues reported on Schedule BA, if the regulators decide that BA is the appropriate geographic location for Hybrids on the schedules. Please review this information as you prepare to look at their own systems, and provide your comments to Karla Streeter at kstreeter@metlife.com


ACLI Comment on Hybrids.pdf

Monday, September 10, 2007

There have been discussions whether Hybrids should ultimately be reported on Schedule D1 or BA. We would like to gather information from our members by 9/21/07 and would like you to provide feedback:

• Where would companies like to see these assets reported?
• What kinds of issues do you foresee with your Investment Accounting System with each alternative?
• What advantages or disadvantages?

Please respond in detail as we will be communicating these issues to the Hybrids RBC Working Group for their consideration and want to give an accurate interpretation of how this decision will affect insurance companies. Please submit your response to Karla Streeter at kstreeter@metlife.com

Wednesday, September 5, 2007

A Message from NASVA president Rose Smith:

The following is a list of Catastrophe bonds by CUSIP held by insurance companies provided to us by Matti Peltonen of the NY Department. In his VOS Task Force Update at the NASVA Annual Conference, he had commented that there were not many insurance companies currently filing on these type of issues. Catastrophe bonds are not FE Eligible, although they are ARO rated, because the VOS Task Force felt the SVO should be reviewing these type of issues. We hope this will help in your analysis of your company's holdings.

Catastrophe bonds by CUSIP.pdf

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These are the Industry comments on the Schedule DB proposal of the Derivatives working group discussed on today's call.

Sept. 5 Comments on Sched DB changes - final.pdf

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Here are California's proposed changes to the Model Law which will be discussed on today's call at 1:00 pm Eastern.

NAIC Derivative Model Reg Proposed Changes.pdf

Thank you,
Richard Newman

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AVS Month-End Processing has been completed and the system is available at this time.

Thank you,
Becki La Plante

Tuesday, September 4, 2007

This is a friendly reminder of the SVO deadlines!

SVO_Schedule.pdf

Friday, August 17, 2007

The online ISIS/ATF application is currently down. Within the past couple of days, a couple of users have been receiving the error message below:

Schedule BA Assets ATF Message
Error
Warning! ISISPSListAtfActiveAgentContactInfo Declare Cursor - ORA-00942:
table or view does not exist

This message has appeared sporadically after pressing Next on the Authorization to File (ATF) page where Maintain Contact Information and Maintain a Recently Filed ATF options also reside. The SVO's technical staff in KC are addressing the issue, and a resolution is anticipated later this morning. Rodney Cornish will keep us posted.

Thursday, August 2, 2007

AVS Month-End Processing has been completed and the system is available at this time.

Thank you!
Becki La Plante
Product Specialist II
NAIC Executive Headquarters

Friday, July 27, 2007

A message from Rose Smith - NASVA President:

Dear NASVA membership,
As you know last year the Executive Committee format changed from having a President, Vice-President and Secretary to having a Committee which included 12 members. The feedback received from those members was positive regarding this new format. Therefore, we have decided to continue this style going forward.

The current Executive Committee was polled and those who were interested in serving another term have been added to the ballot which will be voted on at the Annual Conference in Baltimore.

Now it is your turn. Are you interested in serving on the NASVA Executive Committee? If you are, please send an email to Patricia Sullivan at patricia_sullivan@standardandpoors.com and your name will be added to the ballot. Please be sure to review the attached copy of the NASVA Bylaws.

The NASVA Ballot Committee (Patricia Sullivan and Gary Wicklund) will determine how large the Committee will be, depending on the number of nominations that are received. (E.g. if 20 nominations are received, they may allow membership to pick say 10 members to serve or if they only have 12 nominations then they may allow all 12 to serve). They will make this recommendation. Thank you!

Tuesday, July 17, 2007

This year at the annual conference, we are going to have two Panel Discussions. One is going to be a Filer Panel. The participants on the panel will be representatives from different types of companies in the business. The second is going to be an Insurance Examiner Panel. This will be made up of regulators from Iowa, Maryland & NY. We are looking for topics/questions to be posed to the participants on the panels. Please get back to Toby Horton at THorton@aflac.com or Karla Streeter at kstreeter@metlife.com by August 1st.

Thank You!!

Thursday, July 12, 2007

This is a reminder to be sure to register for the NASVA Annual Conference before July 23rd to avoid paying a $50 late fee. If you have any questions please feel free to contact any member of the conference committee or executive board.

Rose Smith - President
Laurie Armstrong
Todd Brylow
Toby Horton
Judi Hills
Karen Klune
Kathy Cohoon
Pat Sullivan
Pam Levesque
Connie Cox
Charles Born

A special note about the conference:
We would like to have any questions that the group might have concerning any problems/or any current issues that they might have. Since Becky and her boss will be at the conference, it would be nice to have a list of all questions that anyone might have. If you have questions, problems, or issues that you would like to have addressed, please send them to Rose Smith (RSmith4@BabsonCapital.com)

Thursday, July 12, 2007

We want to know if you have any more comments or have had experiences to add to our documents we provided Dan Daveline. Please email Karla Streeter, kstreeter@metlife by the end of the day Weds July 18th if you have anything further to add. Thank you.

