Insurance without people who deal ethically and with utmost good faith will always be successful. Insurance personnel who deal with insureds and claimants unethically and with bad faith, should and will fail.
In the new book, Ethics for the Insurance Professional, Barry Zalma presents methods for Insurers and their Personnel to Act with the Utmost Good Faith
Ethics is a process of systematically applying, using, defending and recommending concepts of right and wrong behavior. Ethical behavior is required of both parties to a contract of insurance for the system to work. Ethics is the essence of insurance. Ethical behavior is required of both parties to a contract of insurance for the system to work. If any party to the insurance contract acts unethically the ability of insurance to work effectively and profitably will fail. Ethics is the essence of insurance. Since insurance was first created it has been a business of utmost good faith. As a result, the insured and the insurer are expected to treat each other ethically.
Read about this and other insurance books by Barry Zalma at http://zalma.com/zalma-books/