What practice does the CPCU Code advocate for handling competitor information?

The CPCU Code advocates that members must not misuse proprietary information obtained about competitors. This principle underscores the importance of ethical practices in maintaining the integrity and trust of the insurance profession. It is vital for professionals to respect the confidentiality of the information that is acquired regarding competitors, as misusing this information can lead to breaches of ethics and trust, as well as legal consequences.

Maintaining this ethical boundary ensures that competition remains fair and that entities operate within the bounds of legal and moral guidelines. This approach helps to foster a professional environment where companies can innovate and compete based on their merits, rather than engaging in unscrupulous practices that undermine the trust within the industry. Engaging with competitor information responsibly aligns with the CPCU's core values of professionalism and ethical conduct.