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July
Update
It was great to see so many of you at the ACLI
Compliance Section Meeting in Toronto.
I drove all the way up there from
Florida, and had a wonderful time.
This was the 10th year we
supported the meeting by having a booth at the
Exhibitor Marketplace.
We saw many old friends there and began
some new relationships.
From Toronto, I drove to Brant Lake, NY where
most of the photos you see in this edition were
taken.
It’s good to be back home in Florida where we
are keeping very busy with assessments, updating
software and publications and keeping involved
with IMSA via committee work.
We do have some open time in the next few
months to help new customers with IMSA issues,
so give us a call
at 386-462-1074 with any questions you may have.
That’s my son Jonathan and I atop Paradise Mountain
looking down on Lake George, NY.
What a view!
Tennis Anyone?
Are you signed up for the IMSA Best Practices
Workshop in Scottsdale?
Be sure to come, and you’ll get a free
copy of the Wall Street Journal courtesy of the
Kenneth J Kalis Company.
I plan on arriving on Tuesday afternoon
with my tennis racquet.
If anyone is up for a set or two please
let me know.
Are you signed up for the IMSA Best Practices
Workshop in Scottsdale?
Be sure to come, and you’ll get a free
copy of the Wall Street Journal courtesy of the
Kenneth J Kalis Company.
I plan on arriving on Tuesday afternoon
with my tennis racquet.
If anyone is up for a set or two please
let me know.
Kalis
Among Sponsors of IMSA Workshop
The Kenneth J. Kalis
Company is proud to continue its ongoing support
for and commitment to IMSA and its standards and
ideals. We join these other fine sponsors in
encouraging you to come to this great event!
 
 
2008 Compliance Best
Practices Workshop
– Senior Protection
Date / Time: September 10-12, 2008
Duration: 3 Days
Location: Camelback Inn,
Scottsdale, AZ
Join us as we explore senior suitability,
designations, seminar sales, agent training and
sales practices with the valued senior consumer
in mind.
Ready
to take home real solutions that you can
implement immediately? Beyond senior protection,
we will also share best practices in other life
insurance arenas that will provide multiple
solutions to your compliance challenges.
Don’t
miss this unique forum where you can interact
with your industry colleagues and regulators,
and exchange ideas on the current compliance
issues life insurance companies must face in
today’s marketplace.
*
* Just Added *
*
Re-Qualification Training – This training is for
members that plan to take advantage of the new
Re-qualification Process.
(Please see
General Information Sheet for more details.)
Cost:
Attendee Type: By 7/18/2008 After
7/18/2008
IMSA
Member $695 $750
IMSA
Assessor $695 $750
Nonmember
$895 $950
General Information Preliminary
Agenda Fax
Registration Form
Sponsorship Opportunities Sponsorship
Fax Form
Visit
www.IMSAethics.org
for an updated Agenda, hotel information or to
register online. Note that our room block at the
Camelback Inn expires on August 8th,
2008, so we recommend that you contact the hotel
today in order to secure your accommodations.
Excerpts from:
IMSA Today
July
24, 2008
IMSA Annuity Supervision & Monitoring Initiative
Nears Completion
Demonstrating compliance requires a clear
understanding between companies and regulators
about which practices may be deemed "compliant."
To that end,
at the request of seven states,
IMSA is undertaking a review of annuity
suitability supervision and monitoring practices
which is nearing its September, 2008 completion
date. Recent highlights include:
-
On Monday, July 14th,
IMSA staff met with representatives of the
requesting states at the offices of the
Illinois Division of Insurance in
Chicago.
-
On Thursday, July 17th,
the IMSA Annuity Suitability Supervision
& Monitoring Working Group reviewed the
regulators' feedback, and met via conference
call on
Wednesday, July 23rd,
to discuss additional refinements that will
be incorporated into a fourth draft of the
report.
-
The report is scheduled for dissemination
for comment by all IMSA-qualified companies
during the month of August.
-
A complete and final report
is targeted for completion in September,
2008.
Annuity
Clearinghouse Distributor Enrollment Rolls
Forward
Although it's only been a few months since the
Annuity Suitability Certification
Clearinghouse launch,
more than 650
third party distributors
have enrolled at no cost to them. System
functionality has also been enhanced in recent
weeks, making the Clearinghouse system even
easier to use.
Don't miss our advertisements in the July
issues of Best Review and Broker World
magazines this month, and be sure to visit the
Clearinghouse Quick Start
at
www.IMSAethics.org.
IMSA Addresses NAIC Annuity Suitability Working
Group
On July 21st, Don Walters was invited
to offer remarks about IMSA's review of
supervision and monitoring practices during a
conference call of the NAIC Suitability of
Annuity Sales Working Group. Since the draft
report remains a work in progress, Don shared
recent activities pertaining to development of
the report, including the fact that it describes
supervision and monitoring practices applicable
to fixed, indexed and variable annuities as well
as several distribution channel types.
