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FAQ - Structured Securities
Reporting Interface
Contacts for RMBS / CMBS Initiative

The NAIC looks forward to working with insurers to provide the appropriate structured securities information to facilitate the year-end Annual Statement filing process. Please direct inquiries as follows:

NAIC Help Center (login with your VISION or AVS+ ID to create a help request)

Statutory accounting and/or RBC treatment: 816-783-8400, select RMBS option.

Billing or AVS+ questions:  816-783-8300, select option #5 or

Questions pertaining to modeling process, analytics & results: 212-398-9000 or


Frequently Asked Questions

Understanding the Modeled Data
The price grids are derived for every Cusip from two different sets of Risk-Based Capital charges (C1). One is for insurance companies maintaining Asset Valuation Reserve (AVR) for Life and Fraternal, and the other one is for the insurance companies that do not maintain Asset Valuation Reserve (Non-AVR) for P&C, Health, and Title. Both Price Grids were derived from the same Intrinsic Price, "100 – Discounted Expected Loss (% of remaining par)". Further clarification can be found in the Breakpoint Calculation.

Initial invoices are released in November annually for the RMBS/CMBS modeled results. An email containing the invoice information will be sent to the lead contact for a group of companies or the annual statement filing contact for an individual company. The invoice amount will reflect the company's holdings of RMBS and CMBS securities on the most recent annual statement and/or Quarter 1 and 2 statement filings.

Payments for the entire amount of the initial invoice must be received by the NAIC Finance Department in order to activate access to the Structured Securities information. Payments can be made by mailing a check to the address shown on the invoice or insurers may also pay by credit card using the NAIC's Account Manager. For companies in an insurance company group, payment is required to be made by the lead contact for the group and payment for the entire group must be made prior to the NAIC activating access to RMBS/CMBS information.

Insurers who did not own any CMBS or RMBS holdings as of yearend annually or did not purchase any RMBS or CMBS during the first six months of the current year will not receive an initial invoice. However, they are welcome to purchase securities that are being modeled by requesting access to the AVS+ application by calling (816) 783-8300.

Once the initial invoice has been paid for the entire insurance company group, or the individual company if billed at the company level, insurers may use the login ID and password to the AVS+ application to purchase modeled results for additional securities.

Helpful Information