Insight on
Ethics and The Insurance Industry
www.InsuranceCommunityUniversity.com
.
Insurance forms and endorsements vary based on insurance company; changes in
edition dates; regulations; court decisions; and state jurisdiction. The instructional
materials provided by The Insurance Community Center and its authors is intended
as a general guideline and any interpretations provided by The Community do not
modify or revise insurance policy language.
Information which is copyrighted and proprietary to Insurance Services Office, Inc.
(“ISO Material”) is included in this publication. Use of the ISO Material is limited to
ISO Participating Insurers and their Authorized Representatives. Use by ISO
Participating Insurers is limited to use in those jurisdictions for which the insurer has
an appropriate participation with ISO. Use of the ISO Material by Authorized
Representatives is limited to use solely on behalf of one or more ISO Participating
Insurers.
The authors of these materials, Insight Insurance Consulting and The Insurance
Community Center assumes neither liability nor responsibility to any person or
business with respect to any loss that is alleged to be caused directly or indirectly as
a result of the instructional materials provided.
Insight Insurance Consulting
714 803-5830
laurie@insightinsuranceconsulting.com
www.insightinsuranceconsulting.com
www.theinsurancecommunity.com
Copyright 2010
All Rights Reserved
www.InsuranceCommunityUniversity.com
.
2
What this class will cover
1. The Ethical Requirement for Insurance
2. Background on “ethics” and “morality” from an
historical and current day perspective
3. Meaning of Ethics
4. Ethics vs Morality
5. Ethics in the Insurance Industry
www.InsuranceCommunityUniversity.com
.
3
Ethics Requirement
www.InsuranceCommunityUniversity.com
.
4
Ethics Requirement for Insurance
 What does the ethics regulation require?
 The regulations stated in Section 2188.6(H)(I)&(J) of
the California Code of Regulations requires Fire and
Casualty broker-agents and Life agents to complete
four hours of ethics training during their two-year
license term. Personal Lines broker-agents will be
required to complete two hours of ethics training
during their two-year license term
www.InsuranceCommunityUniversity.com
.
5
The Foundation of Ethics
Socrates
Plato
www.InsuranceCommunityUniversity.com
.
Aristotle
6
Foundation of Ethics Impairment
Jeff Skilling
Bernie Ebbers
Dennis Kozlowski
Enron
Worldcom
Tyco
www.InsuranceCommunityUniversity.com
.
7
 2005 Spitzer as attorney general of
NY filed suit against AIG and Hank
Greenburg
 Spitzer was inaugurated on 1/1/07
as governor of NY promising to
focus on ethical government and
the economy.
 2008 Involved in a prostitution
Scandal
 Resigned 3/1208 resigned from
Governor of NY
 11/6/08 federal prosecutors
declined to press charges
 He’s Back!!!
www.InsuranceCommunityUniversity.com
.
8
Why Should We Study Ethics?
 High profile cases have raised the
question of ethical behavior
 Businesses can no longer hide
 Transparency is the new watchword
 The public demands more from the
business relationships
 In general there are higher standards
being placed on behavior
www.InsuranceCommunityUniversity.com
.
9
Foundation of Ethics
www.InsuranceCommunityUniversity.com
.
10
The Foundation of Ethics
 The philosophical background of ethics can be
traced to Plato as espoused most notably in
the ten books of The Republic (Republico).
 The Republic was patterned after much of the
works of Socrates—a teacher of Plato and
carried forward by Aristotle who was a
student of Plato at the age of 17 in Athens
(367BC).
www.InsuranceCommunityUniversity.com
.
11
The Foundation of Ethics
 Aristotle and his peers were among the first
“ancient” philosophers who made a serious
and systematic study of moral principles that
he called ethics
 “Aristotle believed, our early training and
current material circumstances will determine
to a great extent our capacity to follow the
right path.” Philosophy The Classics
www.InsuranceCommunityUniversity.com
.
12
A Fable Worth Repeating
www.InsuranceCommunityUniversity.com
.
13
Socrates and Glaucon
 In The Republic, Plato recounts a dialogue
between Socrates and Glaucon, Plato’s older
brother.
 In it, Glaucon argues that only the fear of
detection and punishment prevents a human
being from breaking the law and doing evil for
the sake of his own self-interest.
www.InsuranceCommunityUniversity.com
.
14
Socrates and Glaucon
 Glaucon thinks that this natural fact is
demonstrated by the fable of the shepherd
Gyges, who found a gold ring which made him
invisible whenever he twisted it on his finger.
