Ethics i sa5483


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  • If everyone could please take a moment to switch your phones or pagers to vibrate. I have not turned off my phone in years so I don’t expect you to do that. We realize and appreciate that all of you are taking time away from your offices to be here. The national statistic is that for an agent to make a reasonable living they have to represent around 1500 policies. Does that number hold true here? Since our industry is ruled by Murphy’s Law I’m guessing that somebody will need to take a call. So should the need arise feel free to step out of the room and take important calls but realize that the State does have minimum attendance rules and be aware of the people around you. Before I start I’d like to get a feel for who’s in the room. How many of you are adjusters? Agents? Agents that handle claims? What are you looking for in this class? What information would you like to take back to your office? Remember this class was written by an instructor, it’s owned by Paul Davis, it’s been reviewed and approved by the State but the class belongs to you. If you are particularly interested in some aspect of the subject let me know. We will spend as much time as you want on the areas that are the most useful to you on a daily basis.
  • Flood conditions are always category 3. For the water to rise to this level it has already overflowed all sewage systems.
  • Ethics i sa5483

    1. 1. Ethically Speaking Part 1
    2. 2. A Moment of Silence….
    3. 3. OUR COMPANY VALUES <ul><li>Integrity </li></ul><ul><li>At Paul Davis Restoration, we believe strongly in the importance of integrity. It guides us in our selection of franchisees, employees, and the trades people with whom we work. We do what we say we are going to do, and we make every attempt to do things right—the first time. We write our repair and remodeling estimates fairly and never seek excessive profits. </li></ul><ul><li>Respect </li></ul><ul><li>We believe it is important to show respect to our clients and customers in every encounter. We respect and appreciate those whose jobs impact our work including insurance adjusters, building inspectors and material suppliers. We respect our fellow employees and value their insight and input. </li></ul><ul><li>Compassion </li></ul><ul><li>We understand that many of our customers come to us only after they have had a traumatic event such as a fire or a flood. We have chosen this line of work because we can use our skills to help those in need. We also use these skills to help those that are not as fortunate, as when we provide our services to non-profit organizations. </li></ul><ul><li>Communication </li></ul><ul><li>Our core competency is project management. We know that most problems stem from inadequate or improper communication. We strive to establish expectations with our customers, and we stay on schedule </li></ul>
    4. 8. What are Ethics? <ul><li>According to Aristotle: </li></ul><ul><li>Ethos is a Greek term from which ethics is derived and is referred to as ethical appeal in the rhetorical context. </li></ul><ul><li>The basis of rhetoric is formed from the author's attitude and character toward his audience. </li></ul><ul><li>His character is what gives value to his words and thus, provides support and proof to his arguments. </li></ul>
    5. 9. Definitions <ul><ul><ul><li>1 . ethics </li></ul></ul></ul><ul><ul><ul><ul><li>A set of principles of right conduct. </li></ul></ul></ul></ul><ul><ul><ul><ul><li>A theory or a system of moral values: “An ethic of service is at war with a craving for gain” </li></ul></ul></ul></ul><ul><ul><ul><li>2. ethics </li></ul></ul></ul><ul><ul><ul><ul><li>The study of the general nature of morals and of the specific moral choices to be made by a person; moral philosophy. </li></ul></ul></ul></ul><ul><ul><ul><li>3. e thics </li></ul></ul></ul><ul><ul><ul><ul><li>The rules or standards governing the conduct of a person or the members of a profession. </li></ul></ul></ul></ul><ul><li>The American Heritage® Dictionary of the English Language, Fourth Edition </li></ul>
    6. 10. Definitions <ul><ul><ul><li>ethics </li></ul></ul></ul><ul><ul><ul><ul><li>1: motivation based on ideas of right and wrong </li></ul></ul></ul></ul><ul><ul><ul><ul><li>2: the philosophical study of moral values and rules </li></ul></ul></ul></ul><ul><li>WordNet ® 1.6, © 1997 Princeton University </li></ul>
    7. 11. The Golden Rule <ul><li>The Golden Rule or ethic of reciprocity is an ethical code , or a morality , that is essentially expressed in these two forms </li></ul>
    8. 12. The Golden Rule <ul><li>Treat others as you would like to be treated </li></ul><ul><li>Do not treat others in ways you would not like to be treated (also called the Silver Rule) </li></ul>
    9. 14. Backup of Sewer Drain – Sump pump failure endorsement <ul><li>Water from nonfunctioning sumps and from backup through drains in basement floors can cause substantial loss, varying according to the nature of the property-real and personal-that is exposed and damaged. Such loss is not covered by basic homeowners policies but may be covered by an optional endorsement. </li></ul><ul><li>A water damage exclusion common to homeowners policies applies to damage caused by water from three sources: </li></ul><ul><li>1. flood, surface water, waves, tidal water or overflow of a body of water </li></ul><ul><li>2. water below the surface of the ground that exerts pressure on or leaks through or into a structure </li></ul><ul><li>3. water that backs up through sewers or drains or overflows from a sump. </li></ul>
    10. 16. In terms of ethics, what do you think of when I show you the following pictures?
