IMSA addresses ethics and how a client should be treated, but the client is counting on the producer to be the ethical person who can be trusted and will pick the right product from the right company, Flynn says. If it has the IMSA mark, it has it. If it doesn't, it doesn't. Larry Freking, president of Independent Brokerage Network in Sioux City, Iowa, says he had just been to an IMSA-sponsored presentation. The agents pay attention, he says, but the consumers don't pay too much attention to it.
Most life insurance is sold through the quality of company ratings.
It is an attempt by companies to improve their image, he asserts. The problem emanated from the home office. Companies have tried to audit him as part of the IMSA process, he says, and he has declined, saying it is not in his contract. When he stood his ground, he says, one company said it would not audit his agency. Kiselis says that professional designations such as CLU and ChFC make producers more professional.