Business Ethics

All the insurance companies are obligated to implement the following ethical principles:
1- Hew to the commitments and rules
1-To respect and recommend implementing the commitments and rules, do not attempt to frustrate them;
2- To encounter with unprofessional insurers and brokers who do marketing using unethical ways such as bribing;
3- To do not blink at a violation and cooperate to reduce any kind of corruption;
4- To hew to the obligations and commitments, also hew to the agreements and contracts whether the law supervises them or not, whether they are overt or not;
5- To set the claim settlement on time according to the insurance policy;
6-To observe and support the rightful and open-ended competition and comply with insurance laws, especially preventing from dumping.


2- Justice and fairness
7- To determine the employees' salaries equitably and pay the agencies' and brokers' commission according to the rules;
8-To deal fairly with the customers and commercial partners overall;
9-To avoid obtaining the commercial information using unethical ways;
10-To assert the rate(s) and premium logically, fairly and according to the technical principles.


3- Clarity and fidelity
11-To interchange the information fairly and morally, also avoid representing the deceitful reports, concealing and eliminating some information meaningfully;
12-To issue the precise fiscal information continuously and his professional specialty as it are;
13-To inform the policyholder effectually about the weaknesses happened in performing the obligations including solvency margin, reinsurance coverage and professional management;
14-To explain the requirements of insurance coverage and warranty for recovery of the claim to the customers;
15-To intercommunicate with customers with clarity to avoid emerging any kind of abuse.

4- Human benevolence
16-To prevent from giving and receiving the presents extravagantly and also celebrating amusing programs for commercial partners excessively;
17- To cooperate with the coworkers who obligate the moral and ethical principles and have good reputation;
18- To respect and concern the territory (privacy) of customers, coworkers and competitors;

5- Respect the social rights
19- To respect the people's human and social rights,
20- To respect the customers' culture, conventions and beliefs;
21-Not to spite critics who believe in violating the regulations and objects the functions;
22-To counteract the laundering and any other criminal activities;
23-To protect the environment and stable development;
24-To cooperate with the NGOs and support the public strategies which enforce the development of insurance industry;
25-To receive the customers' and authorities' cases;
26-To have respect for competitors intellectual property rights.