Code of ethics
The Insurance Institute’s Code of Ethics is applicable to all elected Fellow Chartered Insurance Professionals (FCIPs), Chartered Insurance Professionals (CIPs), and Honorary Chartered Insurance Professionals (HCIPs), including all members eligible for election.
The Board of Governors of the Insurance Institute has approved procedures, as detailed in the Institute’s By-Laws, which will ensure that the Code will be respected and that transgressors will be dealt with in a fair and unbiased manner.
The code
Institute graduates shall, in exercising their professional responsibilities, and in all professional matters, subordinate personal interests to those of the public, the client or employer or the Institute and profession as the case may be.
Institute graduates shall not violate any law or regulation duly enacted by any governmental body whose authority has been established by law, and no Institute graduates shall knowingly lend themselves, their names or their services to any unlawful act of their employer or client.
Institute graduates shall not willfully misrepresent or conceal material fact in insurance and risk management business dealings in violation of any duty or obligation.
Institute graduates shall not sign or associate themselves with any letter, report, statement or representation, which they know is false or misleading, or which is prepared in a manner, which might tend to be misleading or to misrepresent the actual situation.
Institute graduates shall treat as confidential any information, documents, or papers relating to the business affairs of their employer or client and shall not disclose or produce such information, documents or papers, without the consent of the employer or client concerned, except as required to do so by law.
Institute graduates shall use due diligence to ascertain the needs of their client or principal and shall not undertake any assignment if it is apparent that it cannot be performed by them in a proper and professional manner.
Institute graduates shall not fail to use their full knowledge and ability to perform their duties to their client or principal.
In all dealings graduates shall conduct themselves with dignity and shall avoid conduct, which would discredit the profession of insurance or the Institute.