Insurance Ethics Continuing Education

Written by Helen Glenn Court
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In some respects the importance of insurance ethics continuing education speaks very much for itself, but repeating the emphasis on the word ethics does no harm. Ethics equate to trust. And the entire insurance industry rests, in fact, on trust. Several stories make this clear enough, as does the requirement that at least two of every 15 credits toward license renewal must be in insurance ethics continuing education.

The Value of Insurance Ethics Continuing Education

The insurance industry arose from the ashes of the second great fire of London in 1666. Its goal was and is to protect both people and organizations against both minor and devastating loss. But an insurance policy is no more than a promise on paper to do this. Public perception of how much these promises can be trusted matters, because if a person doesn't trust an insurer, he or she won't buy. They'll go elsewhere for a policy. The emphasis on insurance ethics continuing education are proof that certain subjects bear reminders.

Remember the movie It's a Wonderful Life from the 1940s with Jimmy Stewart playing George Bailey? It makes the point of trust in insurance very well indeed. Uncle Billy had taken $8,000 to the bank for deposit but en route lost the envelope. George Bailey offers his $15,000 life insurance policy to elderly Mr. Potter--the town's grasping and wealthy real estate mogul--as security for a loan so that he can cover the loss. Cash value of the policy, he admits, is only $500.

Mr. Potter laughs, observing that George is worth more dead than alive. The troublesome issue--which movie watchers realize but George does not--is that Mr. Potter has the envelope containing the lost $8,000, and knows exactly what it is. He needs George Bailey's family firm out of the picture so that he can control real estate development on the edge of town.

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