    11. 20. Morality .vs. Ethics <ul><li>Right .vs. Wrong IS NOT Ethics </li></ul><ul><li>Right .vs. Wrong IS Morality </li></ul><ul><li>Right .vs. Right IS Ethics </li></ul>
    12. 21. Moral and/or Legal Decisions <ul><li>Honesty .vs. Lying </li></ul><ul><li>Paying .vs. Stealing </li></ul><ul><li>Playing by the Rules .vs. Cheating </li></ul>
    13. 22. Ethical Decisions <ul><li>Honesty .vs. Loyalty </li></ul><ul><li>I need to honestly answer your question .vs. I promised to keep the information confidential. </li></ul><ul><li>Short-Term .vs. Long-Term </li></ul><ul><li>Go on expensive vacation with the kids .vs. Save for College Education </li></ul><ul><li>Justice .vs. Mercy </li></ul><ul><li>You embezzled money, so you’re fired .vs. I know you’re having problems at home, so lets work out a payback schedule and never let this happen again. </li></ul><ul><li>Individual .vs. Community </li></ul><ul><li>I know a college degree from night school will get you out of that dead-end job, but the kids hardly ever see you now. </li></ul>
    14. 25. The Basics of Insurance Ethics <ul><li>Honesty --Truthful,straightforward, sincere </li></ul><ul><li>Integrity -- honorable, courage of conviction, stands up for beliefs </li></ul><ul><li>Respect for Others --Freedom, dignity, and rights </li></ul><ul><li>Caring/Compassion -- not selfish, manipulative, or controlling </li></ul><ul><li>Fiduciary Responsibility -- Fidelity, Loyalty, Disclosure </li></ul><ul><li>Personal Responsibility --Accountability, considers action </li></ul><ul><li>Trust --Confidant, promise-keeper, reliable, dependable </li></ul><ul><li>Altruistic -- puts others first </li></ul><ul><li>Good Judgement --makes the right choices, fair, not prejudice </li></ul>
    15. 27. What stands in the Way? <ul><li>1 in 6 Americans regularly drinks or uses drugs on the job. </li></ul><ul><li>1 in 2 Americans genuinely believes you get ahead by politics and cheating, not by work. </li></ul><ul><li>American workers admit they spend more than 20% of their work day “goofing off”. </li></ul><ul><li>Americans feel the #1 cause of business decline is low executive ethics. </li></ul>
    16. 28. Are you a “Professional” ? <ul><li>Commitment to High Ethical Standards </li></ul><ul><li>Prevailing Attitude of Altruism </li></ul><ul><li>Mandatory Education Preparation / Training </li></ul><ul><li>Mandatory Continuing Education </li></ul><ul><li>A formal Association or Society </li></ul><ul><li>Independence </li></ul><ul><li>Competence </li></ul>
    17. 29. Ethics Resource Center
    18. 30. Ethics Resource Center
    19. 31. Ethics Resource Center
    20. 32. Ethics Resource Center
    21. 33. VALUES vs. ETHICS <ul><li>Values </li></ul><ul><li>Pam is a 55 year old professional. </li></ul><ul><li>She will tell you that family is at the very center of her life. </li></ul><ul><li>She has re-arranged her hours around her family. </li></ul><ul><li>She has located her office near the day care center. </li></ul><ul><li>It is not just lip service, Pam values Family. </li></ul><ul><li> Ethics </li></ul><ul><li>Pam has put aside sufficient money for college and needs. </li></ul><ul><li>Pam purchased a new luxury car. </li></ul><ul><li>Her children are careful with her car. </li></ul><ul><li>The car is a symbol of Pam’s hard work and success. </li></ul><ul><li>While pulling into the garage, Pam hears an unmistakable scraping noise, stops the car and demands to know what happened. </li></ul><ul><li>Her youngest daughter opened her door too soon striking the side of the garage causing considerable damage. </li></ul>
    22. 34. VALUES vs. ETHICS Values are what you believe. Ethics are what you do.
