What is the purpose of the RIBO Code of Ethics?

The purpose of the RIBO Code of Ethics is to provide standards of professional conduct for honesty and integrity. This Code is essential in establishing a framework that guides insurance brokers in their professional interactions and decision-making processes. It emphasizes the importance of maintaining ethical behavior, which is vital for building trust with clients, colleagues, and the broader community. Adhering to these standards not only promotes professionalism within the industry but also helps to protect the interests of clients and ensures that brokers act responsibly and transparently in their practices.

In contrast, options focusing on financial targets or competition do not reflect the foundational ethical principles that the Code advocates. Additionally, the idea that brokers could operate without oversight does not align with the Code's intention to foster an accountable and responsible brokerage environment. By prioritizing integrity and ethical conduct, the RIBO Code of Ethics ultimately contributes to the overall health of the insurance sector and the trust placed in it by consumers.