Tuesday, July 10, 2007

A message from Becky La Plante at the NAIC

I've updated the AVS User's Guide. Here is a copy of the new guide. I will also have this posted to the NAIC's website at www.naic.org -->Store

Thank you!

Monday, June 11, 2007

-- SVO Q&A session change for 2007 conference --

This year we are attempting to shorten the Q&A portion of the Annual Conference. Rather than having all of our Q&A questions discussed with the large group we are going to focus on the Top Ten Questions that interested parties would like answered and then provide time and location for each of you to handle your company specific questions one on one with the SVO.

We are hoping that this will provide more time during the conference to present more topics that are meaningful to the group at large.

Please submit any and all questions that you might have to Laurie Armstrong (armstrong.laurie@principal.com). Laurie will put together the Top Ten Questions and publish these before the conference. If you see that your question didn’t make the Top Ten List, then you should be prepared to bring this up with the SVO on a one on one basis during the break out sessions at the conference.

Thursday, May 17, 2007

Following is NASVA's comment letter regarding the Clarifying Amendment: Authority to Direct Reporting on Specific Schedule.
NASVA BAtoD comment letter.pdf

Monday, May 14, 2007

Following are the comments we received from member companies regarding Hybrid implementation experiences. These were forwarded to Dan Daveline, Chair of the Hybrids RBC Working Group.

Hybrid Comments-Final.pdf      Hybrid Filings Survey.htm

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From the ISIS Bulletin Board:

Just an FYI, the NAIC stopped the process that was prompting a password change request in ISIS. Becki LaPlante modified the bulletin board posting to read as follows:

"The issue that we were experiencing on May 10, 2007, that was prompting a password change at login, has been corrected at this time. Any users that changed their passwords when they logged in will need to use their new passwords going forward. Those users that did not make changes, and those that did not log into the system on May 10th will not need to make any password changes.

Thank you for your patience while we resolved this issue.

If you have any questions, please contact the AVS Administrators at either avsisis@naic.org or 816.783.8707."

Thursday, May 10, 2007

From the ISIS Bulletin Board:

We are aware that today users are receiving prompts to change their passwords.

Currently we are looking at ways to prevent this from occurring, but in the interim, please be patient as we work to resolve this issue. If you are prompted to change your password, please choose an alphanumeric password that is at least six characters long. Additionally, please keep all of the checkboxes selected so that your password is fully changed.

Again, we apologize for this inconvenience and we are working diligently to modify the system so that you do not receive this prompt in the future.

If you have any questions, please contact the AVS Administrators at either avsisis@naic.org or 816.783.8707.

Thank you again for your patience and understanding.

Becki La Plante
Product Specialist II
NAIC Executive Headquarters

Wednesday, May 9, 2007

Released for comment:

Mike Moriarty, Chair of the VOS/TF has asked that the following document be released for a two week comment period.

This item will be on the VOS/TF agenda at the Summer National Meeting in San Francisco. Todd Brylow at NWML will be coordinating the NASVA response.
ClassificationBorD.pdf

PLEASE SEND ALL COMMENTS TO:
TODD BRYLOW
toddbrylow@northwesternmutual.com

Thursday, May 3, 2007

The following document provides examples of the SVO's rating treatment for FE securities under the new 2^nd-lowest rating rule.

SVO_FE-2nd_Lowest_Notice.pdf

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At the 2006 NAIC Winter National Meeting, the Valuation of Securities Task Force (VOSTF) called upon the SVO to publish information that describes in more detail the SVO’s classification methodolgy as it applies to hybrid securities. On May 1, the SVO published the first of a series of articles on their website. The article appears under the “SVO Special Report on Hybrid Securities” link. According to the SVO, this article is the first in a planned series of five articles that will appear on the website approximately one week apart. For those in the insurance industry involved with the Hybrid situation over the past year, this should prove to be some interesting reading.

Tuesday, May 1, 2007

Please be advised that there is another feature to the inquiry system that enhances issuer number lookup using only the first 6 characters of a cusip or PPN number. On the ISIS Inquiry Screen, if you only type the first 6 characters (or the Issuer portion of the ID) and hit Enter all of the securities that complete that issuer number will pop up!

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At the 2006 Winter national meeting, the Valuation of Securities Task Force (VOSTF) adopted five recommendations aimed at improving how state insurance regulators communicate opinions on perceived risks in new financial products purchased, or eligible for purchase, by insurance companies. Among the five recommendations one called upon the SVO to publish articles that describe in more detail the SVO's classification methodology as it is applied to hybrid securities.

The first in a planned series of five articles has been posted to the SVO website under the heading "Special Report - Hybrid Securities." The articles will appear approximately once a week in accordance with this schedule:

1st Article - May 1 Tuesday:
This article provides background on the events that motivated the adoption of the Task Force recommendations and the original concerns that lead to the adoption of the classification methodology. THIS ARTICLE HAS BEEN POSTED TO THE SVO WEB SITE TODAY.

2nd Article - May 7 Monday:
The adoption of the classification methodology by regulators reflects a regulatory opinion that ratings do not reflect all potential or likely relevant risks in hybrids. The rationale for this is examined in this article.

3rd Article - May 14 Monday:
This article discusses the components of the classification model and the application of the classification methodology, identifying the analytical principles that guide and constrain analytical discretion in the classification decision making process.

