This document discusses ethics in the insurance industry. It begins with an overview of ethics and why having strong ethics is important, especially for rebuilding trust in the insurance industry. It then discusses organizational ethics, including why companies implement codes of ethics and conduct, and some common goals and components of ethics codes. The document ends by providing scenarios to have ethical discussions around common issues insurance professionals may face.
Explains the meaning of two interrelated but distinct concepts of ethics and morality,states its need for public servants and the ways a public servant should pursue his career by following ethical principles of behaviour
GE8076 -PROFESSIONAL ETHICS IN ENGINEERING UNIT NOTES
UNIT I HUMAN VALUES 10
Morals, values and Ethics – Integrity – Work ethic – Service learning – Civic virtue – Respect for others – Living peacefully – Caring – Sharing – Honesty – Courage – Valuing time – Cooperation –Commitment – Empathy – Self confidence – Character – Spirituality – Introduction to Yoga and meditation for professional excellence and stress management
This document outlines the syllabus for a course on professional ethics in engineering. It covers 5 units: human values, engineering ethics, engineering as social experimentation, safety responsibilities and rights, and global issues. Unit 1 discusses human values like integrity, work ethic, service learning, and caring. It also introduces concepts like morals, values, and ethics.
1. Morals are generally taught by society and relate to groups, while values come from within individuals and are personal principles.
2. Morals motivate good behavior and are deep-seated, whereas values can change with time and circumstances.
3. Ethics are codes or rules set by groups, focusing on duties, while values are individual beliefs about what is good or desirable.
This document provides an overview of professional ethics from both Western and Indian perspectives. It discusses the importance of studying ethics and concepts like morality, values, and duties. It outlines ethical codes of conduct for personal, professional, and social spheres. It also addresses theoretical foundations of ethics, concerns in various professions, and how scandals and corruption demonstrate the need for strong professional ethics.
Unit I Human Values (GE8076 Professional Ethics in Engineering)Dr. SELVAGANESAN S
This document provides an overview of key concepts related to human values, morals, ethics, and professional ethics. It defines terms like morals, values, ethics, integrity, and work ethic. It describes morals as principles of right and wrong behavior, values as standards or principles held in esteem, and ethics as moral principles that govern conduct. It also discusses descriptive ethics, normative ethics, and metaethics. The document emphasizes the importance of integrity, reliability, dedication, productivity, and cooperation in developing a strong professional work ethic.
This document discusses ethics and business ethics. It defines ethics as the study of good and bad behavior and morality. Business ethics refers to applying ethical standards to business practices and decisions. The document outlines several approaches to ethical standards like utilitarianism and virtue ethics. It also discusses ethical dilemmas that can arise in business when there are conflicts between ethical decisions and business interests. Overall, the document provides an overview of ethics and emphasizes the importance of following ethical practices in business.
Ethics refers to moral principles that govern a person's behavior or the conducting of an activity. Morals are principles of right and wrong established by a particular custom, religion, or other social authority. While morals are generally established by groups, ethics define an individual's character and can vary between individuals. Both play an important role in shaping human behavior and judgment.
Explains the meaning of two interrelated but distinct concepts of ethics and morality,states its need for public servants and the ways a public servant should pursue his career by following ethical principles of behaviour
GE8076 -PROFESSIONAL ETHICS IN ENGINEERING UNIT NOTES
UNIT I HUMAN VALUES 10
Morals, values and Ethics – Integrity – Work ethic – Service learning – Civic virtue – Respect for others – Living peacefully – Caring – Sharing – Honesty – Courage – Valuing time – Cooperation –Commitment – Empathy – Self confidence – Character – Spirituality – Introduction to Yoga and meditation for professional excellence and stress management
This document outlines the syllabus for a course on professional ethics in engineering. It covers 5 units: human values, engineering ethics, engineering as social experimentation, safety responsibilities and rights, and global issues. Unit 1 discusses human values like integrity, work ethic, service learning, and caring. It also introduces concepts like morals, values, and ethics.
1. Morals are generally taught by society and relate to groups, while values come from within individuals and are personal principles.
2. Morals motivate good behavior and are deep-seated, whereas values can change with time and circumstances.
3. Ethics are codes or rules set by groups, focusing on duties, while values are individual beliefs about what is good or desirable.
This document provides an overview of professional ethics from both Western and Indian perspectives. It discusses the importance of studying ethics and concepts like morality, values, and duties. It outlines ethical codes of conduct for personal, professional, and social spheres. It also addresses theoretical foundations of ethics, concerns in various professions, and how scandals and corruption demonstrate the need for strong professional ethics.
Unit I Human Values (GE8076 Professional Ethics in Engineering)Dr. SELVAGANESAN S
This document provides an overview of key concepts related to human values, morals, ethics, and professional ethics. It defines terms like morals, values, ethics, integrity, and work ethic. It describes morals as principles of right and wrong behavior, values as standards or principles held in esteem, and ethics as moral principles that govern conduct. It also discusses descriptive ethics, normative ethics, and metaethics. The document emphasizes the importance of integrity, reliability, dedication, productivity, and cooperation in developing a strong professional work ethic.
This document discusses ethics and business ethics. It defines ethics as the study of good and bad behavior and morality. Business ethics refers to applying ethical standards to business practices and decisions. The document outlines several approaches to ethical standards like utilitarianism and virtue ethics. It also discusses ethical dilemmas that can arise in business when there are conflicts between ethical decisions and business interests. Overall, the document provides an overview of ethics and emphasizes the importance of following ethical practices in business.
Ethics refers to moral principles that govern a person's behavior or the conducting of an activity. Morals are principles of right and wrong established by a particular custom, religion, or other social authority. While morals are generally established by groups, ethics define an individual's character and can vary between individuals. Both play an important role in shaping human behavior and judgment.
