The head of an industry standards group says insurance companies need to impose strict ethical standards to hold on to consumer confidence.[@@]

“Companies can’t fake it when it comes to ethical business practices,” said Brian Atchinson, executive director of the Insurance Marketplace Standards Association in a talk at the Executive Summit for the Center for Business Intelligence in New York.

“Maintaining high standards of ethical behavior, integrity and transparency through well-defined rules and procedures helps a corporation earn an excellent reputation among consumers who will have greater confidence in the products they purchase,” he said.