 On realizing the ring’s power, Gyges used it to
seduce the queen, murder the king, and take
the throne.
www.InsuranceCommunityUniversity.com
.
15
Socrates and Glaucon
 Glaucon’s claim then, is that every one of us,
however law-abiding and good we might seem,
would do as Gyges did, or something else in our
self-interest, if we could avoid detection and
punishment.
www.InsuranceCommunityUniversity.com
.
16
Philosophy Branches
Metaphysics
Existentialism
Epistemology
Ethics
Study of
Existence &
Nature
Aristotle,
Spinoza,
Descartes
Study of
Knowledge
Descartes,
Hume, Kant
Study of
Good and
Evil
Plato,
Aristotle,
Socrates
www.InsuranceCommunityUniversity.com
.
17
Philosophy Branches
Logic
Religion
and Law
Study of
Methods of
Thinking
Study of
Societal
Existence
www.InsuranceCommunityUniversity.com
.
Misc
Augustine
Aquinas
18
What Does Ethics Mean?
www.InsuranceCommunityUniversity.com
.
19
What is Ethics?
 Various Definitions coming from various
disciplines
 Webster Dictionary: “The discipline dealing
with what is good and bad and with moral
duty and obligation”
 Golden Rule: “Do unto others what you
would want them to do unto you”
www.InsuranceCommunityUniversity.com
.
20
What is Ethics?
 Ayn Rand, Russian-American novelist and
philosopher (1905-1982): Ethics is a code of values
which guide our choices and actions and determine
the purpose and course of our lives.”
 Cambridge Dictionary of Philosophy, 1995: The word
itself is sometimes used to refer to the set of rules,
principles, or ways of thinking that guide, or claim
authority to guide, the actions of a particular group;
and sometimes it stands for the systematic study of
reasoning about how we ought to act.
www.InsuranceCommunityUniversity.com
.
21
Ethics vs. Morality
It is not always that simple a decision
www.InsuranceCommunityUniversity.com
.
22
Ethics vs Morality
 Often these words are used interchangeably
 Morals define personal character
 Ethics stress a social system to which morals
are applied. Ethics point to standards of code
of behaviour expected by the group to which
individuals belong
www.InsuranceCommunityUniversity.com
.
23
Ethics vs Morality
 Case in point: a criminal defense attorney.
 The lawyers personal moral code my find
murder immoral and reprehensive
 Ethics demand the accused client be
defended
 In a court of law past actions of the
accused may be kept out of evidence so as
not to prejudice the jury
www.InsuranceCommunityUniversity.com
.
24
Ethics vs. Morality
“I think it would be more along the lines of: A
Moral man does not steal because it goes
against his own beliefs, whereas an ethical
man simply wouldn't steal because it's against
the law.” (Wisegeek.com)
www.InsuranceCommunityUniversity.com
.
25
Ethics vs. Morality
 Often times the conflict with Ethics and
Morality deal with very sensitive topics of
which there are very divergent “personal”
decisions.
 Abortion
 Bearing Arms
www.InsuranceCommunityUniversity.com
.
26
Ethics and Morality
 This conflict is often at issue in the
workplace
 Example
www.InsuranceCommunityUniversity.com
.
27
Have you ever….Tell the truth




Lied to your parents
Lied to your spouse/children
Cheated on an exam
Lied
 (about your weight on your drivers license)
 Cheated on your taxes
www.InsuranceCommunityUniversity.com
.
28
Ethics of America
Josephson Institute
29
www.InsuranceCommunityUniversity.com
.
Josephson Institute 10-2009
Survey
 On-Line
 6,930 respondents
 Age groups
 17 and under
 18-24
 25-40
 41-50
 Over 50
30
www.InsuranceCommunityUniversity.com
.
Age Matters
 Young generations more likely to engage in
dishonest conduct
 17 or under: 51% believe lying and
cheating or necessary to succeed
 Over 50: 10%
 17 or under: 31% deceive boss
 Over 50: 8%
 18-24: 7% inflated an insurance claim
 Over 40: 2%
31
www.InsuranceCommunityUniversity.com
.
Attitude Matters
 If the person holds a belief that lying and cheating are
necessary (cynics) – that person more likely to lie and
cheat
 Cynics are:
 Three times more likely to lie to a customer (22%
vs. 7%)
 Inflate an expense claim (13% v. 4%), or inflate an
insurance claim (6% vs. 2%)
 More than twice as likely to conceal or distort
information when communicating with their boss
(24% vs. 10%).