This document outlines the topics and structure of an ethics course for engineers. It will cover frameworks for analyzing professional and ethical issues, various views on ethics, and the rights and responsibilities of professionals. The course will be 70% lectures and 30% discussion. Students will be graded based on midterm and final exams (70%) and case study assignments (30%). Key topics will include moral reasoning, codes of ethics, utilitarianism, and virtue ethics. Case studies will explore real-world examples like the Ford Pinto and Bhopal disaster. The goal is for students to develop skills for confronting ethical dilemmas in their professional careers.
This document provides an overview of business ethics, including:
1) It distinguishes between morality, etiquette, law, and professional codes of conduct. Morality differs as it concerns behaviors with serious consequences and depends on justification rather than governing bodies.
2) It discusses ethical relativism and how it can undermine moral criticism and progress between societies.
3) It explains the importance of individuals having moral principles and integrity, even within organizations where norms may conflict with ethics.
we are not responsible if there is any Mistake or error in this presentation. We are trying to help other students. It may not perfect.
We hope , you will get benefit from this presentation.
regards : Students of University of Engineering and Technology , Lahore, Pakistan
This document discusses concepts related to professional ethics in engineering. It covers topics like human values, morals, integrity, work ethic, service learning, civic virtue, respect for others, living peacefully, caring, sharing, honesty, courage, valuing time, cooperation, commitment, empathy, self-confidence, character, and spirituality. It defines ethics and discusses the importance of integrity, ethical decision making, codes of conduct, and ethics in information technology.
This document discusses various global issues related to engineering including multinational corporations, environmental ethics, computer ethics, weapons development, engineers as managers and consultants, and engineers serving as expert witnesses. It addresses the responsibilities and ethical considerations for engineers in these roles. Specifically, it examines the impacts of globalization and multinational corporations, the importance of environmental protection and sustainability, moral issues related to computer and weapons technologies, managing conflicts as an engineer-manager, and the duties of consulting engineers including ethical advertising, bidding, and prioritizing client safety.
Uses of ethical theories in professional ethicsSKS
Ethics is the study of right and wrong in human behavior. It is a branch of philosophy that examines moral principles. The document discusses several ethical theories including consequentialism, which judges actions based on their consequences; deontology, which considers actions morally good based on their inherent characteristics rather than outcomes; utilitarianism, which is a form of consequentialism that determines morality based on what produces the greatest benefit for the most people; ethical egoism, where moral agents act in their own self-interest; and Kantianism, where an action's morality is not based on its consequences but other factors.
This document discusses safety, responsibilities, and rights in engineering. It covers topics like safety and risk assessment, reducing risk, respect for authority, and employee rights. Safety is defined as risks that are known and judged acceptable. Risk is the probability of an unwanted event occurring multiplied by its consequences. Engineers must design for safety by considering legal standards, alternative safer designs, and preventing misuse. Testing prototypes is important to thoroughly ensure a product's safety.
Ethics is the branch of philosophy that deals with questions about morality and values. It examines what actions are right or wrong and how we should decide which values to pursue. Ethics helps us resolve conflicts about values and determine the proper course of action for humans. It provides guidance for organizing our goals and acting successfully to accomplish our most important values. The study of ethics explores different types of values like intrinsic and extrinsic values, and considers how ethics relates to other domains like religions and science.
Unit II Engineering Ethics (GE8076 Professional Ethics in Engineering)Dr. SELVAGANESAN S
This document provides an overview of Engineering Ethics. It discusses:
- The definition and scope of Engineering Ethics, which is concerned with rules and standards guiding engineers professionally.
- Variety of moral issues engineers may face, such as those related to their organization, clients, competitors, laws/regulations, and society/environment.
- Three types of inquiries in Engineering Ethics: normative inquiries identify values guiding decisions; conceptual inquiries describe meanings; and factual inquiries establish facts.
- Key concepts like morality, professionalism, and the variety of bodies that establish codes of ethics for engineers.
1. The document discusses key concepts in engineering ethics including types of ethical inquiry, moral dilemmas, and moral autonomy. It outlines two approaches to engineering ethics: micro-ethics which focuses on everyday problems, and macro-ethics which addresses societal problems.
2. Moral issues in engineering are classified into three categories: resource crunch due to time/budget pressures, opportunities for double standards or prioritizing gains, and employee attitudes due to lack of recognition/promotion.
3. There are three types of ethical inquiry: normative inquiries which identify moral standards, conceptual inquiries which clarify ethical concepts, and factual inquiries which provide information relevant to ethical issues. Solving moral dilemmas involves identifying relevant
GE8076 -PROFESSIONAL ETHICS IN ENGINEERING UNIT NOTES
UNIT I HUMAN VALUES 10
Morals, values and Ethics – Integrity – Work ethic – Service learning – Civic virtue – Respect for others – Living peacefully – Caring – Sharing – Honesty – Courage – Valuing time – Cooperation –Commitment – Empathy – Self confidence – Character – Spirituality – Introduction to Yoga and meditation for professional excellence and stress management
A Presentation on Ethics and there Three Different type's also some information about Moral Psychology and Social Ethics.And Theories of Ethics and its Three Classes of Ethical Theories.
This document discusses several topics related to ethics, including self-interest, the role of religion in morality, classical ideals of life, psychological and ethical egoism, contractarianism, feminist ethics, and ethical relativism vs absolutism. It provides details on concepts like Aristotle's virtues, Epicureanism, stoicism, John Rawls' social contract theory, and contrasts descriptive and normative ethics.
This document provides an overview of professional practice and ethics. It defines ethics and discusses professional ethics in various fields like engineering, medicine, law, media, etc. Key points include:
- Professional ethics provide guiding principles for a given profession based on its duties and standards. Examples given are medical ethics like the Hippocratic Oath.
- Types of professional ethics discussed include those for engineers, doctors, lawyers, journalists and various codes of conduct. Core principles like honesty, integrity and public service are common across most.
- The difference between personal and professional ethics is explored, with professional ethics referring specifically to standards in one's occupational field.
