What is the best practice for dealing with ethical dilemmas according to the CPCU Code?

The best practice for dealing with ethical dilemmas according to the CPCU Code emphasizes the importance of consultation and collaboration. When faced with an ethical dilemma, it is crucial to consult with peers, managers, or legal counsel to gain insights and diverse perspectives. This collaborative approach can help clarify the ethical implications of the situation, ensure compliance with industry standards, and uphold the integrity of the profession.

Seeking advice from others who may have experience or expertise in ethical decision-making allows for a more thorough consideration of potential consequences and alternatives. It fosters an environment of shared responsibility and transparency, which aligns with the core values of professionalism and ethical conduct outlined in the CPCU Code.

Making a decision solely based on personal judgment can lead to biases and a narrow perspective that may overlook important aspects of the dilemma. Ignoring the dilemma not only fails to address the issue but also risks potential harm to individuals, the organization, and the industry. Focusing solely on the potential benefits to the company can compromise ethical standards and lead to decisions that prioritize profit over ethical considerations. Therefore, consulting with trusted individuals is the best practice to ensure that decisions made are ethically sound and aligned with the values of the profession.