4th - May 21 Monday:
This article reviews SVO experience in classification of hybrid securities over the past 10 years. It focuses on both the development of securities with higher equity content and the classification implications for such securities.

5th - May 29 Thursday:
The fifth article discusses synergistic analysis in the context of actual examples.

Please keep a copy of this schedule because the SVO does not intend to send additional notices for each subsequent article posted to the web.

Thursday, April 26, 2007

A reminder: The SVO implemented changes effective 1/1/2007 that might have easily been overlooked by companies:

1. The term NRSRO (Nationally Recognized Statistical Rating Organization) is no longer being used. In an effort to differentiate rating organizations “approved” by the SEC and other organizations from rating agencies approved by the SVO, the term NAIC ARO (Acceptable Rating Organizaton) was adopted.



2. The “2nd lowest” rating rule is no longer to be used for FE (filing exempt) securities. Under the new guidelines, where a security is rated by two AROs, the lowest rating is to be used. A security rated by three or more AROs will be reported with the 2nd lowest rating.



3. New administrative symbols of V, J and K for stocks have implemented and the definition of the symbol A has been revised. All of these administrative symbols are use in statement reporting as the market indicator of the stock.

Additionally, remember that all capital and surplus debentures, sometimes referred to as Surplus Notes, are to be filed with the SVO. The SVO will then verify that the company owning the Note has selected the correct valuation method SSAP No. 41.

Wednesday, April 11, 2007

The NASVA Executive Board is trying to get an understanding of how many Hybrids securities are being filed with the SVO in 2007 as opposed to what had been filed in 2006. We also would like to get a handle on the motivation for companies to file Hybrids with the SVO. (Example: Was it a regulator-directed request or a company policy?) We want to makes sure we are representing our members correctly when directing comments or questions to the SVO or Dan Daveline, Chair of the Hybrids RBC Working Group at the NAIC with regards to issues faced by insurance companies. Below are our survey suggestions. Please forward your responses to Karla Streeter (kstreeter@metlife) by Friday April 20th.

Survey Questions:

1. Did your company file any of its hybrid securities with the SVO in 2006? If so, Why?



2. Have you filed any in 2007? If so, why?

Please let us know if you have any questions -

Thank you,
THE NASVA Executive Board

Tuesday, April 10, 2007

Both Reports:

• Report of SVO Classifications Decisions Number 9E - Dated April 10, 2007



• Reporting of Hybrids Classified by the SVO updated as of April 10, 2007


have been posted to the NAIC/SVO web page.

Tuesday, March 20, 2007

The SVO will delete securities from the VOS database with 'NR' and 'UP' administrative symbols. Please see the following document for more information.

Monday, March 19, 2007

While creating Pricing Request ATFs within the online ISIS/ATF application, the system is currently displaying a 'Page cannot be displayed' message after pressing Finish instead of the link of the newly-created ATF. Please keep in mind the system is still recording the newly-created Pricing Request ATF so you do not have to re-attempt another submission. The newly-created ATF can be accessed through the View List of recently filed ATFs link within the ATF application. Clicking the GET ATF button adjacent to the Pricing Request ATF record within this page will open your newly-created Pricing Request ATF.

The NAIC/SVO is currently investigating the situation and expect to rectify the matter in a timely manner.

Please contact Rose Smith if you have any further questions.

Thursday, March 15, 2007

The NASVA Executive Board was approached at the NAIC meeting in NYC by a member of the NAIC staff who would like industry to provide a list of the technical difficulties faced by Member companies with regards to implementing the Short Term Plan for Hybrid Reporting at Year End 2006. Please forward to Karla Streeter a list of any problems you experienced as well as how your company chose to address these issues so that we can forward these to Dan Daveline, Chair of the Hybrids RBC Working Group at the NAIC. This way we can make sure they are considered when the Working group comes up with its Long Term Plan.

Please send all responses to Karla by Friday March 23rd. The RBC working group would really like to understand all issues we in the industry faced in regards to the short term solution and would like a chance to respond to them in conjunction with the long term solution. This is a chance to have our voices/concerns heard before a long term solution is put into place.

Wednesday, March 14, 2007

We are addressing some concerns about the length of the SVO Q&A session at the past few annual conferences. The executive committee has been looking into ways to improve this session, along with involving the SVO more in the discussion.

In conjunction with the SVO, we have come up with a new topic session for the Annual Conference called the SVO Hot Topic Session. What the SVO would like to know from industry is what are the 5-8 hot topics/concerns we have that we would like them to address. The SVO would like to be able to concentrate on those specific topics that most insurance companies are having a hard time dealing with. This would be an open discussion session.

Please let Judi Hills know what topics each company would like to see addressed by the SVO, and the top 8 will be presented to the SVO for further discussion. Your topic suggestions need to be sent no later than Friday April 6th. You may also let Judi know if you have any questions.

Thank you,
The NASVA Executive Board

Tuesday, March 13, 2007, 12:00 pm ET

The NAIC is currently experiencing technical difficulties and the ISIS System is unavailable. We apologize for this inconvenience and our staff is working diligently to correct this issue. We expect to have the ISIS System available sometime within the next two hours.