- Maintaining high ethical standards is important for professions to
This document discusses moral autonomy and the relationship between consensus and controversy. It defines moral autonomy as the ability to think critically and independently about moral issues. It notes that while exercising moral autonomy, individuals may arrive at different conclusions on moral issues, leading to controversy. However, some consensus is still needed. Consensus provides a framework for learning and tolerance. The document gives examples of moral dilemmas where principles conflict and no clear consensus or solution exists. It argues that authority and autonomy can be compatible if there is consensus on the role of authority.
This document introduces several ethical theories: Kantianism focuses on treating people as ends rather than means; utilitarianism evaluates actions based on their consequences and maximizing happiness; social contract theory proposes that individuals implicitly consent to moral rules for the benefit of society; and virtue ethics emphasizes cultivating moral character through habitually doing right actions. The document provides examples applying these theories to scenarios around plagiarism, highway construction, computer viruses, marketing practices, and more.
The document discusses human values such as morals, ethics and integrity. It provides definitions and examples.
Some key points:
- Morals are guiding principles of right and wrong defined individually and socially. Ethics are standards of conduct in a profession.
- Values are individual concepts of responsibility, entitlement and respect shaped by experience. They guide choices and decisions.
- The story of the carpenter illustrates losing focus on values and quality of work when not considering the impact of one's actions.
- Religions share concepts like the Golden Rule of treating others as you want to be treated. An ethics course aims to teach being ethical.
These slides are from McKonly & Asbury's webinar entitled “Professional Ethics: The Three Monkeys in the Room” which took place on Thursday, May 14, 2015.
Ethics refers to accepted standards regarding personal and social welfare. It involves studying morality and distinguishing right from wrong. Morality consists of standards around what is good/evil and right/wrong, which are typically first learned from family/society as a child and revised with experience. Moral standards deal with issues that can seriously harm or benefit people, are not determined by authorities, should be preferred over self-interest, consider all perspectives impartially, and are associated with emotions like guilt. In summary, ethics examines morality and distinguishing right from wrong based on accepted standards around welfare, not personal feelings alone.
The document discusses business ethics and corporate social responsibility. It defines ethics as principles that outline appropriate moral behavior for individuals and organizations. Business ethics became more important in the 1980s as public criticism of corporate behavior rose. To restore trust, businesses need to punish wrongdoing, increase transparency, and hold people accountable beyond just legal compliance. Various factors like values, management, and the environment influence business ethics. The document also provides examples of ethical dilemmas and discusses approaches to improving ethics through codes of conduct and other measures.
This document outlines the topics and structure of an ethics course for engineers. It will cover frameworks for analyzing professional and ethical issues, various views on ethics, and the rights and responsibilities of professionals. The course will be 70% lectures and 30% discussion. Students will be graded based on midterm and final exams (70%) and case study assignments (30%). Key topics will include moral reasoning, codes of ethics, utilitarianism, and virtue ethics. Case studies will explore real-world examples like the Ford Pinto and Bhopal disaster. The goal is for students to develop skills for confronting ethical dilemmas in their professional careers.
This document provides an overview of business ethics, including:
1) It distinguishes between morality, etiquette, law, and professional codes of conduct. Morality differs as it concerns behaviors with serious consequences and depends on justification rather than governing bodies.
2) It discusses ethical relativism and how it can undermine moral criticism and progress between societies.
3) It explains the importance of individuals having moral principles and integrity, even within organizations where norms may conflict with ethics.
we are not responsible if there is any Mistake or error in this presentation. We are trying to help other students. It may not perfect.
We hope , you will get benefit from this presentation.
regards : Students of University of Engineering and Technology , Lahore, Pakistan
This document discusses concepts related to professional ethics in engineering. It covers topics like human values, morals, integrity, work ethic, service learning, civic virtue, respect for others, living peacefully, caring, sharing, honesty, courage, valuing time, cooperation, commitment, empathy, self-confidence, character, and spirituality. It defines ethics and discusses the importance of integrity, ethical decision making, codes of conduct, and ethics in information technology.
This document discusses various global issues related to engineering including multinational corporations, environmental ethics, computer ethics, weapons development, engineers as managers and consultants, and engineers serving as expert witnesses. It addresses the responsibilities and ethical considerations for engineers in these roles. Specifically, it examines the impacts of globalization and multinational corporations, the importance of environmental protection and sustainability, moral issues related to computer and weapons technologies, managing conflicts as an engineer-manager, and the duties of consulting engineers including ethical advertising, bidding, and prioritizing client safety.
Uses of ethical theories in professional ethicsSKS
Ethics is the study of right and wrong in human behavior. It is a branch of philosophy that examines moral principles. The document discusses several ethical theories including consequentialism, which judges actions based on their consequences; deontology, which considers actions morally good based on their inherent characteristics rather than outcomes; utilitarianism, which is a form of consequentialism that determines morality based on what produces the greatest benefit for the most people; ethical egoism, where moral agents act in their own self-interest; and Kantianism, where an action's morality is not based on its consequences but other factors.
This document discusses safety, responsibilities, and rights in engineering. It covers topics like safety and risk assessment, reducing risk, respect for authority, and employee rights. Safety is defined as risks that are known and judged acceptable. Risk is the probability of an unwanted event occurring multiplied by its consequences. Engineers must design for safety by considering legal standards, alternative safer designs, and preventing misuse. Testing prototypes is important to thoroughly ensure a product's safety.
Ethics is the branch of philosophy that deals with questions about morality and values. It examines what actions are right or wrong and how we should decide which values to pursue. Ethics helps us resolve conflicts about values and determine the proper course of action for humans. It provides guidance for organizing our goals and acting successfully to accomplish our most important values. The study of ethics explores different types of values like intrinsic and extrinsic values, and considers how ethics relates to other domains like religions and science.
Unit II Engineering Ethics (GE8076 Professional Ethics in Engineering)Dr. SELVAGANESAN S
This document provides an overview of Engineering Ethics. It discusses:
- The definition and scope of Engineering Ethics, which is concerned with rules and standards guiding engineers professionally.
- Variety of moral issues engineers may face, such as those related to their organization, clients, competitors, laws/regulations, and society/environment.
