Insurance Marketplace Standards Association (IMSA)
Voluntary market conduct compliance organization whose purpose is to protect the public interest and to enhance the insurance buyer's perception of the life insurance instrument. The member companies place the emphasis on self-regulation. Each member company is required to perform a self-assessment of its sales and marketing practices. Member companies are required to adhere to six principles of ethical market conduct that specifies compliance supervision, complaint procedures, types of sales materials, procedure for replacement and fair competition, agent selection and training, and suitability.
Popular Insurance Terms
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Branch office of an insurance company's home office that markets, underwrites, and services the company's lines of business within a specified geographical area. ...
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Clause listed after the general provisions of the insurance policy that requires the officers of the insurance company to sign their names in order for the contract to be completed. Most ...
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Measurement of income received by households from employment, self-employment, or investment and transfer payments, as provided monthly by the United States Department of Commerce. ...
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