32 www.InsuranceCommunityUniversity.com
.
Inflating Insurance Claim
 Age
 18-24 (7%)
 25-40 (3%)
 41-50 (2%)
 Over 50 (2%)
 Attitude
 Those who believe one has to lie or cheat at least
occasionally in order to succeed are three times
more likely to cheat an insurance company (6% v.
2%)
33
www.InsuranceCommunityUniversity.com
.
Lying to a Customer
 About something significant in the past year
 Age:
 18-24 (18%)
 25-40 (12%)
 41-50 (8%)
 Over 50 (6%)
34
www.InsuranceCommunityUniversity.com
.
Ethics and Self Image
 Percentage who said they're satisfied with
their own ethics and character
 Age
 17 or under (90%)
 18-24 (94%)
 25-40 (90%)
 41-50 (91%)
 Over 50 (90%)
35
www.InsuranceCommunityUniversity.com
.
Ethics and Self Image
Attitude:
• Those who believe one has to lie or cheat at least
occasionally in order to succeed are less likely to
be satisfied with their own ethics and character
than others (87% v. 91%)
Religious Beliefs:
• People who say religion does not play an
important role in their lives are just as likely to be
satisfied with their own ethics and character as
those who say religion is important (91%).
36
www.InsuranceCommunityUniversity.com
.
Ethics and Self Image
 Percentage who said they are more ethical
than most people they know:
 Age: 17 or under (64%)
 18-24 (73%)
 25-40 (71%)
 41-50 (69%)
 Over 50 (67%)
37
www.InsuranceCommunityUniversity.com
.
Josephson Six Pillars of
Character
Trustworthiness
Respect
Responsibility
Fairness
Caring
Citizenship
38
www.InsuranceCommunityUniversity.com
.
Influences on Behavior
• Family, church, and school provide the
foundations for behavior early in life
• Greed and power can both influence one’s
perception of acceptable behavior
• Competition can drive behavior
• The actions of business associates can affect
patterns of corporate behavior
• Fear of discovery can adversely affect
individual behavior
www.InsuranceCommunityUniversity.com
.
39
Common Rationalizations for Not
Doing What’s Right
•
•
•
•
•
•
•
•
Everyone else does it
Nobody will care
The boss does it
No one will know
I don’t have time to do it right
That’s close enough
Some rules were meant to be broken
It’s not my job
www.InsuranceCommunityUniversity.com
.
40
It is Often About Perceptions
Stereotyping
www.InsuranceCommunityUniversity.com
.
41
Rank the Following
 Attorney, Car Salesman, Insurance
Agent/Broker, Clergy
 Rank them according to your perception of
their ethical standards.
 Rank them according to what you believe is
the public’s perception
www.InsuranceCommunityUniversity.com
.
42
Gallup Results




Clergy
Lawyer
Insurance Agent
Car Sales Person
www.InsuranceCommunityUniversity.com
.
43
www.InsuranceCommunityUniversity.com
.
44
Ethics in the Workplace
• Ethical behavior starts at the top. If
leadership and management is not ethical,
neither will the organization be as a whole
• How many times have you been asked to
do something that you know is not right
• What did you do?
www.InsuranceCommunityUniversity.com
.
45
Have you ever???????????
 Put something on an application that was not
entirely true (500 feet)
 Not put something on an application because
you thought it would result in a rejection
(vacant building)
www.InsuranceCommunityUniversity.com
.
46
Have you ever???????????
 Misrepresented
 Mileage on a PAP
 Existence of youthful drivers
 Prior accidents/losses
 Claims
 Class Codes
 Payroll
 Age/Sq Footage of the building
www.InsuranceCommunityUniversity.com
.
47
True Statement
 “I am not a really successful agent because I
am just too honest”
www.InsuranceCommunityUniversity.com
.
48
Have you ever???????????
 Been asked to do something that you thought
was not right by your boss, manager
 What did you do?
www.InsuranceCommunityUniversity.com
.
49
Ethics in the Workplace
Factors influencing the reporting of unethical
conduct (whistle blowing)
• Fear of reprisal (by management)
• Fear of reprisal (by co-workers)
• Fear of personal reputation
• Fear of job loss
www.InsuranceCommunityUniversity.com
.
50
Ethics in the Workplace
 Ethical behavior starts at the top. If
leadership and management is not ethical,
neither will the organization be as a whole
 Every business should have a Code of Ethical
Conduct
 Education of employees in ethical conduct is
essential in preventing unethical conduct
www.InsuranceCommunityUniversity.com
.
