Dear Valued Partners:

We would like to bring you up-to-date on the latest events involving rule 151A. There was a positive development over the past week, yet at the same time, recent events make it clearer than ever that our work is not done. We must continue to work diligently in the fight to repeal 151A by taking our message personally to our Senators and Representatives.

Here is a recap of recent events:

July 21, 2009 - The U.S. Court of Appeals sent rule 151A back to the SEC for further analysis on how the rule will impact efficiency, competition, and capital formation, especially in light of the consumer protections provided under existing state regulations. Following the Court's remand, Old Mutual filed a petition requesting the Court delay the effective date of rule 151A until two years after the SEC has completed the appropriate analysis.

November 6 - In light of the SEC's failure to conduct the required analysis to date, the Court ordered an additional briefing on the question of what is the appropriate remedy for rule 151A. In its briefing, Old Mutual argued that the court should declare the rule null and void.

December 8 - The SEC filed a brief responding the court and Old Mutual's brief. In its brief, the SEC made the following arguments and statements:

• The SEC argued that 151A should not be null and void and said that they would perform the analysis requested by the Court. The SEC expects to complete its analysis of the rule's impact on efficiency, competition, and capital formation by the Spring of 2010.
  
  
• If the SEC retains rule 151A, it expects to seek public notice and comment on its analysis.
  
  
• The SEC consents to delay the effective date of rule 151A for two years after completion of all proceedings on remand from the court. (This means that the earliest date that rule 151A would go into effect is sometime in the second half of 2012.)

InsurMark believes this progress is positive, but we must unite and fight.

The SEC's concession removes some of the uncertainty regarding the timing of implementation if the SEC moves forward with the rule. However, as of now, it also means that the SEC clearly intends to pursue adoption of rule 151A. Hence, 151A is still a major threat to our business.

As a result, the annuity industry worked to get a pair of bills introduced in Congress, HR 2733 and S 1389, that if passed into law would repeal rule 151A.

Your Effort Is Critical - Call, Fax, Send, Visit

Most bills introduced in Congress are not passed into law, so there is still a long battle in front of us. Members of Congress respond when they see that their constituents care about an issue. Let them know you care! Use the template letters on www.sec151a.com. Then call your two Senators and your Representative, fax letters to their offices, and drop by their local offices in your state. In doing so, you will be protecting your own livelihood.

Rule 151A is still very much a threat to your business and the clients you serve. When you take a few minutes to contact your representatives in Congress, you are helping to make sure a product that has proven very beneficial to millions of Americans is not lost or restricted.

InsurMark Is Involved & Will Be Prepared

Rule 151A has captured InsurMark's attention daily as we work beside you to oppose this rule. However, we will also continue to consider what we must do to fully prepare for the changes that would result if the rule survives. As always, we sincerely thank you for your business and partnership in this fight.

Sincerely,

Carolyn Luby, President
InsurMark