The correct answer is: D. To maintain a system of supervision and review that is reasonably designed to achieve compliance with these principles of ethical market conduct.
Principle 2 of the Insurance Marketplace Standards Association (IMSA) principles states that:
“Members shall establish and maintain a system of supervision and review that is reasonably designed to achieve compliance with these principles of ethical market conduct.”
This means that members of IMSA must have a system in place to ensure that they are complying with the principles of ethical market conduct. This system should include policies and procedures, training, and monitoring.
The other options are not directly related to Principle 2. Option A, “To provide competent and customer-focused sales and service,” is related to Principle 1 of the IMSA principles. Option B, “To engage in active and fair competition,” is related to Principle 3 of the IMSA principles. Option C, “To provide for fair and expeditious handling of customer complaints and disputes,” is related to Principle 4 of the IMSA principles.