The Ethics of Insurance Professionals: Comparison of Personal and Professional Ethics

This paper considers the level of ethics for insurance professionals for professional situations (measured with three insurance scenarios) compared to personal (consumer) situations (measured by Muncy and Vitell's 1992 Consumer Ethics Scale). The results of the study illustrate that there are significant differences in the ethical behavior of insurance professionals in professional versus personal situations. The authors found that insurance professionals are more likely to actively engage in unethical behavior in order to benefit professionally than in a personal setting. In general, however, the average respondent was "unlikely" or "extremely unlikely" to engage in unethical conduct. The managerial implications and need for future research in this area are discussed.