- Three types of inquiries in Engineering Ethics: normative inquiries identify values guiding decisions; conceptual inquiries describe meanings; and factual inquiries establish facts.
- Key concepts like morality, professionalism, and the variety of bodies that establish codes of ethics for engineers.
1. The document discusses key concepts in engineering ethics including types of ethical inquiry, moral dilemmas, and moral autonomy. It outlines two approaches to engineering ethics: micro-ethics which focuses on everyday problems, and macro-ethics which addresses societal problems.
2. Moral issues in engineering are classified into three categories: resource crunch due to time/budget pressures, opportunities for double standards or prioritizing gains, and employee attitudes due to lack of recognition/promotion.
3. There are three types of ethical inquiry: normative inquiries which identify moral standards, conceptual inquiries which clarify ethical concepts, and factual inquiries which provide information relevant to ethical issues. Solving moral dilemmas involves identifying relevant
GE8076 -PROFESSIONAL ETHICS IN ENGINEERING UNIT NOTES
UNIT I HUMAN VALUES 10
Morals, values and Ethics – Integrity – Work ethic – Service learning – Civic virtue – Respect for others – Living peacefully – Caring – Sharing – Honesty – Courage – Valuing time – Cooperation –Commitment – Empathy – Self confidence – Character – Spirituality – Introduction to Yoga and meditation for professional excellence and stress management
A Presentation on Ethics and there Three Different type's also some information about Moral Psychology and Social Ethics.And Theories of Ethics and its Three Classes of Ethical Theories.
This document discusses several topics related to ethics, including self-interest, the role of religion in morality, classical ideals of life, psychological and ethical egoism, contractarianism, feminist ethics, and ethical relativism vs absolutism. It provides details on concepts like Aristotle's virtues, Epicureanism, stoicism, John Rawls' social contract theory, and contrasts descriptive and normative ethics.
This document provides an overview of professional practice and ethics. It defines ethics and discusses professional ethics in various fields like engineering, medicine, law, media, etc. Key points include:
- Professional ethics provide guiding principles for a given profession based on its duties and standards. Examples given are medical ethics like the Hippocratic Oath.
- Types of professional ethics discussed include those for engineers, doctors, lawyers, journalists and various codes of conduct. Core principles like honesty, integrity and public service are common across most.
- The difference between personal and professional ethics is explored, with professional ethics referring specifically to standards in one's occupational field.
- Maintaining high ethical standards is important for professions to
This document discusses moral autonomy and the relationship between consensus and controversy. It defines moral autonomy as the ability to think critically and independently about moral issues. It notes that while exercising moral autonomy, individuals may arrive at different conclusions on moral issues, leading to controversy. However, some consensus is still needed. Consensus provides a framework for learning and tolerance. The document gives examples of moral dilemmas where principles conflict and no clear consensus or solution exists. It argues that authority and autonomy can be compatible if there is consensus on the role of authority.
This document introduces several ethical theories: Kantianism focuses on treating people as ends rather than means; utilitarianism evaluates actions based on their consequences and maximizing happiness; social contract theory proposes that individuals implicitly consent to moral rules for the benefit of society; and virtue ethics emphasizes cultivating moral character through habitually doing right actions. The document provides examples applying these theories to scenarios around plagiarism, highway construction, computer viruses, marketing practices, and more.
The document discusses human values such as morals, ethics and integrity. It provides definitions and examples.
Some key points:
- Morals are guiding principles of right and wrong defined individually and socially. Ethics are standards of conduct in a profession.
- Values are individual concepts of responsibility, entitlement and respect shaped by experience. They guide choices and decisions.
- The story of the carpenter illustrates losing focus on values and quality of work when not considering the impact of one's actions.
- Religions share concepts like the Golden Rule of treating others as you want to be treated. An ethics course aims to teach being ethical.
These slides are from McKonly & Asbury's webinar entitled “Professional Ethics: The Three Monkeys in the Room” which took place on Thursday, May 14, 2015.
Ethics refers to accepted standards regarding personal and social welfare. It involves studying morality and distinguishing right from wrong. Morality consists of standards around what is good/evil and right/wrong, which are typically first learned from family/society as a child and revised with experience. Moral standards deal with issues that can seriously harm or benefit people, are not determined by authorities, should be preferred over self-interest, consider all perspectives impartially, and are associated with emotions like guilt. In summary, ethics examines morality and distinguishing right from wrong based on accepted standards around welfare, not personal feelings alone.
The document discusses business ethics and corporate social responsibility. It defines ethics as principles that outline appropriate moral behavior for individuals and organizations. Business ethics became more important in the 1980s as public criticism of corporate behavior rose. To restore trust, businesses need to punish wrongdoing, increase transparency, and hold people accountable beyond just legal compliance. Various factors like values, management, and the environment influence business ethics. The document also provides examples of ethical dilemmas and discusses approaches to improving ethics through codes of conduct and other measures.
The document discusses the importance of ethics and making ethical decisions. It provides an overview of key concepts like ethics, values, morals, foundational ethics and situational ethics. It also outlines various frameworks that can be used in ethical decision making, such as utilitarianism, deontology, and virtue ethics. The presentation emphasizes developing strong personal convictions, integrity, and using frameworks to thoughtfully evaluate ethical issues and choices.
The document outlines codes of ethics for both instructors and online students. For instructors, it states they should clearly explain objectives, policies, grading, and expectations. Instructors should also model good behavior, use samples, and create a welcoming environment. For students, the code of ethics says to respect others, discuss coursework, interact, be disciplined, organized, responsible, and properly present and cite work.
The document outlines a code of ethics for engineers that includes 7 canons. The code provides guidance on ethical conduct, public safety, competence, conflicts of interest, professional reputation, enhancing the profession, and lifelong learning. Engineers are expected to adhere to the highest ethical standards, act with integrity and zero tolerance for corruption, and use their skills to benefit society.
