Institute for Insurance Ethics

Mission and Purpose

The mission of the Institute for Insurance Ethics is to develop programs that will educate members of the insurance and financial services industry, as well as the consuming public about the nature of ethics, social responsibility, and the application of high ethical standards.

A primary purpose of the Institute will be to consider the role of ethics as an alternative to additional regulation of the insurance and financial services industry. Unlike many other businesses, insurance is based on mutual trust between insurance producers and insurance clients. Trust, in turn, is based on the highest ethical standards.

Current Activities of the Institute

• Supporting research on ethical issues in property-casualty insurance
• Sponsoring the development of several ethical case studies for classroom use and beyond
• Working with CPCU groups to develop ethics modules for high schools
• Researching issues in ethics and financial services

Vision of the Future

The Institute for Insurance Ethics will be a highly visible advocate for ethics and ethical behavior in the life insurance and financial services industry. It will be a strong, clear voice for ethical conduct and social responsibility within the insurance industry.The leadership shown by the institute will create ever-growing awareness of ethical issues among insurance and financial services professionals.

Through its growing leadership and influence, insurance professionals will gain more and more formal training in ethics and in dealing with ethical situations that they confront. Through that training and awareness, consumers will continue to gain trust and confidence in insurance professionals and in the insurance industry. The Institute for Insurance Ethics was created in 1997 as a result of a private grant of $300,000.

The grant was facilitated by the Illinois Department of Insurance.

For more information:

James R. Jones, Director
Katie School of Insurance and Financial Services
432 College of Business
Illinois State University
Normal, IL 61790-5490

Telephone: (309) 438-3021
Facsimile: (309) 438-7753
Email: jrjone2@ilstu.edu