Welcome
A message from John Degnan, Vice Chairman, Chief Administrative Officer and Chief Ethics Officer, The Chubb Corporation:
Welcome to the first edition of Compliance & Ethics Update from Chubb, a newsletter that we plan to publish several times a year for our agents and brokers. The purpose of this publication is to share with you interesting insights, articles, and links to helpful resources on issues of compliance and ethics in our industry and in the business world at large.
Why launch a compliance and ethics newsletter? At Chubb we feel that a commitment to ethical business practices and compliance with the law is fundamental to our success. As Chubb's partners in providing insurance products and services, our producers play a key role in that success. In these challenging times, we think sharing the latest ideas in the compliance and ethics arena makes good sense, and can assist our producers in keeping up with evolving trends to ensure that we both retain the hard-earned trust of our joint customers.
We hope you find this newsletter useful and encourage you to share it with members of your staff, or your clients, as you see fit.
Featured Article
-
Dr. David P. Schmidt is Associate Professor of Business Ethics and Chair of the Management Department in the Dolan School of Business at Fairfield University. Dr. Schmidt is a member of the editorial advisory board of the Interdisciplinary Journal of Business Ethics. read full bio
Ethics Above the Bottom Line
by Dr. David Schmidt
Businesses across America are closely reviewing and enhancing their ethics programs, in large measure, because of the disturbing wave of recent corporate scandals. And yet, some companies may overlook questions of morality in their quest to stomp out corporate corruption. As one executive proudly told me, "We have a highly ethical company — nobody here has been arrested in the last year!"
In the next issue: How the Kew Gardens Principles guide us above the ethics bottom line.
Points of Interest
- Why Measure Ethical Effectiveness* from the Ethics Resource Center
- Rules Regs and Bulletins Mar 5 Issue from Insurance Compliance Insight
Links to recent news items, articles, and other resources related to compliance and ethics:
* Copyright © 2006, Ethics Resource Center. Used with Permission of the Ethics Resource Center, 1747 Pennsylvania Avenue NW, Suite 400, Washington DC 20006, www.ethics.org.
Ethical Considerations — What Do You Think?
-
In each edition we will present a brief ethical scenario to help highlight the issues and concerns in making ethically sound decisions in our increasingly complex world.
"To Quote or Not To Quote"
Bob, principal and owner of The Elmwood Agency, is approached by his neighbor Jane. Jane is the CFO of an emerging technology company specializing in nanotechnology. Bob has built his business and reputation in the marketplace by specializing in finding solutions for his affluent clients' personal insurance needs. Last year, Bob worked with Jane in placing coverage for her houses, auto, valuable articles, fine arts, etc. In doing so, he proficiently addressed gaps in her coverage and structured a personal insurance program that matched her lifestyle needs at an affordable price.
Jane, pleased with her experience and trusting Bob to be a good "insurance guy," approaches him to structure a comprehensive P&C program for her business.
Copyright © 2007 The Chubb
Corporation. All rights reserved.