Ethics is the branch of philosophy that addresses concepts of morality like good and evil, right and wrong. There are several branches of ethics including meta-ethics, normative ethics, applied ethics, and descriptive ethics. Organizations often adopt ethical codes to provide guidance on handling ethical situations. These codes address issues like corporate social responsibility, employee conduct, and professional standards. Cultural norms also influence etiquette which outlines expectations for social behavior within a society or group.
3 big mistakes professionals make when presenting financial or operational da...Dave Paradi
Professionals often make three big mistakes when presenting financial or operational data to executives. The first mistake is including spreadsheets on slides instead of using effective visuals. Spreadsheets are for calculations, not communication. The second mistake is not having clear messages in the presentation. Presentations should be well-structured to take executives from the current situation to the desired outcome. The third mistake is thinking executives love numbers as much as the presenters. Presentations should focus on insights executives can use, not just data. To avoid these mistakes, presenters should use visuals instead of spreadsheets, structure presentations clearly around a main message, and focus on insights rather than numbers alone.
slides on understanding workplace ethics, what it affects, benefits of workplace ethics, slides on ethic codes, codes of conduct, values, ethic programs, required resources, two ethical styles, 3 steps to resolve ethical dilemmas and how to address ethical dilemmas, guidelines and slides on implementing ethic programs, detecting 6 key roles and responsibilities, guidelines for moral decision making, 10 common ethic code provisions, 15 slides on creating an effective code of conduct, and more.
1-INSURANCE COMPANY OPERATIONS
The most important insurance company operations consist of the following:
Ratemaking
Underwriting
Production
Claim settlement
Reinsurance
Insurers also engage in other operations, such as accounting, legal services, loss control, and information systems.
2-RATING AND RATEMAKING
Ratemaking refers to the pricing of insurance and the calculation of insurance premiums .
A rate is the price per unit of insurance.
An exposure unit is the unit of measurement used in insurance pricing, which varies by line of insurance.
The person who determines rates and premiums is known as an actuary . An actuary is a highly skilled mathematician who is involved in all phases of insurance company operations, including planning, pricing, and research.
3-UNDERWRITING
Underwriting refers to the process of selecting, classifying, and pricing applicants for insurance . The underwriter is the person who decides to accept or reject an application.
Statement of Underwriting Policy:Underwriting starts with a clear statement of underwriting policy.
An insurer must establish an underwriting policy that is consistent with company objectives.
4-PRODUCTION
The term production refers to the sales and marketing activities of insurers. Agents who sell insurance are frequently referred to as producers .
Life insurers have an agency or sales department. This department is responsible for recruiting and training new agents and for the supervision of general agents, branch office managers, and local agents.
Property and casualty insurers have marketing departments. To assist agents in the field, special agents may also be appointed.
A special agent is a highly specialized technician who provides local agents in the field with technical help and assistance with their marketing problems.
5-CLAIMS SETTLEMENT
Every insurance company has a claims division or department for adjusting claims. This section of the chapter examines the basic objectives in adjusting claims, the different types of claim adjustors, and the various steps in the claim-settlement process.
Basic Objectives in Claims Settlement:
Verification of a covered loss
Fair and prompt payment of claims
Personal assistance to the insured
6-REINSURANCE
Reinsurance is an arrangement by which the primary insurer that initially writes the insurance transfers to another insurer (called the reinsurer) part or all of the potential losses associated with such insurance .
The primary insurer that initially writes the insurance is called the ceding company .
The insurer that acceptspart or all of the insurance from the ceding com pany is called the reinsurer .
The amount of insurance retained by the ceding company for its own account is called the retention limit or net retention .
The amount of insurance ceded to the reinsurer is known as the cession
The document provides an overview of ethics and values as they relate to business practices. It discusses the company values of integrity, respect, compassion, and communication. It defines ethics as moral principles or values and discusses concepts like the Golden Rule. The document also addresses ethical dilemmas, challenges to ethics like greed and temptation, and why being ethical is important for businesses.
1. The document discusses ethics, social responsibility, and ethical dilemmas that entrepreneurs may face when running a business. It notes that while profit is important, society expects businesses to also consider ethics and their social impact.
2. Ethical dilemmas are complex with no clear answers and often involve weighing the needs of various stakeholders. The document provides a four-step process for addressing ethical dilemmas involving recognizing the ethical issues, identifying stakeholders, generating alternatives, and choosing the best response.
3. Ultimately individuals are responsible for ethical behavior, but leadership sets the tone. Moral management benefits a business by building a strong reputation while unethical actions can destroy trust.
The document summarizes key concepts in business ethics including:
- Utilitarianism holds that actions should maximize good for the greatest number of people. Panera Cares aligns somewhat with utilitarianism and Sidgwick's dualism.
- Deontological frameworks like Kant's ethics judge actions based on universal principles rather than consequences. Kant argued decisions should be rationally universalized.
- The Business Standards Codex outlines eight principles of ethical behavior for companies: fiduciary duty, property rights, reliability, transparency, dignity, fairness, citizenship, and responsiveness.
This document discusses ethical standards and decision-making in the child care industry. It states that the industry is bound by many laws, regulations, and codes of conduct. National Quality Framework Standards and the Early Years Learning Framework set best practice standards. Codes of Ethics outline obligations for workers regarding service users, colleagues, and the profession. When making decisions, workers should consider integrity, openness, honesty, accountability, and objectivity rather than personal interests. Ethical dilemmas may require balancing needs, and consulting with supervisors is important. Unethical conduct should be reported according to policy.
Business Ethics 6th Edition M.Jennings.
1) What is Ethics
2) Theories to resolve dilemmas
3) The types of ethical dilemmas
4) How we avoid ethical dilemmas
5) are you ethical enough?
Business ethics refer to standards of conduct governing how businesses and employees should behave. This involves balancing profitability with moral responsibilities to customers, employees, shareholders, and society. Unethical practices can harm stakeholders and damage a company's reputation. Common issues include conflicts of interest, dishonesty, privacy violations, and environmental/social impacts. Developing strong ethics codes, training, and leadership can help guide ethical decision-making and mitigate risks to businesses.
