July 01, 2003 at 08:00 PM
NU Online News Service, July 1, 2003, 1:14 p.m. EDT – The Insurance Marketplace Standards Association, Washington, has updated its Independent Assessment Manual.
IMSA, a voluntary, nonprofit organization, tries to encourage ethical behavior at life insurance companies by requiring that member companies comply with the IMSA Principles and Code of Ethical Market Conduct.
Member companies must first assess themselves, then hire independent assessors to evaluate their sales and marketing practices.
The new assessment manual includes new standards to ensure that assessors are independent and free of conflicts of interest with the companies under review, IMSA says.
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