Filings for the Investment Valuation Subsystem Under the Financial Examinations Monitoring System

State of New Jersey DEPARTMENT OF BANKING AND INSURANCE OFFICE OF THE COMMISSIONER PO BOX 325 TRENTON, NJ 08625-0325 Tel (609) 292-5360 ___________________________________________________________________________________________ Visit us on the Web at www.njdobi.org New Jersey is an Equal Opportunity Employer ? Printed on Recycled Paper and Recyclable JAMES E. MCGREEVEY Governor HOLLY C. BAKKE Commissioner BULLETIN N0.: 03-34 TO: TO ALL DOMESTIC INSURERS FROM: HOLLY C. BAKKE, COMMISSIONER RE: FILINGS FOR THE INVESTMENT VALUATION SUBSYSTEM UNDER THE FINANCIAL EXAMINATIONS MONITORING SYSTEM N.J.A.C. 11:19-2 establishes the data submission requirements for all domestic insurers under the Financial Examinations Monitoring System (“FEMS”) subsystems. The Investment Valuation Subsystem (“IVS”) filing requirements are set forth in N.J.A.C. 11:19-2.4. The current rules provide that the information be filed either on a cartridge (3480 model) or computer tape (6250 BPI, IBM compatible). This, however, is not the current standard media utilized for electronic data, and thus hampers the ability of the Department of Banking and Insurance (“Department”) to review the data submitted, as well as the ability of insurers to submit the data in the required format. Accordingly, the Department is requesting that domestic insurers file required IVS submissions within the timeframe set forth at N.J.A.C. 11:19-2.3(a) on CD-ROM or DVD-ROM. The Department also will be developing amendments to the existing rules to be proposed in the future to reflect this change in the media of the submissions, as well to make other format changes deemed appropriate. Finally, domestic insurers should notify their custodians of the essential terms of this Bulletin. 2 Questions regarding IVS submissions may be addressed to Robert Kasinow, Assistant Chief Insurance Examiner, Office of Solvency Regulation, at (609) 292-5350 x50081. 12/12/03 /s/ Holly C. Bakke Date Holly C. Bakke Commissioner