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Intermediate Ethics by Joseph Donovan, ChFC, CLU

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Syllabus
Course Information
Course title: "Ethics in the Insurance Industry" - Intermediate Continuing Education
Course number: OLT # INSCE004     DOI # CE9908     Course ID # 53604
Course description: 3 Hrs. OnLine CE course designed to meet State Continuing Education requirements.

No classroom attendance required. The 3 hours of credit is earned in the virtual classroom. This intermediate level Ethics course is acceptable for all licensed agents and adjusters. The course presents an explanation of Insurance Fraud, Regulatory Ethical Standards, Regulatory Standards of practice, Professional Standards and Practices.
Meeting day(s): 7 days/week
Meeting time(s): 24 hours/day
Prerequisite(s): You must be a licensed Insurance agent.
Course Goals
Course Goals: The primary goals of this course include all of the following:
  • To develop high ethical standards of conduct among insurance practitioners, that can result in meeting and exceeding the minimum ethical standards required by the state's insurance regulations.
  • To meet the fiduciary responsibilities through vigilant compliance to insurance laws and regulations.
  • To acquire an indepth knowledge of the insurance regulations especially in the areas pertaining to the conduct of insurance practitioners.
  • To commit to a high level of integrity and ethics in our relationships with Insureds, Insurers, other insurance practitioners and vendors.
  • Lastly to embody the attributes of ethical conduct learn in this course in order to overcome the challenges inherent in the altruistic nature of an insurance profession.
Course Outcomes
Course Outcomes: The student will pass each quarter exam with a score of 70% or better and after passing the fourth quarter exam, will receive his/her Certificate of Completion for the 3 hours of Ethics required by the Department of Financial Services from the college with whom he/she is registered. The colleges notifies the Department of Financial Services.
Course Outline
It is important to note that not all pages are standard 8x11 pages.

A page is the length required to express an idea or subtopic.

Therefore, some pages may consist of only a few sentences.
Syllabus Minutes Module
Unit One - Definitions of Terms 20 A
I. Insurer Terms   A/2-A/4
II. Licensee Terms   A/5-A/8
III. Terms on Ethics   A/9-A/10
Unit Two - Insurance Fraud 25 B
I. Need for Ethics   B/1
II. General fraud trends   B/2
III. Common types of Insurance fraud   B/3-B/5
IV. Fraud Indications (Red Flags)   B/6
V. Soft Fraud:
  1. Misclassifications
  2. Inflated loss estimates
   B/7-B/11
VI. Misclassifications (Red Flags)
  1. Automobile Insurance
  2. Property Insurance
  3. Health Insruance
   B/12
FIRST QUARTER EXAM - for grade 15  
Unit Three - Regulatory Ethical Standards 30 C
I. Purpose   C/1
II. Policyholders Bill of Rights

Appendix: 626.9641		   C/2

Appendix 2
III. Licensee Code of Ethics
  1. Adjuster Code of Ethics
  2. Life Agent Code of Ethics
   C/3
IV. Consumer Protection
  1. Competency
  2. Trustworthiness
  3. Apendix: 626.025
   C/4

Appendix 3
V. Reporting Requirements (DFS)   C/5
VI. Reporting & accounting for funds   C/6
SECOND QUARTER EXAM - for grade 15  
Unit Four - Regulatory Standards of Practice 30 D
I. Purpose   D/1
II. Unfair Trade Practices:
  1. False & misleading Ads
  2. Prohibited general practices
  3. Prohibited sales practices
  4. Penalty for Violation
   D/2

D/3
III. Unauthorized Entities:
  1. Definitions
  2. Penalty for representing
   D/4

D/5
IV. Grounds for License Suspension
  1. Compulsory grounds
  2. Appendix: 626.611
  3. Discretionary grounds
   D/6

D/7

Appendix 8

D/8
THIRD QUARTER EXAM - for grade 15  
Unit Five - Professional Ethical Standards & Practices 15 E
I. Introduction   E/1
II. American College Code of Ethics
  1. Pledge
  2. Canons
   E/2

E/3
III. Professional Ethical Practices
  1. Altruism
  2. Utmost Good Faith
  3. Strict Compliance
  4. Competence
  5. Cognitive Knowledge
  6. Full Disclosure
  7. Suitability
  8. Due Diligence
   E/4

E/5

E/6

E/7
IV. Professional Conduct
  1. Definition
  2. Spirit of Altruism
  3. Minimum standards
  4. Qualifications
  5. Bound by a Code of Ethics
   E/8
V. Summary   E/9
FOURTH QUARTER EXAM - for grade 15  
COURSE TOTALS 3 hours  
Instructor Information
Name: Joseph Donovan
Email: donovan@oltraining.com
Office location: 2669 Forest Hill Blvd Ste. 207, WPB, FL 33406
Office hours: Call for an Appointment
Phone: (561) 283-0333 or toll free 866-357-0841
Biography: Joseph Donovan, ChFC, CLU has been in the insurance industry for the last twenty years and has been an insurance instructor for the last eighteen. He holds a Master of Science degree in Financial Services (MSFS) from the American College in Bryn Mawr, PA. Besides being an insurance CE course provider and instructor he is currently an adjunct professor for Palm Beach Community College in Florida.

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Last Updated: September 30th, 2009 by Maria Torres-Arbona