Posted On: July 2, 2004, 1:00 pm CDT

Posted By: Rich Pyorre

What good are IMSA's "principles" if even IMSA does nothing about violations when reported to them. As an example I sent documentation to IMSA showing State Farm Insurance Companies, one of their members, has committed perjury. The NAIC suggested I inform IMSA about the unethical behavior. This was on January 13, 2004 and I received a response from IMSA on Jan 21 that its members "not only subscribe to our high standards of honesty and fairness but to establish an infrastructure of policies and procedures that is designed to provide reasonable assurance of compliance". They also stated they are "not one that plays a regulatory role in policing the activities of its members or in handling individual complaints". They then forwarded the information to the compliance office of State Farm and told me if I did not hear from them in a reasonable amount of time to let IMSA know. I contacted IMSA again on March 5 since I had not heard from the compliance officer. I reminded IMSA they would be remiss not to take some sort of action when they are "a standard setting organization for high ethical standards." I told them certainly perjury would not fit with high standards of honesty and fairness. As of today, July 1, 2004,IMSA has done nothing about the perjury of one of their members. My question is if they are aware one of their members has committed perjury and they do nothing can anyone really expect IMSA's "system of self regulation to work"? I have the documentation of State Farm's perjury and can prove my statements. Rich Pyorre, Fort Bragg, California