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Business Ethics
All
the insurance companies are obligated to implement the following ethical
principles:
1- Hew to the
commitments and rules
1-To
respect and recommend implementing the commitments and rules, do not attempt to
frustrate them;
2- To
encounter with unprofessional insurers and brokers who do marketing using
unethical ways such as bribing;
3- To do
not blink at a violation and cooperate to reduce any kind of corruption;
4- To hew
to the obligations and commitments, also hew to the agreements and contracts
whether the law supervise them or not, whether they are overt or not;
5- To set
the claim settlement on time according to the insurance policy;
6-To
observe and support the rightful and open-ended competitive and comply with
insurance laws, especially preventing from dumping.
2- Justice
and fairness
7- To
determine the employees' salaries equitably and pay the agencies' and brokers'
commission according to the rules;
8-To deal
fairly with the customers and commercial partners overall;
9-To avoid
from obtaining the commercial information using unethical ways;
10-To
assert the rate(s) and premium logically, fairly and according to the technical
principles.
3-Clarity and
fidelity
11-To
interchange the information fairly and morally, also avoid from representing the
deceitful reports, concealing and eliminating some information meaningfully;
12-To
issue the precise fiscal information continuously and his professional specialty
as it are;
13-To
inform the policyholder effectually about the weaknesses happened in performing
the obligations including solvency margin, reinsurance coverage and professional
management;
14-To
explain the requirements of insurance coverage and warranty for recovery of the
claim to the customers;
15-To
intercommunicate with customers with clarity to avoid from emerging any kind of
abuse.
4- Human
benevolence
16-To
prevent from giving and receiving the presents extravagantly and also
celebrating amusing programs for commercial partners excessively;
17- To
cooperate with the coworkers who obligate the moral and ethical principles and
have good reputation;
18- To
respect and concern the territory (privacy) of customers, coworkers and
competitors;
5-Respect the
social rights
19- To
respect the people's human and social rights,
20- To
respect the customers' culture, conventions and beliefs;
21-Not to
spite critics who believe in violating the regulations and objects the
functions;
22-To
counteract the laundering and any other criminal activities;
23-To
protect the environment and stable development;
24-To
cooperate with the NGOs and support the public strategies which enforce the
development of insurance industry;
25-To
receive the customers' and authorities' cases;
26-To
respect for the competitors' intellectual property rights.
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