ETHICS 311: ETHICAL DECISION MAKING IN RISK AND
INSURANCE newest actual 2025/2026 EXAM WITH complete
questions and answers/verified/graded a+/
Social Responsibility
Expectations that compel organizations to focus on goals and
objectives on long term survival and sustained growth
Economic Outcomes
Better reputations - better recruiting and skilled employees
Ethical Responsibility to Groups
1. Insurers
2. Policyholders
3. The Public
, Insurers
Provide customers with protection from financial loss by
managing risk exposures
2 ways insurers have direct contact with public
1. Purchase of insurance coverage initiates responsibility to
the policyholders
2. Policy language creates contractual obligations that are
fulfilled when a loss event occurs and results in a claim
Policyholders
-Parties to the insurance contract, giving them specific rights
and duties
-Consumers of the insurance product, paying premiums when
acquiring coverage
-Beneficiaries when payments are made to them under the
first party coverage of the insurance contract
-Protected through liability insurance contracts when they
become legally liable for a 3rd party claimant
INSURANCE newest actual 2025/2026 EXAM WITH complete
questions and answers/verified/graded a+/
Social Responsibility
Expectations that compel organizations to focus on goals and
objectives on long term survival and sustained growth
Economic Outcomes
Better reputations - better recruiting and skilled employees
Ethical Responsibility to Groups
1. Insurers
2. Policyholders
3. The Public
, Insurers
Provide customers with protection from financial loss by
managing risk exposures
2 ways insurers have direct contact with public
1. Purchase of insurance coverage initiates responsibility to
the policyholders
2. Policy language creates contractual obligations that are
fulfilled when a loss event occurs and results in a claim
Policyholders
-Parties to the insurance contract, giving them specific rights
and duties
-Consumers of the insurance product, paying premiums when
acquiring coverage
-Beneficiaries when payments are made to them under the
first party coverage of the insurance contract
-Protected through liability insurance contracts when they
become legally liable for a 3rd party claimant
