Home
Members of the Insurance Marketplace Standards Association (IMSA)
Millions of Americans trust
and depend on life insurance products for financial security. That's
why ethical conduct in the marketplace is crucial for an individual
company and for the industry as a whole.
North American Company for Life & Health Insurance is a member of
the Insurance Marketplace Standards Association (IMSA).
What is IMSA?
IMSA is an independent, voluntary organization that has been created
by the life insurance industry as another means to ensure that
companies who qualify for membership meet and maintain high
standards of ethical conduct in their dealings with consumers. IMSA
membership complements our ongoing compliance activities required
under state law.
How did we become a
member?
To become an IMSA member, North American Company for Life & Health
Insurance went through a rigorous assessment by an independent
examiner trained and qualified to assess that we have met high IMSA
standards. This independent assessment can happen only after we
first examined our own systems and programs that promote and
maintain ethical behavior in the marketplace. IMSA membership lasts
three years. This assessment and review process must be repeated
every three years in order for North American Company for Life &
Health Insurance to remain a member of IMSA.
The IMSA standards
- Maintain policies and procedures that demonstrate a commitment
to honesty, fairness and integrity in all customer contacts
involving sales and services for individual life insurance and
annuity products.
- Emphasize to all employees and distributors the concepts of
ethical market conduct through ongoing communications programs.
- Review our advertising materials regularly to assure that we
are honest and clear.
- Examine our sales materials continually to see that they are
current, accurate and in accordance with current laws and
regulations.
- Monitor the sales process carefully, on a regular basis, and
obtain and respond to customer feedback.
- Engage in fair competition consistent with state and federal
laws, and communicate this practice to employees and distributors
involved in the sales process.
IMSA standards complement the requirements set forth by state
regulation. By becoming an IMSA member, North American Company for
Life & Health Insurance has agreed to establish and follow
procedures specifically designed to promote ethical market conduct,
and agrees to monitor those procedures to verify continued
compliance with IMSA standards. North American Company for Life &
Health Insurance's IMSA membership is further evidence of our
dedication to high marketplace standards. |
