2005 ETHICS DAY…and MORE

Presented by the Kelley Insurance Center - Drake University in cooperation with The Iowa Chapter, CPCU Society; Society of Financial Service Professionals; and Des Moines Association of Insurance and Financial Advisors

ABOUT OUR PROGRAM
Master of Ceremonies: Douglas M. Ireland, CLU, ChFC, LUTCF

Keynote: "Ethical Behavior in the Insurance Industry: Occasionally a Source of Sensationalism, But More Commonly a Day-to-Day Challenge" - Robert W. Cooper, Ph.D.

At least twice during the past two decades, the U.S. insurance industry has been faced with major, widely publicized allegations of unethical behavior by some of the industry's major players that have raised serious questions in the minds of not only the public but also most of those working in the industry as to whether many day-to-day insurance business practices are legal, much less ethical. During the first half of the 1990s, many of the leading life insurance companies were the focus of class-action lawsuits alleging misrepresentation by some of their agents in selling vanishing premium life insurance products. Most recently, several major brokers and insurers have been charged with collusion, fraud and distorting competition in steering customers' property-liability business and employee benefit programs to pre-selected insurers rather than to those offering the best terms. After brief summaries of the key ethical issues raised by these two major events, information will be provided regarding the eight types of ethical issues found to have caused the greatest challenges for those working in both the life insurance and the property-liability insurance industries from 1990 to the present. In making an effective ethical decision in business, it is essential to identify and evaluate the conflicting attitudes and behaviors of the various groups who are affected by the decision and interested in its outcome (called "stakeholders"). Depending on the particular dilemma, stakeholders might include, among others, a company's owners, senior managers, other managers, employees and/or agents; customers; liability claimants; or regulatory agencies. A very practical process will be presented for analyzing ethical dilemmas taking into account the conflicting attitudes and behaviors of the various relevant stakeholder groups involved. Then, to illustrate its use in arriving at an ethical decision, the process will be applied to several ethical dilemmas faced by those working in various parts of the insurance industry.

Jane Colacecchi from the Iowa Department of Agriculture and Land Stewardship and Jami Haberl from the Department of Public Health, will present a joint two-hour program on agroterrorism and bioterrorism and the potential human and economic impact on the citizens of Iowa. The program will be a real eye-opener.

If you think that terrorism only affects people in large cities…think again. Plan to attend this informative and beneficial program. Learn about the risks and the measures that the state must take to protect its citizens.