Friday, March 2, 2007

The SVO has notched the hybrid securities that they have classified as Common Stock. A full report is available on the SVO web site.

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Also, according to Becki La Plante at the NAIC, the February Month-End processing is complete and the AVS System is online at this time. All requested valuation files are now available.

Thursday, March 1, 2007

SVO Classification Determination Report 9C has been posted to the SVO web site. You may also view it here.

Friday, February 23, 2007

The following enhancements to the ISIS system will be available in production on Friday, 2/23/2007:

Prevention of Duplicate Appeals for Securities
The ISIS/ATF application has been modified to prevent filers from creating duplicate Appeal filings for a security.

PAM Request Access for Examiners within I-SITE
A new PAM link will be available within the Categories page in I-SITE to allow state examiners to submit electronic PAM Requests via ISIS.

AM BEST Ratings Within ISIS
AM BEST ratings have been installed along side the other 4 agencies within the SVO's internal ISIS/VOS application. The ISIS/ATF application will be updated in the next major release, which will be in June.

Thursday, February 15, 2007

The SVO asked the NASVA Executive Board to distribute the following reminder about the new fee structure that is in place beginning 01/01/07. This fee schedule can also be found in the appendix of the P&P Manual. Any securities filed in the current year will be subject to these new fees. Please let us know if you have any questions.

Monday, February 12, 2007

The NASVA Executive Board would like to thank you for taking the time to respond to the comment letter we sent out last week. This is the letter that was forwarded to the VOS Task Force from NASVA.

Wednesday, February 7, 2007

This was just brought to the attention of the NASVA Exec Board. Please review the Proposal to restructure the valuation and reporting process submitted to the VOS Task Force by the New York Insurance Department, dated 10/21/06. Please send your comments to Karla Streeter no later than the afternoon of 02/08 . We feel it is important that NASVA provide comments regarding this proposal, as we are always eager to improve on the valuation process at the Securities Valuation Office. Thanks!

Friday, February 2, 2007

The AVS System is online at this time and all requested valuation files are available..

Friday, January 19, 2007

SVO Classification Determination Report 9B has been posted to the SVO web site. You may also view it here.

Wednesday, January 17, 2007

A message from the SVO:

The following enhancements to the ISIS system will be available in production the morning of Thursday 1/18/2007:

2007 Product Codes

All ATFs processed in VOS by the SVO for the 2007 Filing Year will begin to yield new Product Codes and Prices. The 2007 Product Codes will contain an 'X' within their Descriptions.

The current Product Codes and Prices will still incur if 2006 is selected as the Filing Year in VOS.

For the most past, the fee increase grid is as follows:

 2006         2007
 $100         $125
 $200         $250
 $750         $850
$1,000       $1,100
$2,300       $2,600

Filing Exempt Process Change
from 2nd Highest to 2nd Lowest

The Filing Exempt process will now use the 2nd Lowest rating for securities containing split ratings for three or more NRSROs. Notices will be posted on the SVO web page under FE Documentation and the AVS Bulletin to alert our constituents. We're estimating that less than 1% of the designations within the overall FE database (just over 200,000 records) will be impacted by this systems change.

Surplus Notes Filings under Schedule BA

Two new Product Codes were created for Initial Filing ($250) and Annual Update ($125) Schedule BA - Surplus Notes filings.

Filers are currently unable to create Schedule BA - Surplus Notes ATFs in the ISIS/ATF system but can temporarily submit these filings as standard Schedule BA filings where the SVO can easily convert them using a new Security Type option. However, enhancements will be made to the ATF system later this year to enable filers to submit these particular Surplus Notes ATFs through the Schedule BA Asset method.

More detailed information will be coming on this topic for the SVO staff which will also be posted on the SVO web page for insurance companies wishing to file these types of securities.

Thanks,
Rodney J. Cornish
SVO Business Systems Analyst
NAIC -SVO
48 Wall Street, 6th Floor
New York, NY 10005
(212) 386-1933
rcornish@naic.org

Friday, January 12, 2007

The SVO will be closed on Monday January 15th in observance of the Martin Luther King Holiday. E-mails and questions sent to them on Monday will be answered as soon as possible when they return to work on Tuesday.

Friday, January 5, 2007 - 5:51am EST

THE AVS SYSTEM IS NOW AVAILABLE FOR YEAR-END!

Friday, December 29, 2006

The NASVA Executive committee has received many e-mails about the fact that the markets are closing on Tuesday January 2nd because of Ex-President Ford's funeral and how/if this will affect our SVO downloads from Kansas City.

Becky LaPlante assured us that, as far as she knew, this would not have any affect on their processing and we will be receiving our files on time - provided that the beta tester does not find any problems with the files. Becky has promised to keep us informed if she hears otherwise.

Also, a few members of the NASVA Executive Committee provided comments on the Hybrid FAQ that was passed around after the winter meeting. The following is a copy of the draft that was sent back to the NAIC.
HybridFAQ_NASVA PJF 12-28-06.pdf

Please let the Executive Committee know if you have any questions.

Wishing everyone a safe and Happy New Year -

The NASVA Executive Committee

Rose Smith	Toby Horton	Todd Brylow
Kathy Cohoon	Charles Born	Pam Levesque
Judi Hills	Karen Klune	Pat Sullivan
Laurie Armstrong	Karla Streeter

Thursday, December 28, 2006

The SVO has posted Report 9A to their web site.

