A Video Asking What are Ethics for the Insurance Professional?

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A Video Explaining The Multiple Philosophies that Establish Ethical Behavior From Hammurabi to Modern Philosophers for Insurance Professionals

See the full Video at https://youtu.be/3DF08HcSyeU

Ethics refers to well-founded standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues.

Ethics, for example, refers to those standards that impose the reasonable obligations to refrain from murder, rape, theft, assault, slander, and fraud.  Ethical standards also include those that imply virtues of honesty, compassion, and loyalty.

Ethical standards include standards relating to rights, such as the right to life, the right to freedom from injury, and the right to privacy.  Such standards are adequate standards of ethics because they are supported by consistent and well-founded reasons.

Ethics also refers to the study and development of one’s standards of conduct. Feelings, laws, and social norms can deviate from what is ethical.  It is necessary, especially to people involved in the business of insurance, to constantly examine one’s standards to ensure that they are reasonable and well-founded conduct that ethically treats an insured with the utmost good faith.

Ethics also requires the continuous effort of studying our own moral beliefs and our moral conduct, and striving to ensure that we, and the institutions we help to shape, live up to standards that are reasonable and solidly-based. To those in the business of insurance – compelled to deal fairly and in good faith in all transactions – developing a moral code of conduct that strives to ensure that every person involved in the business of insurance to will shape and live up to standards that are solidly based in the good faith handling of insurance transactions and insurance claims.

There is no single answer to the question of what ethics is or how one can act ethically. There are, in fact, multiple concepts defining ethical behavior that began with the Code of Hammurabi and continues to evolve through modern philosophers, preachers, and people who claim to be ethicists.

Philosophers have struggled with the concept of ethics for more than three eons. No one agrees on which to use. Some apply various concepts depending on the situation.

Those in the business of insurance must avoid situational ethics. Situational ethics should not, and will not, apply in the insurance business whose only ethical mandate should be the covenant of good faith and fair dealing. When dealing with insurance transactions the ethical system adopted by the insurance professional must be consistent.


© 2021 – Barry Zalma

Barry Zalma, Esq., CFE, now limits his practice to service as an insurance consultant specializing in insurance coverage, insurance claims handling, insurance bad faith and insurance fraud almost equally for insurers and policyholders. He also serves as an arbitrator or mediator for insurance related disputes. He practiced law in California for more than 44 years as an insurance coverage and claims handling lawyer and more than 52 years in the insurance business. He is available at http://www.zalma.com and zalma@zalma.com.

Mr. Zalma is the first recipient of the first annual Claims Magazine/ACE Legend Award.

Over the last 53 years Barry Zalma has dedicated his life to insurance, insurance claims and the need to defeat insurance fraud. He has created the following library of books and other materials to make it possible for insurers and their claims staff to become insurance claims professionals.

Go to the podcast Zalma On Insurance at https://anchor.fm/barry-zalma;  Follow Mr. Zalma on Twitter at https://twitter.com/bzalma; Go to Barry Zalma videos at Rumble.com at https://rumble.com/c/c-262921; Go to Barry Zalma on YouTube- https://www.youtube.com/channel/UCysiZklEtxZsSF9DfC0Expg; Go to the Insurance Claims Library – https://zalma.com/blog/insurance-claims-library/ Read posts from Barry Zalma at https://parler.com/profile/Zalma/posts; and Read last two issues of ZIFL here.

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