51
Ethics and Insurance
www.InsuranceCommunityUniversity.com
.
52
Ethics and Insurance
 The importance of ethics to the insurance
professional
 Insurance is a business of trust
 Trust anticipates standards of behavior
 Some standards of behavior are governed
by statute
 Statutory obligations should not be the
reason for ethical behavior
www.InsuranceCommunityUniversity.com
.
53
Ethics and Standard of Care
 Insurance agent/brokers must meet a
standard of care acting in the capacity
providing insurance products/solutions
 The standard of care is three pronged
www.InsuranceCommunityUniversity.com
.
54
Standard of Care and Ethics
Based on
Regulations
and Law
Duties owed
to the
Insurance
Company
www.InsuranceCommunityUniversity.com
.
Duties owed
to the
insurance
customer
55
Basics of Standard of Care
 Based on Regulations
 Compliance with such issues as GLBA, Privacy Acts,
authority as an agent/broker
 To the Insurance Company
 That the submission qualifies for the insurance
carrier
 That you are honest and accurate
 To the Insurance Customer
 Ordinary care to obtain the coverages they have
requested
www.InsuranceCommunityUniversity.com
.
56
Code of Ethics
www.InsuranceCommunityUniversity.com
.
57
Implementing the Code
of Conduct
 Make sure senior management endorses
 Circulate Code to all employees
 Regularly review Code with employees
e.g. performance reviews)
www.InsuranceCommunityUniversity.com
.
58
Implementing the Code
of Conduct
 Publicize code externally (clients,
insurers)
 Enforce the Code
 Incorporate as part of new
employee orientation
www.InsuranceCommunityUniversity.com
.
59
Your Code of Ethics
 Conflicts of Interest
 Examines ways to spot and handle complex
situations where the employee's personal
interests, or the interests of a family
member, may compete with the
organization's or shareholders' interests
www.InsuranceCommunityUniversity.com
.
60
Your Code of Ethics
 Environment
 An employees' responsibilities to perform
their work and maintain their workplace in
a safe and lawful manner along with the
responsibility to immediately report any
injuries or potential hazards.
www.InsuranceCommunityUniversity.com
.
61
Your Code of Ethics
 Equal Employment Opportunity (EEO)
 Provides employees with practical questions
to ask themselves to guide them in refraining
from comments or actions that could be
reasonably considered as harassing or
discriminatory. It also teaches that employees
should not be retaliated against for engaging
in protected EEO activity.
www.InsuranceCommunityUniversity.com
.
62
Your Code of Ethics
 Fair Dealings - teaches the rules for fair
treatment of customers, vendors, and
competitors
 Financial Integrity - discusses processes to
properly account for expenses, hours
worked, and other items and how
discrepancies in their accounting can impact
the validity of the organization's books and
records
www.InsuranceCommunityUniversity.com
.
63
Your Code of Ethics
 Gifts and Favors - examines the rules for giving
to and receiving gifts and favors from vendors,
customers, and other employees
 Confidential Information - discusses
safeguarding private information relating to
business operations, clients, vendors, and
employees
www.InsuranceCommunityUniversity.com
.
64
Approaches to Ethical Behavior
Situation
Based
Rule
Based
People
Based
www.InsuranceCommunityUniversity.com
.
65
Ethical Decision Making
 Situation Based: What is the best possible
outcome given these circumstances?
 Rule Based: Follow the rules, and let the
chips fall where they may.
 People Based: Follow the Golden Rule: what
would you have others do if faced by the
same situation?
www.InsuranceCommunityUniversity.com
.
66
Case Studies
What Would You Do??
www.InsuranceCommunityUniversity.com
.
67
Simplified Moral Approaches
 Situationism
 Subjectivism
 Absolutism
 Exceptionism
www.InsuranceCommunityUniversity.com
.
Ethical Decisions occur in
every phase of the insurance
transaction
 Prospecting
 What do you say about yourself
 What does your website say about you
 Presentations
 Overstating your abilities or what the policy
may cover
www.InsuranceCommunityUniversity.com
.
69
Ethical Decisions occur in
every phase of the insurance
transaction
 Transactional issues
 Applications
 Marketing
 Binders
 Certs
 Renewals
www.InsuranceCommunityUniversity.com
.
70
The case of the Best Set of
Drivers--ever
About the Application
www.InsuranceCommunityUniversity.com
.
