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NAIC Securities Valuation Re-Opening Next Week

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NU Online News Service, Sept. 14, 10:11 a.m. – The Securities Valuation Office, the securities filing unit of the National Association of Insurance Commissioners, Kansas City, Mo., says it will announce a new New York location soon.

The SVO office was headquartered in Manhattan World Trade Center Building 7, a 47-story building across the street from one of the two famous trade center towers that was destroyed Sept. 11 by terrorist attacks. Building 7 collapsed several hours later, after workers and visitors had evacuated, as a result of the fires, explosions and other effects of the terrorist attacks.

Kristin Welschmeyer, an NAIC spokeswoman, emphasized that staff at both the old SVO location and the Washington locations are safe.

She said the new office space will be opened next week.

Data filed by insurers has been backed up electronically in the NAIC’s main office, according to Welschmeyer. Paper filings have been lost and may have to be resubmitted, according to Welschmeyer.

Companies can still file their securities with the SVO through its electronic filing system, she added