“Professional Ethics in
the Insurance Industry”
A Continuing
Education Course
(3 hours)
Subject
Richard S. Pitts
8900 Keystone Crossing, Suite 800
Indianapolis, Indiana 46240
(317)-554-8592
(317)-554-8593 (fax)
rpitts@arlingtonroe.com
Subtopics
Introduction / Agenda
From To
CE Min.
1:30
1:35
5
Personal versus
Professional Ethics
The curious case of the
covenants
1:35
1:45
10
Sources of Professional
Ethics
Professional Duties
1:45
1:50
5
Contractual Obligations
1:50
Statutory Requirements and 2:00
Licensure
Trade and Professional
2:10
Associations
2:00
2:10
10
10
2:20
10
2:20
2:30
0
2:30
2:40
2:50
2:40
2:50
3:00
10
10
10
3:00
3:05
3:05
3:15
5
10
3:15
3:25
0
3:25
3:40
15
3:40
3:50
10
3:50
4:00
0
4:00
5:00
60
BREAK
The “Hot Spots”
Privacy
Conflicts of Interest
Compensation
Arrangements
Regulatory statistics
Industry statistics
BREAK
Curatives and
Preventatives
Corporate Ethics
Statements
Individual Professional
Ethics Statements
BREAK
Studies in Professional
Ethics
Case Studies
180 (3
C.E.
Hours)
Narrative Description / Learning Objectives
This three hour seminar is a fast-paced examination of many facets of
professional ethics. The seminar is in five major parts, and is designed to give
participants an overview of approaches to professional ethics issues. The first section
discusses the difference between personal ethics and professional ethics, using the
example of covenants not to compete. Some professions’ ethical standards frown on
covenants; other professions embrace them. The main objective here is to demonstrate
that professional ethics are not necessarily intuitive.
The second major section reviews objective ethical standards that are embraced
in four major areas: case authorities describing the obligations owed to a client;
contract requirements describing obligations owed to companies; statutory duties owed
to the public by virtue of licensure; and trade association standards providing the goals
and standards to which members of the profession should aspire.
The third section reviews and is designed to educate participants on the ethical
“hot spots,” the areas where professionals are, at least statistically, most likely to
encounter difficulties. This section focuses on the recent, headline-grabbing issues of
compensation and privacy of information, and also reviews enforcement statistics from
various states and industry groups.
Section four addresses the use of ethics statements, both personally and on an
agency-wide basis. Borrowing ethics statements and standards from a variety of
industries and professions, this section is designed to instruct participants on a “best
practices” approach to developing, fostering and maintaining an ethical environment.
The last section is an opportunity for participants to put to use the prior sections.
Small discussion groups review actual, case-based situations to determine the best
ethical resolution and decide how the controversy could have been avoided.
Speaker Biography
Richard S. Pitts is a 1983 graduate of Wabash College and a 1986 graduate of
Indiana University School of Law – Indianapolis. Pitts clerked for the Honorable
Patrick D. Sullivan, a judge of the Indiana Court of Appeals in 1986-87. Rick is admitted
to practice before Indiana state and federal courts, the United States Supreme Court and
the United States Court of Appeals for the Seventh Circuit and is a member of local,
state and national bar associations.
Pitts has served as a panelist and lecturer on a variety continuing education
subjects, including the Americans with Disabilities Act, “Mold: Issues Under the
Microscope” for the Indiana Continuing Legal Education Forum (ICLEF), and
“Insurance Issues for Builders” for the Indiana Builders Association. In 2007, Rick
provided continuing education seminars to the Professional Independent Insurance
Agents of Illinois and has conducted continuing education seminars in other states.
Rick has also served as chair of ICLEF’s “Advanced Corporate Practice” seminar and as a
faculty member for various construction law seminars for Lorman Education Services.
Pitts has co-authored two articles appearing in the Indiana Law Review.
Pitts serves as general counsel to the Independent Insurance Agents of Indiana,
Inc. As counsel to the “Big I,” Rick speaks annually at the association’s New Laws
Seminars and teaches various seminars on insurance and employment related matters.
Pitts is also general counsel to Arlington/Roe & Co., Inc., an Indianapolis-based
managing general agent.