Report 9A

Wednesday, December 20, 2006

Below are some helpful hints that were send around by one of our NASVA members to possibly assist companies with hybrid determinations.

To identify Trust Preferred securities that trade as Par Value on Bloomberg:

• Bloomberg Product Type (DS 122 Market Sector) Value: Corp or Pfd


• Is Trust Preferred (DS 804) Value: Y


• Trust Preferred Type (DS 790 Real Bloomberg Department) Value: Corp

To identify Trust Preferred securities that trade as Shares on Bloomberg:

• Bloomberg Product Type (DS 122 Market Sector) Value: Corp or Pfd


• Is Trust Preferred (DS 804) Value: Y


• Trust Preferred Type (DS 790 Real Bloomberg Department) Value: Pfd

Thank you and Happy Holidays!
The NASVA Executive Committee

Thursday, December 14, 2006

At the NAIC meeting that was held in Texas this past weekend, the following document was passed around in the VOS Task Force Meeting. It contains an FAQ from the NAIC on some issues that were brought to their attention in regards to hybrid securities. This is just guidance; the P&P manual and SSAPs still take precedence over this document.

Hybrids Draft Q&A.pdf

The NASVA Executive Committee would like your feedback on this document. Please let us know any questions, concerns, comments, etc that you may have in regards to this document.

Wednesday, December 13, 2006

This was just brought to the NASVA Executive committee's attention. The SVO, per Chris Evangel, will not be changing the hybrid common stocks to be preferred stocks and will not be notching these securities. It will be the individual companies responsibility to determine the correct designation to place on each of their hybrid common stocks.

At the NASVA quarterly meeting held in October, we had asked the SVO to rate and notch these hybrid common stocks to create uniformity in the industry, and the SVO at that point had agreed to look into this matter. Now they are citing some system issues that will prevent them from completing this task.

We were informed, at the October quarterly meeting, that the SVO also would not be notching any FE securities in the database.

We do not know much more at this point. If there are further developments, we will notify the NASVA membership via e-mail and an update to this web page.

Monday, November 13, 2006

We have received the following note from Elizabeth Muroski, of the SVO, in regards to reassignment of an analyst's position:

Michael Merrow left the SVO on Friday, 11/10, to start his new position at a banking institution. Robert Nelson, who has been with the SVO for a number of years, will now cover that portfolio.

Friday, November 3, 2006

We are still awaiting a response on the CD ROM issue, but here is what the NAIC is saying about the P&P Manual pricing issue:

In October you contacted Darrell Thacker in our Accounting Office about pricing of the P&P manual. Darrell forwarded your specific questions to me. As I understand it, those were:

1.)  Was there any notification to industry that this fee increased? Also, if this fee increased on 1/1/06, then why does the P&P manual for December 2005 and July 2006 still say the fee is $65?
2.)  You know how we are on fees we only want to pay what is listed in our 'bible' the P&P manual. I think we should only have to pay $65 until the fee is actually changed in the manual.

We have been reviewing this situation and we have made a determination of how we are going to handle this situation. In answer to your question about being notified, the answer is yes, we did notify all existing customers back in December/January that the price was being raised to $100 and posted the new pricing on our web site and in our catalog. Regardless, we realize that there is confusion given that the manual itself lists the price at $65. We apologize for the confusion. What we are going to do is refund $35 of the $100 for each customer that actually paid their invoice. For those that have not, we are going to credit $35 toward the invoice and will request payment of the $65. We will be notifying all of our customers individually of this approach.

Once again, we apologize for any confusion that was caused and will endeavor to avoid that in the future. Please note that the price in the manual will be changed in the upcoming versions and the price of the manual will be $100 for the foreseeable future.

Wednesday, October 25, 2006

The NR/UP and Blank Pricing activation is scheduled to occur on Monday 12/4/2006 during the Pre-Year-End process, i.e. when securities not reviewed for 2006 are assigned NR/UP and marked for deletion as well as when certain prices are blanked.

The VOS database is shut down during these processes but the AVS system will remain available to customers. Pre-Year-End is scheduled to kick off approximately 10:00 AM EST on 12/4 and generally lasts a couple of hours. The Pricing switch will transpire during that time frame.

As for the criteria of creating Pricing Requests under these two filing periods, I have attached the instructions manual currently posted on the SVO web page. The specific rules can be located within the first couple of pages of this document.

SVO_Pricing_Request_ISISATF2005.pdf

Let me know if you have any questions or concerns.

Thanks,
Rodney J. Cornish
SVO Business Systems Analyst
NAIC -SVO
48 Wall Street, 6th Floor
New York, NY 10005
(212) 386-1933
rcornish@naic.org

Wednesday, October 25, 2006

The following enhancements to the ISIS system will be available in production later this week.

VOS-FE Hierarchy
This systems change will be effective on Thursday 10/26/2006. The following notice will soon be posted on the AVS Bulletin Board and the SVO web page under FE Documentation.
VOS-FEChange.pdf

The items below will be in production on Friday 10/27/2006:
Removal of US Government Exempt securities from FE Data File
The SVO has developed a method to identify and remove these securities from FE. It is currently a manual process; therefore these securities will gradually be identified and removed.

