SOURCE: IMSA

October 31, 2008 15:27 ET

Insurance Marketplace Leaders Join IMSA Board

Standards-Setting Organization Names Raymond James & Associates' Scott Curtis Chairman

BETHESDA, MD--(Marketwire - October 31, 2008) - The Insurance Marketplace Standards Association (IMSA) has approved a new Chairman of the Board and has elected its new Board of Directors, representing leaders from across the life insurance marketplace.

At its annual meeting, IMSA Board members confirmed Scott Curtis, Senior Vice President of Raymond James & Associates, as Chairman of the standards-setting organization.

"As the entire financial services industry continues down the path of regulatory modernization, IMSA's national insurance focused sales and suitability standards, compliance solutions, efficiency services, and consumer educational tools should be very valuable," said Curtis. "IMSA is very well positioned to continue making material and meaningful contributions to insurance manufacturers, distributors, regulators, and consumers."

In addition, Kevin Slawin, President, Allstate Financial Distribution, has been approved as Chair-Elect. "IMSA not only sets the standards for ethical business practices," said Slawin, "but IMSA also helps insurance companies to reach those standards through compliance solutions, infrastructure tools and industry collaboration with regulators and distributors. All of this ultimately protects the consumer."

The IMSA Board also welcomed new member Paul Mistretta, Chief Operations Officer for ING's Life Business Group. "The ethical business practices promoted by IMSA have never been more important than they are in today's market climate," said Paul Mistretta, "and I look forward to serving on a Board that represents a key voice for market conduct in the life insurance industry."

Dr. Brenda Cude, Professor of Housing and Consumer Economics at the University of Georgia, and a Consumer Representative to the National Association of Insurance Commissioners (NAIC), was approved for a new three-year term.

"The wealth of knowledge and experience represented on our Board of Directors is a tremendous asset to IMSA," said IMSA President and CEO Brian Atchinson. "This is an important time for Americans as they confront the need for financial security and are concerned about purchasing suitable insurance products to meet their needs. These distinguished professionals bring valuable viewpoints on industry and consumer issues as we establish national standards that promote ethical business practices to benefit consumers, companies and distributors."

Atchinson provided the following background on the chairman and new board members:

At Raymond James & Associates, Scott Curtis is responsible for Financial and Retirement Services, Mutual Funds Research and Marketing, and various initiatives related to Raymond James & Associates' private client group. Scott transitioned to his current role after two years as President of Planning Corporation of America, Raymond James' insurance agency, beginning in February 2003.

Kevin Slawin is responsible for all of Allstate Financial's non-proprietary distribution channels, including independent agents, banks, Broker-Dealers and specialized brokers. He is also CEO of Allstate Bank. Prior to his current role, he served in various positions within Allstate Financial, including head of technology and operations as well as its CFO.

Before joining ING's Life Business Group as Chief Operations Officer in April, 2005, Paul L. Mistretta served as Executive Vice President at American General Life Insurance Companies (an AIG company). Prior to that position, he was Senior Vice President and Chief Operations Officer at First Colony Life Insurance (a Genworth Financial company).

Dr. Brenda Cude is a Professor of Housing and Consumer Economics at the University of Georgia who served on the IMSA Board for her initial three-year term from 2005-2008. She is also a Consumer representative to the NAIC. Her research interests focus on how consumers acquire and use information before making buying decisions.

IMSA is the premier, national 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. IMSA updates its standards regularly with input from a Standards Advisory Committee consisting of representatives from AARP, NAIC, FINRA, rating agencies, and product distribution organizations. For more information and a list of IMSA-qualified companies, visit www.IMSAethics.org.