BETHESDA, MD--(MARKET WIRE)--Sep 22, 2008 -- Compliance officers from more than thirty leading insurance companies across the country recently gathered in Scottsdale, AZ, for a three-day Compliance Best Practices Workshop, hosted by The Insurance Marketplace Standards Association (IMSA). Attendees were polled at the event about senior protection and other compliance issues, and IMSA has just released the findings of this survey to the public.

54% of attendees represent companies that have taken an official position disallowing senior designations, and 41% report that they have a committee or other group that is dedicated to senior sales issues. 69% think it would be a good idea to simplify annuity product features to make the product easier for consumers to understand, and 69% agree that one federal regulator would be better than the current state regulatory system. For survey results, visit www.IMSAethics.org.

While at the event, participants tackled the sales suitability and senior issues that are confronting companies and their selling partners in today's marketplace. They shared best practices from differing compliance programs to help identify better ways to protect consumers. Speakers included representatives from AARP, The Financial Industry Regulatory Authority (FINRA), the Securities Exchange Commission (SEC) and IMSA-qualified company compliance professionals.

"These insurance compliance professionals return to this annual event every year to learn and share strategies in an effort to strengthen their own compliance infrastructure," said IMSA President and CEO Brian Atchinson. "IMSA continues to host the event to foster this important dialogue that ultimately protects the consumer."

IMSA is the premier standards-setting organization for the life insurance, annuity and long-term care insurance marketplace for individually sold products. Qualified companies commit to maintaining high ethical standards and to being fair, honest, and open in the way they advertise, sell and service their products. For more information and a list of IMSA-qualified companies, visit www.IMSAethics.org.

     For information, contact:
     Jennifer Kalita
     240-744-3021