Business ethics refer to standards of conduct governing how businesses and employees should behave. This involves balancing profitability with moral responsibilities to customers, employees, shareholders, and society. Unethical practices can harm stakeholders and damage a company's reputation. Common issues include conflicts of interest, dishonesty, privacy violations, and environmental/social impacts. Developing strong ethics codes, training, and leadership can help guide ethical decision-making and mitigate risks to businesses.
Business ethics refer to standards of conduct governing how businesses and employees should behave. This involves balancing profitability with moral responsibilities to customers, employees, shareholders, and society. Unethical practices can harm stakeholders and damage a company's reputation. Common issues include conflicts of interest, dishonesty, privacy violations, and environmental/social impacts. Developing strong ethics codes, training, and leadership can help guide ethical decision-making and mitigate risks to businesses.
Business Ethics and corporate social responsibility.pptNidhiBhatnagar19
Business ethics refer to standards of conduct governing how businesses and employees should behave. This involves balancing profitability with moral responsibilities to customers, employees, shareholders, and society. Unethical practices can harm stakeholders and damage a company's reputation. Common issues include conflicts of interest, bribery, privacy violations, and dishonest hiring. Companies establish codes of ethics to guide decisions and provide ethical training to help resolve complex situations.
This document discusses various topics related to business ethics including definitions of ethics and values, ethical philosophies and dilemmas, ethical systems, personal and corporate ethical standards, and leadership styles. It provides examples of everyday concepts and values as well as an ethical dilemma case study about the Ford Pinto. The document aims to provide a framework for understanding and analyzing business ethics issues.
This document provides guidance on making ethical decisions in the workplace. It discusses key concepts like business ethics, codes of conduct, and types of ethical issues that may arise, such as harassment, fraud, theft, and whistleblowing. It recommends addressing the ethical concerns, determining who is affected, consulting others, and following steps to make ethical decisions, such as identifying the problem, listing relevant facts, considering alternative actions and their potential impacts, and determining a course of action that benefits stakeholders and respects rights. The overall message is that ethics and trustworthiness are important for businesses, and ethical decision-making considers all perspectives and seeks the greatest good.
The document discusses management's social responsibilities and ethical guidelines. It outlines that social responsibility means making choices that benefit society as well as the organization. Organizations have responsibilities to various stakeholders and should act legally, ethically, and contribute to the community. Ethical behavior is influenced by an individual's moral development level and organizations should establish clear ethical policies and codes of conduct.
This document discusses business ethics and ethical decision making. It defines ethics as dealing with moral principles of good and bad or right and wrong. Business ethics examines ethical issues that arise in business. The document outlines types of ethical decisions like harassment, fraud, theft, and whistleblowing. It also discusses frameworks for ethical decision making such as considering duties, outcomes, and how others would want to be treated. The document provides steps for making ethical decisions by identifying the issue, stakeholders, alternatives, and selecting a course of action that minimizes harm.
The document discusses several aspects of developing virtuousness and behaving ethically, including rationality, honesty, integrity, independence, productivity, justice, and forgiveness. It also outlines 10 benefits of managing ethics in the workplace such as improved society, avoiding legal issues, and strengthening organizational culture. Additionally, it provides examples of unethical behaviors like illegally copying software, treating people unfairly, and sexually harassing coworkers. The document emphasizes developing strong relationships, using corporate ethics programs, being environmentally conscious, and following professional codes of conduct to enhance ethical behavior.
This document discusses ethics and corporate governance. It provides an overview of ethics concepts like integrity, codes of conduct, and creating an ethical culture. It discusses the role of leadership and management in promoting ethics. Specific ethical issues in industries like construction and situations like the HP spying scandal are analyzed. The role of independence for accountants and situations that could impair independence are also summarized.
The document discusses the importance of ethics and integrity in leadership. It defines ethics as a system that guides proper conduct and values. It also discusses key ethics concepts like morality, values, integrity, character, and laws. The document presents an ethical decision making model and analyzes the famous Ford Pinto case as an example of an ethical dilemma around prioritizing profits over safety.
Ron Peyton argues that implementing high ethical standards in the investment industry is important and beneficial. He outlines principles-based ethics as more effective than rules-based, noting firms should develop ethical guidelines based on principles rather than rules. Peyton recommends regularly reminding professionals about ethics to encourage ethical behavior, and that culture plays a key role by promoting mission and values beyond just financial incentives. Firms should strive to act with integrity to build trust with clients and the public.
This document discusses good governance, corporate social responsibility, business ethics, and professional ethics. It begins by defining good governance and its basic characteristics. It then defines corporate social responsibility and explains that CSR activities are important for hiring and retaining employees. However, CSR can also be grounded by opposing objectives of maximizing profits versus social responsibility. The document also discusses business ethics through various case examples and explains how ethical behavior can add value to organizations by increasing trust, transparency, and attracting better employees. It emphasizes the importance of integrity in leadership.
This document discusses a case study involving a local council tendering bus body building work to three suppliers. Best Built scored highest on the evaluation criteria but the first order was awarded to the cheapest supplier, Axle-Up. Best Built challenged this decision. The document considers various probity and legal implications of the council's decision and potential outcomes of the dispute. It also discusses broader topics like what influences ethical behavior, the unpredictability of upholding integrity, and whether training can improve compliance.
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This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
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1. Every Day Ethics Craig Mitchell, Esq. Mitchell & Associates, APLC New Orleans, Louisiana www.mitchellaplc.com
2. Why Ethics Every Day? “The poor reputation of the insurance industry reinforces the need for unyielding dedication to integrity and ethics in insurance organizations. Those organizations that successfully build these traits into their corporate cultures are likely to be more successful than those that fail to do so. Ultimately, an industry-wide commitment of this type is probably the only way to overcome the poor reputation the industry faces.” Ethics Considerations for Property & Casualty Insurance Professionals
4. Ethics The etymological basis of the word “ethics” is the Greek word ethos, meaning habitual or customary conduct.
5. Ethics Defined A set of moral principles: a theory or system of moral values; The principles of conduct governing an individual or group; A guiding philosophy; A consciousness of moral importance.