Annual Update ATF Forms
For Corporate, CTL and Sovereign Annual Update ATFs where additional CUSIPs are inserted, the resulting ATF form will no longer display strange characters in the Description, Coupon and Maturity sections.

Industry Code of Guarantor
This new field will appear on Annual Update ATF screens and forms along side Industry Code. This value, if available, will automatically be imported from the VOS database and used as the primary key in assigning SVO analysts for Corporate Annual Updates.

New Subsidiary Message on Filing Exempt ISIS Application
The message now states 'This CUSIP has been reported as a subsidiary and may not have to be filed with the SVO'.

Hybrid Common Stock Product Codes
The following new Product Codes have been created to identify hybrid securities classified as Common Stock by the SVO:

Product Code   Description                     Charge
ISI-20027      Init Common Equity-Like Class   $2,300
ISI-20024      Ann Common Equity-Like Class      $750

We reinserted a '$' in front of the Total Shares field on the SCA Valuation letter.

The following enhancements were also made to our internal ISIS applications in this release:

IFSAC Application
PAM Automation
VOS Subsidiary Delete Functionality
VOS Guarantor Search Functionality
Updates Within Internal VOS Billing
Other Back-end ISIS Processing

Tuesday, October 3, 2006

New Dial-In Information for the NASVA Quarterly meetings held in NYC
Beginning with the October Quarterly NASVA meeting, we will begin using Chorus Call for our conference call requirements. All individuals who are planning to call into the meeting need to contact Chorus Call beforehand to set up an account. Each individual will be billed accordingly based on actual minutes you are on the call.

If you currently have an IP Code for use on NAIC conference calls and would like to use the same account contact and billing information, you may do so. Otherwise, you must pre-register with Chorus Call. Please call Chorus Call's Reservations Operations Center at (800) 967-4633 to set up your NASVA account. A credit card will be needed that will automatically be charged for the amount of time you spend on the call.

To participate on the NASVA Quarterly Call please call Chorus Call shortly before the start of the call and ask for the NASVA Quarterly Meeting set up by Kathy Cohoon to be connected. You have two options for calling into the call:

(800) 860-2442 (Toll Free) billed at $0.21 per minute, or
(412) 858-4600 billed at $0.15 per minute

Once you reach an operator, provide your name, company affiliation and IP Code.

If you have any questions, please feel free to contact Kathy Cohoon at (413) 226-1605 or via email at kcohoon@babsoncapital.com.

Friday, September 29, 2006

Please note that "Amended Report No. 9, Dated September 28th, 2006" has been posted to the NAIC/SVO web site.

Amended Report No. 9, Dated September 28th, 2006

Monday, September 18, 2006

The Hybrid RBC (E) Working Group met on Sunday, Sept. 10, 2006. NASVA's Executive Committee member Connie Cox (TIAA-CREF) attended the meeting and presents her notes from the meeting

Check the NAIC's web site for summaries from all of the meetings as they become available: Sept 2006 Meeting Summaries

Check the NAIC's web page dedicated to the topic of hybrid securities:
NAIC Hybrid Securities Page
Hint: Clicking on the "Valuation of Securities Task Force" link on that page will take you back to the SVO's home page. In the right-hand margin, you will find the links to all of the Reports on Securities Classifications.

Friday, August 25, 2006

SVO Publishes 8th Report on Securities Classifications
SVO_Report Of SVO Classification Determination Num 8.pdf

Monday, August 7, 2006

As discussed at the 8/2/2006 Hybrid RBC Working Group conference call, the following PDF document is a memo from Mike Moriarty of the New York Insurance Department. Please note that the Hybrid RBC Working Group has not yet reviewed or voted on this memo.

If you have any questions or issues regarding this note, please contact Todd Sells [(816) 783-8403 or tsells@naic.org] or Dan Swanson [(816) 783-8412 or dswanson@naic.org].
Hybrid Definition & List of Risks

Friday, August 4, 2006

Please note that the following report has been posted to the NAIC web site on the SVO page.
SVO_Report Of SVO Classification Determination Num 6.pdf

Thursday, July 27, 2006

FYI: The NAIC's Hybrid RBC (E) Working Group has scheduled an open conference call for Wednesday, August 2, 2006, from 11:30 am - 1:00 pm EDT.

No agenda or meeting materials have been distributed yet.

Monday, July 24, 2006

Please note that the following report has been posted to the NAIC web site on the SVO page.
Report Of SVO Classification Determination Num 5.doc

Thursday, July 13, 2006

The NAIC will create a new working group to examine risk-based capital (RBC) factors as they pertain to the classification of hybrid securities.
[Press release]

Tuesday, July 11, 2006

IMPORTANT!
Please refer to the attached file for a list of all the July 2006 information request that will expire this month.
(You will need a PDF viewer to open this file.)
You can also view this on the NAIC Web site: http://www.naic.org/svo.htm (see Important Updates).

Wednesday, June 28, 2006

The SVO just posted Report #3 on their website. See attached link... http://www.naic.org/documents/SVO_ReportOfSVOClassDeterminationNum3.pdf

Thursday, June 22, 2006

ISIS June 2006 ISIS/ATF Release Items
The following fixes and enhancements to the ISIS system will be available in production on Friday 06/23/2006. The VOS Admin and Backend listings are enhancements designed to facilitate and improve overall ISIS workflow and processes. Such changes are often transparent to the users but will now be included on future release notices due to their ever increasing significance.