71
The case of the Best Set of
Drivers--ever
 The insurance agent had several large
accounts all of which had fleets of vehicles
 One of the accounts had a fleet of drivers with
excellent driving records and accordingly, the
BAP was easy to place and very well priced
 One of the other accounts the broker wrote
had the opposite—terrible drivers
www.InsuranceCommunityUniversity.com
.
72
The case of the Best Set of
Drivers--ever
 The agent had a great idea—use the listing of
good drivers on the second account
 How could he get caught—it was with a
different carrier and he had the MVRs to
submit
 This way he could get his insured a good rate
and save his account
www.InsuranceCommunityUniversity.com
.
73
Outcome
 Situation Based: The agent knew the
company would never really check. He had
slipped some by before
 Rule Based: He knew this was not right but as
long as he wasn’t caught he would be ok
 People Based: His role is to do the best for his
client and that what he was doing
www.InsuranceCommunityUniversity.com
.
74
Outcome
 The office manager found the mis-statements
on the file and forced the agent to re-submit
 The client was forced to get rid of some
drivers
 At renewal the client found a new agent that
would lie for him
www.InsuranceCommunityUniversity.com
.
75
The Case of the Deep Fat
Fryer
Renewal Application
www.InsuranceCommunityUniversity.com
.
76
The Case of the Deep Fat
Fryer
 The insured was a chain of sandwich shops
located in office buildings
 The sandwich shops did no cooking other than
to warm up food in a microwave
 Their insurance was placed with an insurance
company that offered a modified restaurant
package specifically for businesses that did
not do cooking
www.InsuranceCommunityUniversity.com
.
77
The Case of the Deep Fat
Fryer
 At the second renewal, the insured told their
agent that they were doing deep fat frying at
their location at Universal Studios. They were
limiting it to frying French fries they could
serve with their sandwiches.
 The agent at renewal chose not to include this
information on the application because the
frying would disqualify them from the
program for their entire risk
www.InsuranceCommunityUniversity.com
.
78
The Case of the Deep Fat
Fryer
 The insured suffered a major fire at the
Universal Studio location doing damage to
their leased premises; equipment and
subsequent fire damage to the building
 The insurance company denied coverage
based on the “increased hazard” section of
the policy
www.InsuranceCommunityUniversity.com
.
79
The Case of the Deep Fat
Fryer
 Company further alleged that they would
never had written the account with the frying
 Additionally the insured had not adequately
protected the premises with an approved
Ansell system.
 The client told the company they had advised
the agent
www.InsuranceCommunityUniversity.com
.
80
Outcome
 Insurance Agent was held responsible for
misrepresentation
 Claim was $950,000
www.InsuranceCommunityUniversity.com
.
81
The Young Driver
You Should Not Have Told Me
www.InsuranceCommunityUniversity.com
.
82
The Young Driver
 Sally and Beth had been friends since
childhood and shared raising their kids
together
 Sally also wrote all the personal lines
insurance for Beth
 One day Beth called up Sally to share the
news that their son, Ryan, had just gotten his
driver’s license
www.InsuranceCommunityUniversity.com
.
83
The Young Driver
 Sally was glad to hear the news but now faced
the ethical decision as to whether she should
tell her excited friend she needed to add him
to their policy
 And we all know what that was going to cost!
www.InsuranceCommunityUniversity.com
.
84
The Young Driver
 Situation-based: You were just told this by a
friend. You know that the son is covered
automatically on the policy Beth has and she
can save some money until renewal when the
company requires the updated information
www.InsuranceCommunityUniversity.com
.
85
The Young Driver
 Rule Based: The rule is that all licensed
drivers should be reported to the insurance
company. That is an obligation you have to
the carrier and that is, after all, how they
charge adequate premium. Many companies
are obligating the insured by application to
notify.
www.InsuranceCommunityUniversity.com
.
86
The Young Driver
 People Based: Why lose a friend over this. It
was just told to you as a friend. Beth did not
call to add Ryan on the policy to begin with.
www.InsuranceCommunityUniversity.com
.
87
The 5PM Friday Certificate of
Insurance
www.InsuranceCommunityUniversity.com
.
88
The 5PM Friday Certificate of
Insurance
 You are the last one left in the office
 Your client walks in the front door
 He needs a certificate “now” or he will lose
the deal
 You tell him to wait and you’ll issue the cert
 You pull his file and realize it with an E & S
Broker
www.InsuranceCommunityUniversity.com
.
89
The 5PM Friday Certificate of
Insurance
 Trying a long shot, you call the carrier and
actually get someone this late on a Friday! But
they tell you only the E&S broker listed on the
account has the carrier’s authorization to
issue the certificate.
www.InsuranceCommunityUniversity.com
.
