SVO Publications

Capital Markets & Investment Analysis Office

SVO Publications

This page contains links to obtain SVO publications, such as the Purposes and Procedures Manual.

Purposes and Procedures Manual

Click here if you are interested for more information about purchasing the Purposes and Procedures Manual.

SVO-PAR

The Securities Valuation Office produces a Portfolio Analysis for Regulators (SVO-PAR), which is a tool for state regulators to use in conducting financial examinations. At the request of an Insurance Department, the SVO - Investment Research Unit ("IRU") will utilize a company’s investment information, which is required by the annual statement filing, to analyze the investment portfolio of that company. A final report summarizing the SVO’s findings is provided to the Department.

Any regulators who are interested in obtaining an SVO-PAR should contact the SVO at 212.398.9000.

SVO New Filing Instructions

New Filer Instructions

These instructions should be followed by insurance companies who have never filed with the SVO before or non-insurance companies who are, for the first time, filing on behalf of an insurance company client (filing agents).

Insurance Companies

  1. Request the Purposes & Procedures Manual of the NAIC Securities Valuation Office from the NAIC Insurance Products & Services Division (816.783.8300). You will be billed for this publication.
  2. You will need to file any security that you own that has not already been filed by another insurance company with certain exceptions as described in the P&P Manual.
  3. Securities are filed with the Securities Valuation Office through VISION
  4. You will need a User ID which you can get from the NAIC Help Desk at 816.783.8500.
  5. Once you receive your ID and gain access to VISION, you will navigate through a series of screens applicable to the type of security you wish to file with the SVO.

Non-insurance companies filing on behalf of an insurance company client (filing agents)

In addition to the instructions outlined above, filing agents have another step they must follow before they can file for their insurance company clients.

Each insurance company client must submit a letter on its own letterhead authorizing the filing agent to file on its behalf. Address the letter as shown below and then e-mail a PDF of it to SVOInquirydesk@naic.org

The NAIC Help Desk will not issue an ID until this letter is on file with the SVO.

Sample TPA Letter

SVO Capital Markets

SVO Capital Markets

The Capital Markets Bureau is located in the NAIC’s New York City office. Its mission is to support state insurance departments and other NAIC staff on matters affecting the regulation of investment activities at state regulated insurance companies.

The Capital Markets Bureau monitors developments, trends and activity in the financial markets generally, and specifically with respect to the insurance industry.

  1. Issues that are of interest to state insurance regulators are reported periodically through regularly scheduled publications and through ad hoc reports.
  2. The group does independent research on investment issues and responds to requests from state insurance regulators.
  3. The group assists in examinations, through analysis of investment portfolios, discussions with examiners and, as requested, participates in on-site examinations.

The group provides other training, education and analysis support. It participates in discussions with other financial regulators and assists other NAIC staff in those efforts.

The Capital Markets Bureau supports Financial Regulatory Services and Insurance Analysis & Information Services, to identify potentially troubled insurers and market trends that may have a material impact on the investment profile of the insurance industry as a whole. The group also works collaboratively with Government Relations staff developing comment letters, briefings and related materials; serving as a technical resource to Congressional/federal/state officials regarding NAIC policy positions on insurance financial regulation and capital markets.

The Capital Markets Bureau takes an active role with respect to issues concerning the Valuation of Securities Task Force and the Invested Assets Working Group. In addition, the group supports the Statutory Accounting Principles Working Group, the Emerging Accounting Issues Working Group, and the Capital Adequacy Task Force, along with its working groups, as well as the work of other NAIC groups to the extent that their work is impacted by investment issues.

The Capital Markets Daily Newsletter is an email product distributed at the conclusion of each day. It provides brief summaries of financial market performance and the developments that impacted it. It is supplemented from time to time with weekly summaries that aggregate significant items that affected the insurance industry and state insurance regulation. Capital Markets Special Reports focus on more detailed and specific analysis of issues that have the potential of impacting insurance company investment portfolios. CLICK HERE to subscribe.

Investment Analysis Reports: As requested by state insurance departments, the Capital Markets Bureau analyzes the investment portfolios of state regulated insurance companies. A written report is provided, focusing on issues that may be of concern, specifically on those factors that may increase volatility within the insurer’s portfolio or which may have an impact on the insurer’s solvency. In addition, the group can provide additional on-site support on investment issues.

Any state insurance department that is interested in such support should contact the Capital Markets Bureau by sending an email to Edward Toy at etoy@naic.org.

SVO Bar Codes | Installing Bar Code Fonts

Installing Bar Code Fonts

The SVO requires that all ATF forms received have a Barcode.  Therefore, it is necessary to insure that the 3of9.ttf barcode font is installed in your PC fonts folder. Following are instructions for installation of the barcode font.