The first three items listed below were either detected and resolved while internally troubleshooting other matters or inserted into the production schedule at the last moment. As a result, we were unable to set up any Beta testing sessions with you. Nevertheless, I believe you'll still find these latest changes beneficial:

1. New Guarantor Industry Code (Pricing Request ATF)
   The online Pricing Request ATF page and Pricing ATF form will display an Industry Code field for a security's guarantor, if available. This field will reflect the value currently in VOS.



2. Corporate/Government Annual Update Change (ATF)
   While creating Corporate and Government Annual Update ATFs within ISIS, filers can only insert CUSIP in the Additional issues section. The resulting ATF cover page will now automatically import issue description, coupon rate and maturity date (from CUSIP feed) for any Additonal CUSIPs.



3. Deleting Newly Created Sub ATFs
   Filers will now be able to retrieve and delete recently created Sub1 and Sub2 filings not yet received by the SVO in the View List of Recently Filed ATFs section of the ATF application.



4. Backend System Conversions
   The items listed below include backend applications recently converted to a new programming language to meet NAIC technical compliance:
   1. Pre Year End Updates
   2. FE Annual History Application
   3. Determine Designation


5. New VOS Admin Applications
   The following items have been implemented to allow the SVO to directly address specific needs without having to depend on the SVO Support Team:
   1. Update Maturity Dates for certain issues
   2. Portfolio Reassignments for Mailroom and Inbasket applications
   3. Update Industry Codes for Issuers
   4. Update Filing Year for ATFs


6. Schedule BA Assets: New Group Code and Security Type Values
   Unique identifiers have finally been established for Schedule BA Assets within the VOS database.
   Group Code 56 has been assigned to identify these securities within VOS, AVS, I-SITE and the VOS CD-ROM.



7. New Broker-Dealer VOS Application
   Similar to the Bank List and Mutual Fund applications, this new online VOS application will contain confirmation, renewal and final notice letter capability as well as Mass Mailings and Export Utility functionality. Since Broker-Dealer applicants will not be using ATFs, the SVO Analyst will directly update this new database (additions/deletions) directly in VOS without the use of the Inbasket.



8. Counterparty VOS Application Expansion
   This application has also been expanded in the same mold as Bank List and Mutual Funds. The Lookup Utility will now include confirmation and renewal letters for all records. Mass Mailings and Export Utility links have also been incorporated. Initial Filing and Annual Update ATFs will still be utilized to maintain this listing.



9. Contact Information Change Letters
   The contact information within the confirmation, renewal and final notice letters for Bank List, Mutual Fund, Counterparty and Broker-Dealer applications will direct customers to the SVO Inquiry Desk and main SVO number to address any inquiries. The appropriate analyst will still be contacted through either channel.

Thursday, June 15, 2006

The NAIC is planning a joint hearing in July on hybrid securities.
[Press release]

Friday, April 28, 2006

The Hybrid listing has been updated! You may either click to open this spreadsheet, or right-click and choose "Save Target As...". The previous link (from April 3rd) has been disabled to avoid confusion.

HYBRID_listing042806.xls

Thursday, April 13, 2006

Please be advised that the New York Department of Insurance will hold a listen-only conference call (followed by a Q & A segment) related to Hybrid securities moderated by Michael Moriarty. The call will take place on Wednesday, April 19, 2006 at 10:00 a.m.-11:30 a.m. Eastern Time.

The purpose of the call is to discuss the regulatory context and significance of the SVO decision related to the classification of hybrid securities. SVO representatives will participate. The NAIC is facilitating this conference call. The New York Department of Insurance will issue a press release providing greater detail on the conference call.

A Chorus Call Interested Party "IP Code" is required to enter all NAIC conference calls. The Interested Party will only be billed for the actual amount of time they participated on the call ($.15 cents per minute). Interested Parties who require an "IP Code" may contact Chorus Call at 1-800-967-4633 to register. You will receive an email with your "IP Code" and conference information prior to the call.

Moderator: Michael Moriarty
Date: 4/19/06
Time: 10:00 a.m. Eastern Time
Conf. Call Name: NAIC Moriarty

---

Also, here is the current SVO contact list, effective March 2006  
(You will need a PDF viewer to open this file.)

Monday, April 3, 2006

Attention all NASVA members! As many of you are aware, over the last few months the State of New York has instructed many of its domestics to file certain hybrid securities (trust preferreds, capital securities, Tier I, step-ups, etc.) with the SVO. Attached is a list of all such known filings. If you are aware of any additional filings, please let us know so we can update our list. In addition, please let us know if you have been contacted by your regulator and asked to file these types of securities with the SVO. You may either click to open this spreadsheet, or right-click and choose "Save Target As..."

HYBRID_listing.xls

Be aware that securities previously reported as Filing Exempt may now appear in the VOS database with 2006 review dates.

The Executive Board plans to hold a session on hybrid securities at the Annual Conference - if you have any ideas as to session content, presenters, etc. please contact one of the Board members. We would appreciate your responses no later than next Friday, April 7th. Thanks for your time!

