Industry Ethics Executive to Participate in National Conference of State Legislatures Discussion

July 15, 2004

Donald Walters, general counsel and deputy director of the Insurance Marketplace Standards Association (IMSA), will be among the speakers addressing the issue of regulatory reform in the insurance industry at the 2004 annual meeting of the National Conference of State Legislatures (NCSL) in Salt Lake City on Tuesday, July 20.

From 10:15 – 11:45 a.m., Walters will participate in a discussion on the topic “Who’s Looking After the Insurers – and How?” in Ballroom J, Lower Level of the Salt Palace Convention Center, along with:

* Oregon Insurance Commissioner Joel Ario;
* Lawrence Cluff, assistant director of financial Markets & Community Investment of the U.S. General Accounting Office (GAO);
* Tim Tucker, director of state-federal relations for the National Conference of Insurance Legislators (NCOIL).

The speakers will discuss the GAO’s report, issued last fall, criticizing inefficient, inconsistent and costly market conduct regulations.

Walters and other IMSA officials have reportedly said the GAO report supports the need for independent, standard-setting organizations such as IMSA to promote uniformity and efficiency in market conduct regulatory reform and better protect consumers through IMSA’s stringent ethical standards.

IMSA is a voluntary, non-profit organization created to strengthen consumer trust and confidence in the life insurance, long-term care insurance and annuity products industry. For more information, visit www.IMSAethics.org.

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