6. Ethics: An Explanation Ethics are a personal set of values used by an individual to guide his or her actions. Ethics are not objective, but are subjective to the individual. Ethics are a continuing evolving code of conduct dependent upon circumstances and the life experiences of the individual.
7. “When I do good, I feel good; when I do bad, I feel bad. That’s my religion.” Abraham Lincoln
8. “Leadership is a potent combination of strategy and character. But if you must be without one, be without the strategy.” General H. Norman Schwarzkopf
9. “I consider ethics, as well as religion, as supplements to law in the government of man.” Thomas Jefferson
10. “Do unto others as you would have them do unto you.” The Golden Rule
11. Ethical Conundrums Is abortion wrong? When, if ever, is it proper to take another’s life? Is it wrong to steal to feed your children?
12. Socrates Believed people will do what’s good if they know what’s right and that evil or bad acts are due to ignorance.
13. Hedonist Follow the ethical premises that pleasure should be maximized and pain minimized.
14. Consequentialism Follows the idea that “the ends justify the means” meaning a morally right action is one that results in a good outcome.
15. Deontology Looks at the act itself and the end result does not matter, even if it is bad.
17. ORGANIZATIONAL ETHICS Code of Ethics – business or corporate ethics Code of Conduct – employee ethics Code of Practice – professional ethics
18. Why Organizational Ethics? Ethical codes are often developed by an entity to help provide direction between right and wrong within the context of that organization Ethical codes exist to guide all types of organizations, from those religious in nature to criminal enterprises.
19. Why Organizational Ethics? To define accepted/acceptable behaviors. To promote high standards of practice. To provide a benchmark for members to use for self evaluation. To establish a framework for professional behavior and responsibilities. As a vehicle for occupational identity. As a mark of occupational maturity.
20. The Code of Ethics Guidelines that govern the behavior of a company and its members. Often focuses on social issues – “Corporate Responsibility” Adopted to establish responsibility, integrity and credibility.
21. Goals of a Code of Ethics To protect and enhance an organization’s reputation by detailing expectation for behavior of its members when dealing with third parties. To protect the organization’s assets by setting clear expectations for behaviors that avoid conflicts of interest, questionable conduct, and illegal acts
22. A Word From the Wise If you lose dollars for the firm by bad decisions, I will be understanding. If you lose reputation for the firm, I will be ruthless.
23. The Code of Conduct Designed to influence the behavior of employees Defines the platform of the acceptable set of employee behavior. The main objective is to further promote a higher standard of practice within the organization Is often binding
24. The Code of Practice Codes of Professional Responsibility Adopted by a profession or by a governmental or non-governmental organization to regulate that profession
26. Cannons of the AICPCU Code of Professional Ethics Canon 1 – CPCUs should endeavor at all times to place the public interest above there own. Canon 2 – CPCUs should seek continually to maintain and improve their professional knowledge, skills, and competence.
27. Canon 3 – CPCUs should obey all laws and regulations, and should avoid any conduct or activity which would cause harm to others. Canon 4 – CPCUs should be diligent in the performance of their occupational duties and should continually strive to improve the functioning of the insurance mechanism.
28. Canon 5 – CPCUs should assist in maintaining and raising professional standards in the insurance business. Canon 6 – CPCUs should strive to establish and maintain dignified and honorable relationships with those they serve, with fellow insurance practitioners, and with members of other professions.
29. Canon 7 – CPCUs should assist in improving the public understanding of insurance and risk management Canon 8 CPCUs should honor the integrity of the CPCU designation and respect the limitations placed on its use.
30. CPCUs should assist in maintaining the integrity of the Code of Professional Ethics.
31. ETHICS DISCUSSIONS Define the issue Identify the alternatives Evaluate the alternatives Determine who makes the decision Implement the decision Ethics Considerations for Property & Casualty Insurance Professionals
32. Ethics Discussions Scenario 1 - Sue Who? You’ve worked at Acme Agency for 13 years with no complaints from management. A more recent hire, Charlie, has been promoted ahead of you although you’re more qualified. One day Charlie comments that he feels discriminated against and is going to sue Acme. You let it go, but over the next few months you overhear him making the same comments to other co-workers. One time you even hear him on the phone telling someone he needs a lawyer to sue Acme. What do you do?
33. Ethics Discussions Scenario 2 – Copy Time Acme Insurance Brokerage subscribes to a number of insurance industry newsletters. When a newsletter arrives the receptionist makes 100 copies. Each Acme account executive gets a copy to read and a copy is sent to each of Acme’s clients. Management thinks this is an invaluable service to Acme’s clients. Ethical? Ethics Considerations for Property & Casualty Insurance Professionals
34. Ethics Discussions Scenario 3 - Gratuities A customer has a yacht that your company will be discharging. The customer is present and watching the off-loading operation. The five stevedores you manage pull off a tricky maneuver transferring the yacht to the trailer. The customer is pleased and reaches into his pocket, pulling out a big wad of $20 bills as if to tip them. What if anything do you do?
35. Ethics Discussions Scenario 4 - Receiving a Holiday Gift A supplier sends a basket of expensive wine and cheese to your home at Christmas with a card: "We hope you and your family enjoy the goodies.” What action(s) might you want to take?
36. Ethics Discussions Scenario 5 - Sales Expense The purchasing manager for a large company agrees to give you an order (their first), expecting you agree to make a $200 donation to his favorite charity, a local youth sports team. How do you respond?
37. Ethics Discussions Scenario 6 – To Jail or not to Jail Six physicians are discovered by the IRS to have understated their taxable income. As legal advisers to the IRS Jerry and Paul agree that all six must pay back taxes and penalties but disagree about criminal prosecution. (cont.)
38. Ethics Discussions Scenario 6 (continued) Paul believes that only two of the doctors should be charged because the community cannot afford to lose any more than four doctors. Jerry believes that this is irrelevant and that they all should be prosecuted based on the evidence. Who is right?