Thursday, March 23, 2006

There are a couple of helpful items on the SVO web site that are informative to the industry:

• The banks on the Counterparty List will be expired on 6/30/2006 unless renewed
• Statement On Classification Analysis

Please refer to the Important Updates section on the SVO's web site http://www.naic.org/svo.htm for more information

Monday, March 20, 2006

The list of Foreign Reconciliations is now available on SVO website
see http://www.naic.org/svo.htm for more information

Wednesday, March 8, 2006

***Fifth NRSRO Added By SVO***
Please read this PDF for more information:

Thursday, March 2, 2006

***NAIC Waives Assessment Fee***
Please refer to the attached link for NAIC news release on this subject: http://www.naic.org/Releases/2006_docs/NAIC_waves_assessment.htm

Wednesday, March 1, 2006

The latest RSAT Index List is currently available under the AVS/ISIS Information section of the SVO web page (http://www.naic.org/svo.htm) for your convenience. This listing will be accessible on the VOS CD-ROM at a later time.

Monday, February 27, 2006

The following fixes and enhancements to the ISIS system will be available in production on Friday 02/24/2006. The VOS Admin and Backend listings are enhancements designed to facilitate and improve overall ISIS workflow and processes. Such changes are often transparent to the users but will now be included on future release notices due to their ever increasing significance.

1. ISIS Prepay/Renewal Billing Modifications
   All completed Bank Letter of Credit, Mutual Fund, Derivative Counterparty and Surplus Note ATFs will now be processed through the standard ISIS Billing as opposed to the prepaid method. ATF forms and confirmation/renewal/final notice letters within VOS have been modified to reflect these new procedural changes.
   
   The following fee increases are in effect within ISIS Billing:
   Bank Letter of Credit Initial (ISI-15001) - $1,100 to $1,500
   Bank Letter of Credit Annual (ISI-15002) - $220 to $500
   Mutual Fund Initial (ISI-16001) - $400 to $500
   Mutual Fund Annual (ISI-16002) - $100 to $250



2. 'Sovereign and Supranational' Department
   This department was introduced in January 2004 for billing purposes where the SVO can only assign the value within VOS. The online ISIS workflow system has finally been expanded for filers to create Sovereign ATFs from filers with Foreign Government and Supranational Entity as its Security Type options. These new 'Sovereign' ATFs will be flow through the Mailroom, Inbasket and VOS like any other ATF.
   


3. Group Code 99 Letter - Company Name
   The Insurance Company's name has been inserted onto the header of the Group Code 99 letter along with contact name and address.
   


4. SCA Filings - Fee Increase
   All completed Sub 1 (ISI-14001) and Sub 2 (ISI-14002) transactions will yield a fee of $500 instead of $250.
   


5. Updated Intangible Asset Error Message (Sub 2 ATF)
   Filers would often contact the Help Desk in KC when this message appear leading us to update it to inform filers to directly contact Richard Newman instead.
   


6. Importing Supporting Entity Information (Annual Update ATFs)
   The ATF application will now import and display Guarantor information (if available) for existing VOS securities on Annual Update ATF screens. The Guarantor Name, Issuer Number and corresponding Industry Code will also populate the ensuing ATF form and used for SVO Analyst assignment within the Mailroom application.
   


7. Cover Letter Added to Additional Information Check List of Schedule BA ATFs
   The Additional Information Check List for both Initial Filing and Annual Update Schedule BA ATFs will include a requirement for filers to submit a Cover Letter under specific guidelines described within the check item.
   


8. Functionality Added to Enable Filers to Reprint Recently Created ATFs
   The ISIS/ATF application has provided a new feature to allow insurers to retrieve their newly created ATFs not yet received (scanned) by the SVO office. Details of this new functionality will be included on the Getting Started in ISIS instructions posted on the SVO web page (http://www.naic.org/svo.htm) - See AVS/ISIS Information section.
   


9. ISIS Help Index - ISIS/ATF application
   The hard copy and online sections have been updated to include the new Sovereign and Supranational
   


10. Pricing ATF Glitch
    It was discovered during the 2005 Year-End interval that several newly created Pricing Request ATFs were not able to scan into the SVO Mailroom application and electronically route to the appropriate SVO Analyst. Under this scenario, the SVO Analyst received the hard copy in a timely manner and manually processed the request. A small glitch was identified and resolved to alleviate that inconvenience.
    


11. VOS Admin Additions
    The following items have been implemented to allow the SVO to directly address specific needs without having depending on the SVO Support Team:
    • Maintaining SVO Analyst Inbasket Viewing Privileges
    • Modifying Pertinent ATF Information for Billing Purposes
    • Restoring Securities Recently Deleted from VOS Database (Will require special permission to execute)
    • More VOS Admin features will be implemented in future ISIS Releases.


12. Backend System Conversions
    The items listed below include backend applications recently converted to a new programming language to meet NAIC technical compliance:
    • Online SVO Mailroom
    • Determine Designation
    • IDSI Ex-Dividend
    • Foreign Exchange Rates
    • Delete NR/UP Conversion
    • Delete NR/UP Reports
    • IDSI Pricing
    • NRSRO Ratings
    • VOS CD-ROM