Harold is a commercial lines underwriting manager with Insurance Company (IC). Selina, a top-notch member of...
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Harold is a commercial lines underwriting manager with Insurance Company (IC). Selina, a top-notch member of Harold's underwriting unit, is married to Martin, an insurance producer at a brokerage with which IC has an agency agreement. During an underwriting audit, IC's head office audit team noticed that Selina had been consistently underpricing accounts for the brokerage at which Martin works. The underpricing has not hurt either the brokerage's or IC's loss ratio. The audit team brings the matter to Harold's attention and asks that he resolve it as he sees fit. This presents an ethical dilemma for Harold. He is concerned about the apparent favoritism Selina is showing, but he feels she is a skilled underwriter and so far the loss ratios have not suffered. Which best identifies one of the principal stakeholders or group of stakeholders in this dilemma? Harold is a commercial lines underwriting manager with Insurance Company (IC). Selina, a top-notch member of Harold's underwriting unit, is married to Martin, an insurance producer at a brokerage with which IC has an agency agreement. During an underwriting audit, IC's head office audit team noticed that Selina had been consistently underpricing accounts for the brokerage at which Martin works. The underpricing has not hurt either the brokerage's or IC's loss ratio. The audit team brings the matter to Harold's attention and asks that he resolve it as he sees fit. This presents an ethical dilemma for Harold. He is concerned about the apparent favoritism Selina is showing, but he feels she is a skilled underwriter and so far the loss ratios have not suffered. Which best identifies one of the principal stakeholders or group of stakeholders in this dilemma?
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One of the principal stakeholders in this ethical dilemma is the Insurance Compa... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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