Ethical Issues in the Insurance Industry

Ethical Issues in the Insurance Industry Jeff Bolling Columbia College Abstract Ethical behaviour is crucial to preserving not only the trust on which indemnification transactions are based, but also the publics trust in the insurance industry as a whole. Sometimes the push to act un estimablely comes from the consumer. How many consumers await their insurance performers to falsify their applications or claims? You like your agent, he or she likes you, they really want to help you knocked out(p), thats just other conflicting loyalty. Over the years many draw see unethical behavior by insurance agents. I have had them give their sales pitch to me and my family just to find out later that the product they sold us was completely untimely for our needs and way everyplace priced. Greed seems to play a role and being ignorant of the industry adds to the publishs. Sometimes agents spend a penny incentives or kick backs for promoting or selling certain products. The products being offered whitethorn not even be needed by the consumer but just because it creates a bigger paycheck for the agent they pitch it to you and you buy it. In the following pages we will mind at areas that have been identified as critical ethical issues in the insurance industry today.

The central ethical issue in the insurance industry centers around money over customer support. Several facets differentiate those who see insurance as a vocation and those who view the trading as a means to a financial end. If an insurance agent enters into the profession without a strong ethical foundation he may quickly discover that people would rather not do task with him. Honesty in the insurance industry plays a central role in continued success and growth. agree to the Insurance Journal, a single dishonest act by an insurance agent can spell doom for his business career and taint his reputation for years to come. Insurance agents and agencies mustiness look at the value of selling clients effective... If you want to progress to a full essay, order it on our website: Orderessay

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