CPCU Society Gets Ready for Ethics Awareness Month

February 22, 2005

This March, the CPCU Society will celebrate Ethics Awareness Month to emphasize the organization’s dedication to ethical behavior by encouraging its 153 chapters to host ethics-related activities. Participating chapters choose a number of activities to celebrate, including conducting group discussions on ethics, hosting luncheons with local speakers, and offering educational seminars.

In recent years, chapters have initiated innovative activities and ideas to further the Society’s commitment to ethics. Some chapters and their members became involved in community projects and school visits. Chapter meetings included energetic speakers with several approaches to delivering inspirational messages on ethics, ethical values, and ethical decision-making.

Ethics and ethical behavior have been very relevant topics in light of the past year’s investigations into the insurance industry.

Last October, the CPCU Society’s Board of Governors issued the following ethics policy statement at the Society’s 2004 Annual Meeting and Seminars:

The Board of Governors of the Society of Chartered Property and Casualty Underwriters (CPCU Society) denounces all pricing or compensation practices that undermine an open and fair marketplace or jeopardize the interests of the insurance buyer.

The CPCU Society Ethics Code states that its members “shall not engage in practices which tend to discredit the Society or the business of insurance and risk management.”

The Ethics Code also states specifically that the violation of any law or regulation duly enacted by any governmental body whose authority has been established by law is unethical.

In addition, willfully misrepresenting or concealing a material fact in insurance and risk management business dealings also violates the Society’s Ethics Code.

Finally, breaching the confidential relationship that a Society member has with a client or principal is a breach of the Society’s Ethics Code.

For more information about the Society’s Ethics Awareness Month activities, please contact Julia Sherwin at jsherwin@cpcusociety.org, or (800) 932-2728, ext. 2738.

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