| Ethics: Personal Fundamentals | |||
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Ethical Principles and Insurance There are five important principles of ethical conduct, also known as values, and they are: honesty, integrity, competency, objectivity, and fairness. In contrast to ethics, which are society-based, values are individual in nature. Values are comprised of personal concepts of responsibility, entitlement and respect. Values are shaped by personal experience, may change over the span of a lifetime and may be influenced by lessons learned. Values may vary according to an individual's cultural, ethnic and/or faith-based background. Honesty and Integrity The Truth and Nothing But the Truth Above all else, most would agree that agents certainly have an obligation and responsibility to deal with their clients and customers with the highest levels of integrity and honesty. As we know, honesty means to be truthful and forthright with one another. Honesty is one part of integrity. What is honesty to you? Some say it is "truthful, trustworthy, achievement by fair means; straight-forward." Who decides if a sale is made or a service is rendered by fair means? If the individual's code of ethics is corrupt, there may not be any perimeters around "by fair means". We rely on each other to maintain honest operations: to maintain personal dedication to unshakable, unwavering personal integrity. All of us have been in situations where people have put their trust and confidence in us, both in our professional encounters as well as in our personal lives. In these cases, we have the ultimate responsibility to our clients and the public at large to honor that trust by conducting all our actions and dealings with the utmost of integrity. We, like others, know intuitively what is right and what is wrong in any given situation. We all know what is right and just, and we rely on our experience, knowledge, and judgment to determine the "right thing" for every situation. Sometimes it may appear to be a gray area, but things become less and less gray as we lay integrity alongside the specific situation. In situations where our personal gain and personal advantage are a potential factor in the equation and acting as integrity minded professionals, we should consistently err on the side of what is in the client's best interest, including their personal gain and advantage. Good news travels fast, but bad news travels even faster! Integrity Tested Integrity may be defined as strict personal honesty and independence. In all dealings with a client or perspective client, you should strive to maintain the highest level of integrity. The cornerstone of professional ethics is integrity. It is imperative to have a working knowledge of integrity, as well as all the sub-systems of ethics, in order to bring clarity to the tasks of a professional's career. It enables the agent to create and act within an ethical position with everyone they come in contact. Integrity can be also defined as the soundness of and adherence to moral principle, character, uprightness, and honesty. It also is the state of being whole, entire, or undiminished, such as to preserve the integrity of the empire. Integrity refers to a sound, unimpaired, or perfect condition, such as the integrity of the text or the integrity of a ship's hull. Can a professional person be dishonest yet maintain integrity with his clients? Integrity is to say what you mean and to deliver what is promised. Integrity is honesty, incorruptibility, wholeness, entirety, and soundness. Probably not. Maybe you can maintain a tainted form of integrity. But the vital signs of trust and confidence with the client will be missing. There are many common areas where our integrity may be tested. They include advertising, product sales, processing errors, and disclosure. |
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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.
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