Two state departments of insurance are urging insurers to become members of the Insurance Marketplace Standards Association.[@@]
In memos to life insurance, annuity and long term care insurance companies operating in their states, insurance commissioners of both Iowa and North Dakota issued what amounted to an official stamp of approval for IMSA, Washington. The group is a nonprofit organization that sets ethical standards for the marketing of individual insurance products.
Iowa Commissioner Susan Voss also issued a bulletin to all life insurers licensed in the state announcing examiners for the state’s division of insurance will ask specifically whether the companies are members of the IMSA.