He emphasized that supervision and monitoring
systems must be tailored to meet the unique
size, organizational structure, product mix and
distribution system characteristics of each
company. The NAIC Working Group is monitoring
IMSA's progress with regard to its review of
supervision and monitoring practices and awaits
the issuance of its final report.
IMSA on the Road
-
At the August, 2008
Annual IRES Career Development Seminar
in St. Louis, Missouri,
Brian Atchinson will serve on a panel with
Iowa Department of Insurance Deputy
Jim Mumford
and IMSA Board member and AXA Equitable Life
Insurance Company Executive Vice President
and General Counsel
Richard Silver
regarding annuity suitability entitled
Suitability - A Conundrum for Enforcement
and Compliance.
Upcoming Meetings
August 10-12
2008 Annual IRES Career Development Seminar
The Gateway to Regulator Excellence
in St. Louis, MO
August 19 In the Flow
Joint Working Group Conference Call
September 6-10
NAIFA Annual Convention in San Diego, CA
September 10
Requalification & Reinstatement Training Session
in Scottsdale, AZ
September 10-12 IMSA Best
Practices Workshop in Scottsdale, AZ
October 17
IMSA Communications & Outreach Working Group
Meeting in Washington, D.C.
October 21
IMSA Board of Directors Annual Meeting in
Boston, MA
Did You Know…..
The Kenneth J Kalis Company website is home to
all the best practices and updates since
September 2001 and Excelsior newsletters going
back to the first quarter of 2001?
‘Tis true, as the Irish would say.
You can find a wealth of information
about IMSA and our company and its services at
the site.
http://kkalis.com/
Best Practice of the Month - July
Making sure independent agents have the product
knowledge necessary to meet IMSA’s needs
analysis and suitability standards is always a
topic of interest.
Back in May of 2006, we reported a best
practice from a company that required agents to
study and pass a test with a 100% grade before
selling is competitive and complex product.
That was a best practice then (and
probably still is), but part of continuous
improvement is, of course, continuous
improvement, and this company has taken this
training to the next level, requiring agents to
repeat it on an annual basis.
The bar always get higher, but the
rewards are greater and the instances of
noncompliance fewer and fewer.
***************************************************************
Have a wonderful summer, and thank you all for
your continuing interest in IMSA, ethical market
conduct and the Kenneth J. Kalis Company.
Ken Kalis
386-462-1074
Be Kind.
Ephesians 4:32
The Kenneth J. Kalis Company, Inc.
With
associates in: | Boston, MA | Charlotte, NC | Chicago, IL | Denver, CO | | Hartford, CT | Houston, TX | Kansas City, MO | Minneapolis, MN | | New Orleans, LA | New York, NY | Orlando, FL | Philadelphia, PA | | Portland, ME | San Diego, CA | Springfield, IL | Tampa, FL | ANTITRUST NOTICE The Kenneth J. Kalis Company (KJKC) is committed to adhering
strictly to the letter and spirit of the antitrust laws. Our communications and
flash surveys are designed solely to provide a forum for the expression of various
points of view on topics described in the communications or surveys. Under no
circumstances shall these tools be used as a means for competing companies or
firms to reach any understanding - expressed or implied - which restricts competition
or in any way impairs the ability of any organization to exercise independent
business judgment regarding matters affecting competition. Accordingly, we ask
for and appreciate any observations or sensitivities you may have to any aspect
of our communications or surveys that presents a risk from the standpoint of the
antitrust laws. | . |
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IMSA Links
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My daughter Patricia and I overlooking
Lake George.
I
appreciate your continuing interest in and support of ethical market
conduct and integrity in our business. Have a great summer. Hope to
see many of you soon.
You got me up here. Now
how do I get down
from here, son? |
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Telephone: 386-462-1074
Fax: 386-462-1075
Email: kenkalis@gmail.com
17220 NW 78th Avenue,
Alachua, FL 32615.
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Two dinner fish from beautiful Brant Lake, NY.
You can see 100 miles from here
Now for our non-IMSA close.
On my drive to
Toronto
(and back) I listened to a biography of William Shakespeare.
Here is one of my favorite poems that fits very well into
a summer edition of our update:
Sonnet
18
Shall I compare thee to a summer's day?
Thou art more lovely and more temperate.
Rough winds do shake the darling buds of May,
And summer's lease hath all too short a date.
Sometime too hot the eye of heaven shines,
And often is his gold complexion dimmed,
And every fair from fair sometime declines,
By chance or nature's changing course untrimmed;
But thy eternal summer shall not fade
Nor lose possession of that fair thou ow'st,
Nor shall death brag thou wander'st in his shade
When in eternal lines to time thou grow'st.
So long as men can breathe or eyes can see,
So long lives this, and this gives life to thee.
Thank you all for your continuing
interest in IMSA, ethical market conduct and the Kenneth J.
Kalis Company.
Here’s to you from the whole Kalis family.
Claudia, Jonathan, Dad and Patricia enjoying
some root beers.
Ken Kalis
386-462-1074
Only Believe.
Mark 5:36
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