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Published on: 5/9/2005
Last Visited: 8/24/2005
Testifying at the Department of Defense's meeting to consider new rules governing Personal Commercial Solicitation on DoD Installations, IMSA Associate Director John Dohmen said requiring companies to comply with IMSA's rigorous standards, including being transparent in all practices and conducting "needs-based" selling, should help end unethical insurance and investment sales practices to military personnel.
A former member of the military, Dohmen said, "All consumers -- including America's military men and women - deserve fair, clear and concise advice and information from life insurance companies and their representatives when they are considering buying financial services products."
Noting that the Defense Department's proposed revised policy on commercial sales calls for a "uniform approach" to solicitation and sales to military personnel, Dohmen said, "This is precisely what IMSA provides - consistent, high standards for ethical market conduct in sales, advertising and service of life insurance products."IMSA-qualified companies also must undergo stringent and regular external review, to ensure ongoing compliance.
By requiring companies to be IMSA-qualified, Dohmen said, DoD can insure that service men and women are receiving information from companies that meet a high standard of ethical business practices.www.IMSAethics.org - To read complete statement by Director Dohmen, click here!Return To Headlines
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