News

June, 2004 Electronic Update on IMSA Issues

Dear IMSA Friends:

The first half of a busy year is behind us as we look forward to the ACLI Compliance Meeting in Baltimore. We hope to see you all there on July 15. We will be presenting Excelsior Awards to 13 Companies for 45 industry best practices. Please stop by our booth to say "hello" and catch up on the latest news. Here's some other news:

15 Companies Renew IMSA Membership

On June 17, IMSA announced that the following companies had renewed their IMSA membership:

• Acacia Life Insurance Company, Bethesda, MD
• Ameritas Variable Life Insurance Company, Lincoln, NE
• Ameritas Life Insurance Corp., Lincoln, NE
• Genworth Financial (including American Mayflower Life Insurance Company of New York, New York, NY, Federal Home Life Insurance Company, Lynchburg, VA, First Colony Life Insurance Company, Lynchburg, VA, GE Life and Annuity Assurance Company, Richmond, VAGeneral Electric Capital Assurance Company, Richmond, VAGE Capital Life Assurance Company of New York, New York, NY, and Professional Insurance Company, Enfield, CT)
• New York Life Insurance Company, New York, NY (and its subsidiary, New York Life Insurance and Annuity Corporation, New York, NY)
• The Penn Mutual Life Insurance Company, Horsham, PA (and its subsidiary, The Penn Insurance and Annuity Company, Horsham, PA)
• Trustmark Insurance Company, Lake Forest, IL.

We congratulate these fine companies, and are pleased to see some of "our" companies among them. So far, of the 41 companies whose renewal membership has been announced, we have conducted the assessments for 13.

It looks like about 25% of the membership has renewed already, and we know many more are "in process." We are contracted to work with 8 companies during the second half of the year and are hoping for some more to help keep our 7 Qualified Independent Assessors busy. We welcome requests for proposals for either conducting Independent Assessments or helping facilitate self-assessments.

Our number is 386-462-1074. You can see the full IMSA release on this on the IMSA website www.IMSAethics.org.

Flash Surveys on Persistency and Compliance Visibility

The intake from our last 2 flash surveys has been below expectation, so we plan on resending them next week. Please do what you can to reply. I know it takes some effort to get the information, and I know you all have a million things to do. But someday soon you may want some information from your colleagues and the flash survey we'll be sending will be to meet your company's need. I appreciate you input and your help in raising the bar for all of us in the industry. Many thanks.

Kalis Study on Sarbanes Oxley

As you know, IMSA is looking at ways to link the IMSA and Sarbanes Oxley assessment processes. Their thought is that a single Company team could be given responsibility for both. We are doing a study looking at the documented Sarbanes Oxley steps versus the 370 IMSA indicators to see what kind of commonalities there are. A couple of our client companies have indicated that they would be interested in participating in this, and so we are moving ahead.

We have also received some requests from clients to modify our KP4 IMSA software to accommodate the Sarbanes Oxley documentation so it can be used as a tool for easily checking the status of each item. We will be visiting these companies over the summer, seeing what their needs are and how we can help. We do see a future in this area and have, in fact, hired someone with an accounting, audit background to help us research and develop the process in conjunction with another Kalis IMSA Team member who has already completed a Sarbanes Oxley assessment for a large insurer.

We are interested in input from any of you with expertise in this area and hoping we can come up with something really useful to everyone. Some of our large company clients see a real need for a simplified documentation tool and some people familiar with the assessment process who can help them prepare for the PA review.

If you are interested in hearing more about this or taking part in the study, please respond by email to kenkalis@gmail.com or give us a call at 386-462-1074.

Past Updates

• News
• May 2005
• April 2005
• March 2005
• February 2005
• January 2005
• December 2004
• November 2004
• October 2004
• September 2004
• August 2004
• July 2004
• June 2004

IMSA Links

• imsaethics.org
  
• LOMA

And now for our non-IMSA close, sent in by an internet friend:

Don't we all

One evening I was parked in front of the mall wiping off my car. I had just come from the car wash and was waiting for my wife to get out of work. Coming my way from across the parking lot was what society would consider a bum. From the looks of him, he had no car, no home, no clean clothes, and no money. There are times when you feel generous but there are other times that you just don't want to be bothered. This was one of the "Don't want to be bothered" times.

"I hope he doesn't ask me for money," I thought. He didn't. He came and sat on the curb in front of the bus stop and he didn't look like he could have enough money to even ride the bus. After a few minutes he spoke. "That's a very nice car," he said. He was ragged but had an air of dignity around him.

I said, "Thanks," and continued wiping off my car.

He sat there quietly as I worked. The expected plea for money never came. As the silence between us widened something inside said, 'ask him if he needs any help.' I was sure that he would say yes, but I held true to the inner voice.

"Do you need any help?" I asked.

He answered in three simple but profound words that I shall never forget. We often look for wisdom in great men and women. We expect it from those of higher learning and accomplishments. I expected nothing but an outstretched grimy hand. He spoke three words that shook me.

"Don't we all?" he said.

I needed help. Maybe not for bus fare or a place to sleep, but I needed help. I reached in my wallet and gave him not only enough for bus fare but enough to get a warm meal and shelter for the day. Those three little words still ring true. No matter how much you have, no matter how much you have accomplished, you need help too. No matter how little you have, no matter how loaded you are with problems, even without money or a place to sleep, you can give help. Even if it's just a compliment, you can give that.

You never know when you may see someone that appears to have it all. They are waiting on you to give them what they don't have. A different perspective on life, a glimpse at something beautiful, a respite from daily chaos, that only you through a torn world can see. Maybe the man was just a homeless stranger wandering the streets. Maybe he was more than that. Maybe he was sent by a power that is great and wise to minister to a soul too comfortable in themselves.

Maybe God looked down, called an Angel, dressed him like a bum, then said, "Go minister to that man cleaning the car, that man needs help."

"Don't We All?"

Thank you all for your continuing interest in IMSA and in our company. Have a great summer, and please keep in touch.

Ken Kalis

Only believe.
Mark 5:36

Telephone: 386-462-1074
Fax: 386-462-1075
Email: kkalis@kkalis.com
17220 NW 78th Avenue,
Alachua, FL 32615.