How to install the bar code font for customers who formerly used EFORMS:

  1. From your desktop, click on My Computer.
  2. From within the My Computer window, click on the Control Panel icon.
  3. From within the Control Panel window, click on the Fonts icon.
  4. From the Fonts window, click on the File drop down menu, and choose Install New Font.
  5. In the Add Fonts window, choose the drive and folder where e-forms is loaded. Use the C:\ drive and EFORMS folder.
  6. Double click on the EFORMS folder and the 3 of 9 Barcode font should display under the list of fonts
  7. Select the 3 of 9 Barcode and click OK.
  8. The 3 of 9 Barcode should now appear in the Fonts window.
  9. Close the Fonts, Control Panel, and My Computer windows.

How to install the bar code font for new ATF users:

  1. Right mouse click on this link.  3of9.ttf.
  2. Select "Save Target As" or "Save Link As" from the pop up.
  3. Save the file to C:\Windows\fonts.
  4. The 3 of 9 Barcode font should now appear in your fonts folder and should print
    on the ATF form.

Public Lead State Report

Public Lead State Report

The Most Recent Lead State Report

In recent years, there has been significant discussion on group supervision. The collective state insurance departments (through the NAIC) have been further developing their lead state concept and have incorporated aspects of this concept into state insurance law. Specifically, the NAIC Insurance Holding Company System Regulatory Act (#440) and the Risk Management and Own Risk and Solvency Assessment (RMORSA) Model Act (#550) refer to filing certain reports with the lead state commissioner. The Lead State is generally considered to be the one state that “takes the lead” with respect to conducting group-wide supervision within the U.S. solvency system. The concept of Lead State is not intended to relinquish the authority of any state, nor is it intended to increase any state’s statutory authority or to put any state at a disadvantage. It is intended to facilitate efficiencies when one state coordinates the regulatory processes of all states involved.

A decision of a Lead State encompasses input from all domestic state insurance regulators of the group where a majority of such domestic states must agree to the decision.. The determination of a Lead State is impacted by the following factors:

  • The state with the largest market share by direct premiums written
  • Domiciliary state/country of top-tiered insurance company in an insurance holding company system
  • Physical location of the main corporate offices or largest operational offices of the group
  • Knowledge in distinct areas of various business attributes and structures
  • Affiliated arrangements or reinsurance agreements

In order to assist with identifying the lead state for all groups that hold more than one U.S. insurer, the Lead State report is available for use in submitting the Enterprise Risk Report (Form F).

NAIC Uniform Review Standards Checklists | Industry Rates & Forms Filing

NAIC Uniform Review Standards Checklists - Rates & Forms Filing

The Review Standards Checklists Subgroup of the Improvements to State-Based Systems Working Group presents the following for use by the insurance industry and state regulators to promote uniformity and speed to market in the filing process.

  • Review Standards Checklist Best Practices
  • Instruction for Completion of Checklists
  • Twenty Property & Casualty Checklists
  • One comprehensive Life, Accident & Health, Annuity and Credit Checklist

The Instructions for Completion of the Checklists will introduce the filer to the new checklist format. The filer will need to match the Line of Business to be filed with the proper checklist. The checklist selected may then be completed for submission to the state(s). Below are listed by Line of Business each of the uniform review standards checklists. Just click on the appropriate program (i.e., Word; PDF; Excel) to open the checklist to begin the filing submission process.

General Information

Life & Health

Property & Casualty

Self-Certification Pilot Program | Industry Rates & Forms Filing

Self-Certification Pilot Program
Alabama Illinois Montana Rhode Island
Alaska (Pilot Program) Indiana Nebraska South Carolina
Arizona Iowa Nevada South Dakota
Arkansas (Pilot Program) Kansas New Hampshire Tennessee
California Kentucky New Jersey Texas
Colorado Louisiana New Mexico Utah
Connecticut Maine New York (Pilot Program) Vermont
Delaware Maryland North Carolina Virginia
District of Columbia (Pilot Program inactive) Massachussetts North Dakota Washington
Florida Michigan Ohio West Virginia
Georgia Minnesota (Pilot Program) Oklahoma (Pilot Program) Wisconsin
Hawaii Mississippi Oregon Wyoming
Idaho Missouri Pennsylvania  

 

Product Requirements Locator Contacts | Industry Rates & Forms Filing

Product Requirements Locator Contacts - Rates & Forms Filing

 

If you are a state user interested in using the Product Requirements Locator, please contact:

SERFF Marketing Team
serffmktg@naic.org
(816) 783-8787

For technical questions please contact:

SERFF Help Desk
serffhelp@naic.org
(816) 783-8990

If you are interested in obtaining IDs, please contact your DP Coordinator (I-Site+ Administrator) or call the SERFF Help Desk with the following information:

Your Name
Title
Phone Number
Email Address

Your ID and PW information will be emailed back to you within one business day.