Ethics Part I(1.5 Credit Hour) TDI Course No.

 

Chapter 6

 

6.1   Agents and Adjusters Fiduciary Responsibilities to Insurers:

• Acts in accordance with agency contractual agreement
• Reveal all material facts
• Honest, loyalty & good faith
• Acts promptly on applications and premiums
• Acts with skill and care
• Avoids conflict of interest
• Solicits business carefully
• Competes for business fairly
• Does not put-down or defames competition

6.2     Principal"s responsibilities to agents and adjusters

• Reasonable and fair production goals
• Employment
• Reimbursement for losses
• Follows State and Federal Employment Laws

6.3     Responsibilities of Insurance Broker

• Broker is agent of insurer when delivering policy
• Broker applies ethical and insurance standards when delivering policy to insurer
• Broker has fiduciary responsibilities with insurers
• Broker deals fairly and ethically with insurer

6.4    Responsibilities of Agents and Adjusters to Public

• Act professionally at all times
• Set a good example for insurer
• Project a good public image at all times
• Educate and inform

6.5    Responsibilities of Agents and Adjusters to Clients

• Meet client expectations
• Provide top-notch, quality service
• Be responsive and Follow-up
• Be loyal
• Reveal all material facts