    23. 35. Can Ethics be Taught? <ul><li>Imprinting </li></ul><ul><li>Training </li></ul><ul><li>Ethical Re-Education </li></ul><ul><li>Look to our Peers </li></ul>
    24. 36. Ethics Training Classes <ul><li>Results indicate that far fewer hours spent on Ethics Training than on Sales Training. </li></ul><ul><li>No significant relationship between Ethical Intent/Behavior and having received training, or the number of hours or training. </li></ul><ul><li>Ineffective Training cannot be expected to improve ethical conduct. </li></ul><ul><li>Must take a clear and communicated stand on issues and rewards--Ethics Nobel Prize? </li></ul><ul><li>Must be the “centerpiece” of strategic operations. </li></ul>
    25. 37. Opposition to Training Classes <ul><li>I already know Right from Wrong-Insulted </li></ul><ul><li>“ No Brainer’s” and “Grey Areas” </li></ul><ul><li>Don’t have the Time- Too busy, not a priority. </li></ul><ul><li>No benefit to me--I have to produce for a living. </li></ul><ul><li>I’m just a CSR. </li></ul><ul><li>Management doesn’t have to attend. </li></ul><ul><li>Just another “edict” from above, attend the class and they’ll forget about it in a week. </li></ul>
    26. 38. Ethics and the Law <ul><li>Federal and State Laws </li></ul><ul><li>NJDOBI </li></ul><ul><li>Criminal and Civil Actions </li></ul><ul><li>Licensing Requirements </li></ul><ul><li>E & O Insurance </li></ul><ul><li>Just because it’s Legal….. is it Right? </li></ul>
    27. 39. Illegal Acts of an Agent <ul><li>Misrepresentation </li></ul><ul><li>Windowing </li></ul><ul><li>Altering Applications </li></ul><ul><li>Improper Handling of Monies </li></ul><ul><li>Not Complying with License Requirements </li></ul><ul><li>Rebating / Twisting / Churning </li></ul><ul><li>Practicing Law or Accounting </li></ul><ul><li>Discrimination / Redlining </li></ul><ul><li>Fraud </li></ul><ul><li>False Advertising </li></ul>
    28. 40. Error’s & Omissions <ul><li>Breach of Carrier Contract </li></ul><ul><li>Intentional Acts </li></ul><ul><li>Criminal Acts </li></ul><ul><li>Acting as a Finance Company </li></ul><ul><li>Privacy Act (GLB), Sarbanes-Oxley, HIPPA </li></ul><ul><li>MVR’s, CLUE, Credit Reports </li></ul><ul><li>Altering Certificates of Insurance </li></ul>
    29. 41. Why do people break the Rules? <ul><li>Ignorance </li></ul><ul><li>Greed </li></ul><ul><li>Temptation </li></ul><ul><li>Virtues and Vices </li></ul>
    30. 42. Do the Rules Change? <ul><li>Does it Depend on the Situation? </li></ul><ul><li>Situational Based Ethics -- what is the best possible outcome </li></ul><ul><li>Rule Based Ethics --the rule is the rule, ignorance is no excuse </li></ul><ul><li>People Based Ethics --the Golden Rule, Universally accepted </li></ul><ul><li>No Right Answers </li></ul><ul><li>Two equally honest and ethical people can come up with different answers </li></ul>
    31. 43. <ul><li>Shows a wide variance in the specific types of people Americans trust. </li></ul><ul><li>Business leaders and stockbrokers join car dealers and HMO managers as the least trusted. </li></ul><ul><li>Teachers and Nurses are the most trusted group of people. </li></ul>CNN/USA Today/Gallup Poll
    32. 44. Why be Ethical ? <ul><li>Religion / Beliefs </li></ul><ul><li>Personal Ideals </li></ul><ul><li>Public Image </li></ul><ul><li>Fear of Punishment </li></ul><ul><li>Reduce E & O Exposure </li></ul><ul><li>Peer Example / Pressure </li></ul><ul><li>Set an Example </li></ul>
    33. 45. Questions?
    34. 46. Thank You For Coming!