The Insurance Marketplace Standards Association (IMSA) has renewed its certification of the Knights of Columbus Insurance Program as adhering to a strict code of ethical market conduct. In order to win certification, an insurer must undergo a rigorous assessment of its marketing, sales and distribution practices by an independent third party assessor.
Supreme Knight Carl A. Anderson said that IMSA’s action “confirms our complete commitment to maintaining the highest standards in our everyday business practices. Integrity and honesty are fundamental values at the Knights of Columbus, and the brother Knights who make up our professionally-trained field force understand well how central they are as we go about the business of protecting Knights and their families. This recertification is a testament to their dedication and our fidelity to the vision of our founder, Father Michael McGivney.”
IMSA is an independent nonprofit organization that promotes high ethical standards in the sale of individual life insurance, annuities and long-term care products.
The Order’s acceptance by IMSA means that the Knights of Columbus:
• Conducts business according to high standards of honesty and fairness, and render that service to our members and their families in a manner we would demand for ourselves and our families.
• Provides competent and member-focused sales and service.
• Provides advertising and sales materials that are clear, honest and fair.
• Maintains a system of supervision and ensure that it is designed to achieve compliance with IMSA’s Principles of Ethical Market Conduct.
To maintain IMSA member status, an organization must ensure that all of our policies and procedures comply with the IMSA code. Certification is valid for three years, and this is the third consecutive certification earned by the Knights of Columbus.
More information about IMSA qualification can be found at www.IMSAethics.org.