Chubb Offers Ethics Training to Agents
WARREN, NJ, March 14, 2007 - The Chubb Group of Insurance Companies has developed an ethics training program for its independent agents and brokers.
The program consists of a half-day ethics workshop and a quarterly newsletter.
"Integrity and ethical business practices are fundamental to Chubb's success," said John J. Degnan, Chubb's vice chairman,
chief administrative officer and chief ethics officer. "To retain the hard-earned trust of our mutual customers, it's important
that we help our distribution force keep abreast of the latest best practices in this area."
Taught by David Schmidt, associate professor of business ethics at Fairfield University's Dolan School of Business, the Chubb
Business Ethics Workshop provides participants with an ethical decision framework they can apply to difficult business situations
and heightens their awareness of potential ethics issues through case studies. The insurance departments of 38 states have
approved the workshop for continuing education credits.
Last year, more than 500 agents and brokers participated in the workshop in 13 major U.S. cities. The workshop is scheduled
to be held in 19 other cities in 2007.
Participant feedback has been overwhelmingly positive.
"This was the best ethics class I have ever been to. It should be mandatory for every agency producer and owner," an agent
from New Haven, CT, wrote on an evaluation form.
"The vignettes were very realistic and appropriate to this industry and serve as good examples to use in everyday work," noted
a Boston agent.
To help reinforce the workshop's teachings, Chubb has created an ethics and compliance newsletter. The quarterly online publication,
which will be distributed to 30,000 agents at 5,000 U.S. agencies, will include articles by Schmidt and others, links to recent
insurance regulations and news items, and discussions of hypothetical ethical dilemmas.
To view the first edition of "Chubb's Ethics and Compliance Newsletter," click here.
The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property
and casualty insurance for personal and commercial customers worldwide through 8,000 independent agents and brokers. Chubb's
global network includes branches and affiliates in North America, Europe, Latin America, Asia and Australia.
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