What are the implications of philosophy and ethics?Select one:a.Insurance policyb.Avoid penal actionc.Helps in quality management, strategic planning diversity managementd.All of these

Question One In a business like insurance, where promises other than physical products are sold or made, ethics is vital. Despite this, the insurance industry globally still grapples with the conduct of some of its market players. a) Examine in detail the unethical behaviors that are still common in the insurance industry globally and locally. b) Propose ways of improving professionalism and ethical conduct in detail within the industry.

Which of the following is an example of how the underlying insurance-industry business model is deemed ethical?Question 23Select one:a.Prescription drugs are priced per market.b.It enables health care accessibility.c.Laws permit premiums to be set on incident.d.Climate change created an insurance predicament.

Which of the following responses to an ethical dilemma is an example of the virtues-based approach? Assessing the problem in terms of duties to the persons affected by the decisionConsidering an outcome which brings the greatest benefit or the least harmApplying fundamental principles such as honesty, integrity and fairnessReflecting on what a well-respected figure in one’s life would do

Moral hazard is an important concern of insurance arrangements because the existence ofinsuranceA) provides increased incentives for risk taking.B) is a hindrance to efficient risk taking.C) causes the private cost of the insured activity to increase.D) creates an adverse selection problem but no moral hazard problem

Ethics refers to:Question 2Answera.Organisational principles that are communicated to key stakeholders particularly around behavioural normsb.Practices to guide professional training, behaviour, and communicationc.Principles of right and wrong that guide decision making when we are faced with conflicting responsibilityd.Generally accepted behaviours that are encouraged when employees join an organisationClear my choice