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Ethics In The Insurance Industry

Author

Listed:
  • Gavriletea Marius

    (Babes Bolya University, Cluj-Napoca)

Abstract

The present paper debates the main aspects related to ethics, into an industry that recorded exponential growth in Romania insurance field. A very important role for a good business is enhanced by the ethics. The specialists appreciate that ethics represent a key factor for business success. Obviously, the insurance field into a competition market must follow all the aspects related to ethics. The ethics should be an essential element of every insurance company management. If we talk about ethics in insurance we must mention all the generated relations between the insurance company and persons/companies/ organizations that it comes into contact. We also will analyze how the distribution channels follow the ethics principles. The principles that should guide the activity of an insurance agent in the moment he presents an insurance policy are honesty, respect towards other persons or property. Even if these principles seem to be just a theory, the usage of them in the daily activity represents premise of business success. The insurance companies that will use practically the ethics principles will have important benefits in the future, regarding their cota shre in the insurance field, but also towards theirs perception for society.

Suggested Citation

  • Gavriletea Marius, 2008. "Ethics In The Insurance Industry," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 10(23), pages 194-199, February.
    • Handle: RePEc:aes:amfeco:v:10:y:2008:i:23:p:194-199
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    Cited by:

    1. Melinda Plescan & Marius Gavriletea, 2008. "Managing Knowledge In Insurance Companies," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(10), pages 1-44.

    More about this item

    Keywords

    ethics; insurance; profesionalism; competition; insurance agent;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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