Ethics: An Introduction

Page 5 of 9

Principles, Rules, Values, and Trust

The Golden Rule: Do Unto Others

Some versions of the Golden Rule seem universal. It is embraced by most of the major religions of the world. For many agents, operating according to the Golden Rule - "do unto others as you would have them do unto you" - seems enough.

We know that good agents adhere to specific professional conduct, behavior, and sound practices in working with individual clients, as well as adhering to high standards for the benefit of maintaining a positive and professional perception within the population as a whole.

Professionals are expected to exhibit elevated standards of conduct. These include paying attention to key principles and guidelines associated with those responsibilities as one practices within their profession for the financial benefit of others.

Most financial service professionals, when asked what is involved in acting ethically, will respond using the Golden Rule:

"Do unto others as you would have them do unto you." As stated earlier, the Golden Rule is a universal ethical norm, utilized by most, if not all, the major world religions. Consider the following six versions:

1. Good people proceed while considering that what is best for others is best for themselves. (Hitopadesa, Hinduism)

2. Thou shalt regard thy neighbor as thyself. (Leviticus 19:18, Judaism)

3. All things whatsoever ye would that men should do to you, do ye even so to them. (Matthew 7:12, Christianity)

4. Hurt not others with that which (or God-given set of laws) that sets the rules of right and wrong. (Udanavarga 5:18, Buddhism)

5. What you do not want done to yourself, do not do to others. (Analects 15:23, Confucianism)

6. No one of you is a believer until he loves for his brother what he loves for himself. (Traditions, Islam)

Why is the Golden Rule the cornerstone of all the major religious ethics of the world as well as the cornerstone of the moral and ethical demands of the insurance industry?

Simply because it captures the essence of what morality and ethics are about. Morality and ethics involve society's ethos and mores. Morality is a social institution (or God-given set of laws) that sets the rules of right and wrong. Which, simply, stated, are the way people do things and the rules, expressed and understood, they use to govern their actions. No society can survive without such mores and rules; therefore, no society is without a code of ethics.

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Not only are policy forms, clauses, rules and court decisions constantly changing, but forms vary from company to company and state to state. This material is intended as a general guideline and might not apply to a specific situation. The authors, LunchTimeCE, Inc., CEfreedom, and InsuranceEthics101.com, and any organization for whom this course is administered will have neither liability nor responsibility to any person or entity with respect to any loss or damage alleged to be caused directly or indirectly as a result of information contained in this course.