PROFESSIONALISM 19
1 That is what we are now advertising – professionalism in insurance – and most brokers will say of themselves that they are professionals. Holding oneself out to be a professional, in whatever form, will bring with it the force of law such that they will be judged as a professional when things go wrong.
2 If an insurance policy is an essential economic instrument that is relied upon by the insured then it is reasonable to expect that someone engaged to procure an insurance to meet the demands and needs (as required by ICOBS) is acting in a professional capacity.
3 The FSA’s regulations, the common law duty of care and the insurance community’s aspirations for professional- ism will all combine to create a comparison with the standards of other professions, in particular solicitors and accountants, who sell their expertise by the hour, take no commissions and have to be qualifi ed by examination before they can advise. The insurance community is not yet in that
position but it is being judged as though it is so.
It is not enough to tell insurance people that they ought to be qualifi ed and ought to be “professional, ethical and honest”.
That is the minimum that you would expect. What is required is a standard of practice that is so obviously evident to the buyer of insurance that they come to the conclusion that the insurance practitioner, whether insurer or broker, is a professional.
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Committed to principled insurance
Committed to working in the interests of charities, churches and connected organisations
Committed to a clearly defined ethical trading and investment policy
Committed to providing the right insurance cover through our CONNECT range of policies
If you have clients or business opportunities in the church, charity or connected lifestyle markets, talk it over with Ansvar
Ansvar Insurance Company Limited, Ansvar House, St. Leonards Road Eastbourne, East Sussex, BN21 3UR Tel. 0845 60 20 999 or 01323 737541 Fax. 01323 744284 Email:
ansvar.insurance@
ansvar.co.uk
Authorised and Regulated by the Financial Services Authority. Registered number 202019
www.ansvar.co.uk July/August 2010 Insurance Brokers’ Monthly
PROFESSIONALISM
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