Dear IMSA Friends: 

Just a short update this month, but that’s good news.  It means we’re busy with assessments and other good stuff.  Please read on.

See you in Arizona?

See you in September?  We hope so.  We’re sponsoring a free Wall Street Journal when you show up for the IMSA Best Practices Workshop., courtesy of the Kenneth J. Kalis Company.  Please read on for more details about the Workshop.

 "Senior Protection" Announced as Focus of Upcoming Insurance Compliance Best Practices Workshop

 BETHESDA, MD--(Marketwire - May 28, 2008) - Suitable sales to seniors. Seminar selling. Senior designations. These are just some of the issues on the minds of both consumers and the insurance industry, creating a unique opportunity for ethical companies to step forward with model policies and procedures for marketing and selling to seniors.

To that end, the Insurance Marketplace Standards Association (IMSA), whose qualified companies represent the industry's benchmark of excellence in ethical business practices regarding the advertising, sales, and service of annuities and other life insurance products, will highlight "Senior Protection" issues at its annual Compliance Best Practices Workshop on September 10-12, 2008, in Scottsdale, Arizona.

 Workshop participants will interact with their industry colleagues and regulators, as well as exchange ideas and best practices on current compliance issues. While ethical sales to seniors are of current concern, IMSA emphasizes high, verifiable standards of ethics excellence for all consumers, who, regardless of age, deserve to be treated fairly.

 "From agent training to sales practices, companies want to know the best methods available for maintaining compliance while reaching their customers with respect," says IMSA CEO Brian Atchinson. "IMSA leads this effort to provide compliance solutions for ethical companies and to protect consumers who invest their trust in the life and annuities industry."

 Online registration is available at www.IMSAethics.org.

See you in Toronto first?

Kalis to Mark 10^th Year at ACLI Compliance Section Meeting in Toronto

We are pleased to again be a part of  the 2008 Compliance and Legal Sections Annual Meeting at the Fairmont Royal York in Toronto, Ontario Canada  July 9 through July 11. 

Please stop by our booth and say “hello.”

Program Highlights

The 2008 program contains shared views about compliance and legal operations and how we are affected by business models to the economy to how we incorporate the outside world into our strategic plans;  suitability – looking forward where are we headed; STOLI/Life Settlements; Principles Based Regulation to name a few. Click here for Program

Exhibitor Marketplace

The Exhibit Marketplace will be held on Thursday, July 12.  The Exhibit hall will be open from 3:30 – 4:00 pm and 5:30 – 7:30 pm. This offers attendees first-hand opportunities to view products and special services that are available to enhance legal and compliance shops.  Exhibit and Sponsor information is located on our website. 

 Registration

Online meeting and hotel registration is open! Register now - early – bird deadline:  June 16;

Hotel Deadline:  June 16 or once the block is filled.  Click here

PASSPORTS REQUIRED

Canada requires a passport for entry. Click here for information to apply or renew. http://travel.state.gov/travel/cbpmc/cbpmc_2223.html. Processing may take up to 12 weeks.

Excerpts from

IMSA Today                                                     May 29, 2008 

Clearinghouse Resources Added to New IMSA Web Site

 The IMSA Annuity Suitability Certification Clearinghouse has a new look on IMSA's web site at www.IMSAethics.org. Just click on "Clearinghouse QuickStart" and you'll find annuity certification information for both the companies and third-party distributors that the Clearinghouse serves, including Frequently Asked Questions and easy enrollment and subscription options. 

 The Clearinghouse continues to expand, with more than 500 third party distributors enrolled (at no cost to them) to date. To learn more about IMSA's Clearinghouse, visit www.IMSAethics.org or contact John Dohmen at (240) 744-3023.

Oregon & Ohio Join Annuity Supervision Initiative

Oregon Insurance Division Administrator Scott Kipper and Ohio Department of Insurance Director Mary Jo Hudson joined New Hampshire, Iowa, Missouri, and Illinois state regulators in requesting that IMSA conduct a review of annuity supervision and monitoring practices to help guide regulators as they conduct reviews to determine compliance with the NAIC Suitability in Annuity Transactions Model Regulation.

 IMSA's Annuity Suitability Supervision and Monitoring Working Group continues to progress in compiling the range of practices used by companies to supervise and monitor the sale of variable, fixed and indexed annuities, and is on track to release its findings no later than September, 2008.

Brian Atchinson and Don Walters will meet with representatives of the states requesting the review during the NAIC Summer National Meeting in San Francisco, CA (May 31 – June 2^nd) to provide them with an update report concerning recent activities pertaining to the supervision and monitoring review.

Distribution Compliance to be Highlighted at Upcoming

IMSA Board Meeting

As part of IMSA's commitment to meet company needs regarding distribution and sales, IMSA has invited a leading national producer, Cliff Wilson, President-Elect of the National Association of Insurance and Financial Advisors (NAIFA), to appear at the upcoming Board meeting on June 11th to discuss the heightened needs and challenges in this arena.

Upcoming Meetings    

May 31- June 2          NAIC Summer 2008 National Meeting in San Francisco, CA

 June 2                        Qualification Process Working Group Call

 June 6                        Standards Advisory Committee Meeting in Bethesda, MD

June 9                        In the Flow Manufacturers Working Group Conference Call

 June 11                      IMSA Board of Directors Meeting in Bethesda, MD

 June 13                     Communications & Outreach Working Group Conference Call

 June 22-26                 MDRT Annual Meeting

September 10-12      IMSA Best Practices Workshop in Scottsdale, AZ

News from the Kenneth J Kalis Company

 We are keeping busy with ongoing assessments  as well as serving on an IMSA Working Group and Subcommittee.  We are finishing up assessments for two companies in June, and working with one other smaller company and one fleet to complete two others.  Please let us know if you have IMSA issues or need any help implementing best practices.  Read on for the best practice of the month.

Best Practice of the Month - May

Can you stand one more on complaint resolution?  Next time we’ll go to another one, I promise.  Getting agent input on complaints is an issue for many companies.  I’ve just come across a best practice in one company that sends every agent mentioned in a complaint a “We Need Your Help” letter explaining that there are two sides to every story, and that the company values what the agent has to say.  Attached to this is a “Preparing Your Response” guideline with FAQ’s that help boost the response rate   Couple this with a 24-hour fax delivery and a next day follow-up call, and you will cut complaint resolution time and improve the quality of your resolutions.  At the same time you’ll get your agents involved and deliver a strong message that you care about your customers.