39. Ethics Discussions Scenario 7 – Jaywalking While vacationing in a small, sleepy, quiet coastal town in Maine, you take your dog for an early walk on a Sunday morning. You come to an intersection with a stop light. Looking carefully in all directions you don’t see any cars. You notice a sign next to the stoplight that says: “JAYWALKING FORBIDDEN --violators subject to fine.”You look up and see that the stop light has turned red. Would it be wrong of you to cross the street against the stoplight?
40. Ethics Discussions Scenario 8 -- References A large, prospective client calls you and asks about a competitor's reputation. One of your long time customers had a very bad experience with this competitor. How do you respond to the prospect call?
41. Ethics Discussions Scenario 9 – For the Children You run an orphanage and have had a hard time making ends meet. A car dealership offers you a new van worth $15,000 for free if you will falsely report to the government that the dealership donated a van worth $30,000. You really need the van and it will give you an opportunity to make the children happy. Do you agree to take the van?
42. Ethics Discussions Scenario 10 – Pig Rights Would it be justifiable to whip pigs to death if more succulent pork resulted from this process, giving the consumers of pork more pleasure?
BackgroundLook around and see if there is someone just like you – same job, gender, education, religion, experiences growing up, success and failures.Lawyernot a philosopher. The notion of ethics is sometimes hard to grasp and what I think is ethical or unethical might not be ethical or unethical to you.
Bad Ethics leads to a bad reputation which leads to bad business.Same with lawyersImportance – people like to do business with trustworthy people
How are we going to get through this sessions:Background - conceptsCode of Ethics, Code of Conduct Code of PracticeGroup Participation – helps to have people offer their views to illustrate no one view is correct
Often used synonymously with moral or morality along with words such as “integrity” and “principle” “honor”
An important distinction exists between law and ethics. Obeying the law is the minimum level of ethical conduct enforced in society; ethical behavior includes more than simply legal behavior.Actions that are completely legal may be considered unethical. EXAMPLE: predatory lending – offering credit to people who may not be credit worthy and under terms that will probably make that person default. Legal, but ethical.
This is just one definition of ethics, and its not necessarily the right view. The debate on what is ethical behavior goes back to ancient times, with heavy weights like Socrates, Aristotle, Plato, Epicurus, Immanuel Kant and even Albert Einstein all having views on the meaning of ethicsMany people throughout history have talked about the importance of ethical behavior
Honest Abe
One of the great military strategist of our time saying throw strategy out over character
One of our nations founder’s – law is not enough
Almost universally recognized concept - Also called the ethic of reciprocityEthics keep you out of trouble, professionally and legally (audit, investigations)
Our individual life experiences and philosophies dictate what we think is ethical behavior which presents gray areas. There are no right answers. Several ethical philosophies have arisen to address ethical conundrums.Catholic – lawyer -- father
Obeying the speed limit – its posted, so you’ll abide by itWould the country be better if everyone knew every law? Probably not
Obeying the speed limit – if breaking it means you get where you want to do what you want faster, who cares. If I like to feel the wind rushing through my hair at 100mph then nothing should stop me.Would we all have happier lives if everyone did what they wanted to do? What if your pleasure causes me harm? OK under this view.
Obeying the speed limit – if I have to get my pregnant wife to the hospital b/c the baby is coming I can go ahead and run a few stop signs and speed.Would our country be better off if we decided euthanize victims of communicable diseases to halt the spread?
Obeying the speed limit – the speed limit must be followed, even if you have to get an injured person to the hospital and there are no other cars on the roadHow would your life be different if you made every decision about how to act regardless of the outcome?So what are ethical qualities? (flip)
Responsibility – make good on promises and commitmentsIntegrity – do what is right; never mind the consequencesCourage – make the right decision even if unpopularRespect – treat people fairly and consistentlyRICHERContext established, move to Organizational Ethics but discuss ethic codes in general
Organizational ethics as opposed to personal ethics can be broken down to three types (read)
Ethical codes range from the Ten Commandments which guide Christians in their daily lives to the codes followed by pirates. Gangs and criminal enterprises follow some sort of code – don’t snnitchExamples: the Precepts followed by Buddhists, the Hippocratic Oath which guides those who practice medicine and Bushido, the Japanese code of conduct and way of the Samurai.What we’re looking for is something higher than what the codified law provides.
It makes you think deeper than the bottom line plus establishment and compliance will likely help increase the bottom line.
It’s a tool for establishing a uniform set of rules and standards for a members of a group to followEthics codes provide written guidelines to follow when making tough business decisions
How important are organizational ethics?
Warren Buffet
Examples – identification of conflicts of interest, workplace attire, internet usage, acceptance or provision of gift, political or civic activities, handling confidential information, outside activities or employment, media inquiries
Rules of Professional Conduct published by Louisiana Attorney Disciplinary Board
American Institute for Chartered Property Casualty Underwriters -- agree to abide by a specific code of ethics-- 9 Canons (principles) with rules on how the cannon is to applyCPCU Society is optional, has it own Code of Ethics-- stresses ethics through The CPCU Creed and the CPCU Society Ethics Code
Legal, personal, company policy?
Take the co worker aside and say stop the comments?Go to your manager?Keep it to yourself?A – may just be blowing off steamB – May cause alienation from co-workersC - ?
Company policyAlienate workers/
First question – what’s the company policy?Alternatives?Who makes the call?
Again, what’s the company policy? Alternatives? Disclosure? This one is interesting because it’s a charitable contribution as opposed to a straight up bribe. Do you start down the slippery/slope? What if the next donation is to his brother’s fledgling start-up? Buying insurance from his wife?
If all six go to jail the greater community is harmed by lack of medical services. Wouldn’t prosecuting two be a wake up call to the others?
Legal issue. Alternatives? Show of hands on jay-walking. Does the intent of the law matter – trying to protect pedestrians from oncoming traffic and vice versa. Is it a crime if no one sees?
What information do you share with the prospect? Bring up the what goes around comes around rule and how I deal with reference requests.
Consequentialist says no problem; Deontologist says no way