The Insurance Marketplace Standards Association says Boston Mutual Life Insurance Company no longer belongs to the association.[@@]
IMSA, Washington, is a life insurance industry marketing standards group. IMSA members must undergo a review every 3 years.
Boston Mutual, Canton, Mass., a company that joined IMSA since 1999, sells life insurance through a network of thousands of non-exclusive producers.
IMSA dropped Boston Mutual mainly because Boston Mutual had problems with several of the producers, who eventually were terminated, according to Walter Gorski, Boston Mutual’s general counsel.
Boston Mutual believes that the outbreak of producer problems was a fluke and not the result of any serious weaknesses in the company’s supervision system, Gorski says.
“We think IMSA is a great organization,” Gorski says. “We were members, and we plan to be members again. We do plan to reapply for certification when we’re eligible to do so.”