90
The 5PM Friday Certificate of
Insurance
 Hanging up, you stare at your desk. You are
certain the broker will issue the certificate on
Monday without any problem, but what are
you to do about your anxious client who is
waiting in the outer office?
www.InsuranceCommunityUniversity.com
.
91
The 5PM Friday Certificate of
Insurance
 Situation-based: Past experience indicates
broker, if there, would issue the certificate;
you have no doubt that if the broker were in
your position, he would elect to help the
client, and since possible pain of delay is far in
excess of possible downside of not helping
client, go ahead and issue certificate.
www.InsuranceCommunityUniversity.com
.
92
The 5PM Friday Certificate of
Insurance
 Rule-based: You have no authority to issue
the certificate, so regardless of the
consequences (including potential loss of a
valuable client), you must refuse to do so
www.InsuranceCommunityUniversity.com
.
93
The 5PM Friday Certificate of
Insurance
 People-based: Let’s make an exception—after all
look at that distraught client. Procedures are valid
for normal situations. The client’s position, you
have no doubt you would deeply appreciate the
professional service of your agent stepping in to
help you out, so you should do the same.
www.InsuranceCommunityUniversity.com
.
94
The Competition Has Pulled
One On You
www.InsuranceCommunityUniversity.com
.
95
The Competition Has Pulled
One On You
 Your client has told you he is shopping with
other brokers
 You arrive for your appointment to present
your renewal quotation and your client tells
you he has received a better price
www.InsuranceCommunityUniversity.com
.
96
The Competition Has Pulled
One On You
 You ask if you might see it and he agrees to
show you
 You realize you represent that same carrier
and know it is a great program
 You are certain your client does not qualify for
this program and that the agent trying to steal
the account has not told the insurance
company the whole truth
www.InsuranceCommunityUniversity.com
.
97
The Competition Has Pulled
One On You
 Situation-based: Even though the carrier may
never find out, the prospect is really getting an
unfair advantage; if the carrier does find out,
the other agent’s reputation and future ability
to place business with that carrier is likely to be
impaired. Maybe an informal visit to the agent’s
supervisor, can settle the entire issue quietly,
leading the other agent to withdraw his
erroneous proposal without any damage
beyond a possible unhappy prospect.
www.InsuranceCommunityUniversity.com
.
98
The Competition Has Pulled
One On You
 Rule-based: The underwriting rules has a valid
purpose and this insurance should never have
been offered. Since you represent this company
too, you have an obligation to the carrier to let
them know of the misrepresentation before it is
too late.
www.InsuranceCommunityUniversity.com
.
99
The Competition Has Pulled
One On You
 People-based: Don’t you owe some
responsibility to your “old” client. After all he is
saving money and it is not his fault. When you
were new you did the same thing and you are
certainly glad no one took away one of your few
accounts over such an error.
 What goes around comes around!
www.InsuranceCommunityUniversity.com
.
100
I Forgot to Market to That
Insurance Company
Should that cost me this account?
www.InsuranceCommunityUniversity.com
.
101
I Forgot to Market to That
Insurance Company
 Your insured is very cost conscience and has
asked you to search the market for the “best
deal”.
 You went to several insurance companies and
thought you had found the best deal.
 The day before your meeting with the client,
your insured calls to tell you he heard that
Cheap and Easy Insurance has really good
rates according to his friend.
www.InsuranceCommunityUniversity.com
.
102
I Forgot to Market to That
Insurance Company
 You did not get a quote from company Cheap
and Easy and it is too late for you to ask them
as the appointment is tomorrow and the
policy renews in a week.
www.InsuranceCommunityUniversity.com
.
103
I Forgot to Market to That
Insurance Company
What do you tell your client at the meeting?
• Yeah, I checked with them and they didn’t like
your loss potential
• Sorry, but they were not on my contact list
and I did not contact them
• I know the market and they would not be a
good fit for you
• I’ll do a better job next year, but it is too late
this year
• Is Honesty the Best Policy in this case
www.InsuranceCommunityUniversity.com
.
104
When All Is Said And Done
It is about doing the right thing each and
every time
Being Honest and Having Integrity
www.InsuranceCommunityUniversity.com
.
105
Visit me on my website at
www.insightinsuranceconsulting
.com
Coming this fall become a part of The
Insurance Community Center. A Center
for learning and a Community for Sharing
www.insurancecommunitycenter.com
www.InsuranceCommunityUniversity.com
.
106