UAC : Underwriting Agencies Council

Business Standards & Ethics
Business Standards and Ethics
While voluntary, UAC encourages members to conduct business in accordance with a code of ethics and business standards.

1. Ethics
To conduct business honestly and in accordance with the articulated objectives of UAC and to ensure all staff members are aware of, and agree to conform to, these standards.

2. Honesty and Representation
UAC members will make no inaccurate claims, statements or representations regarding any other UAC members.
They will compete openly and with integrity.
Members will make no misleading statements regarding any services or products offered.

3. Clients
UAC members serve clients to the best of their ability by selecting and retaining access to underwriting companies they are satisfied are of good quality and financially sound.
Members ensure good standards of technical and staff resources.
They ensure staff are adequately trained.

4. Financial Obligations
UAC members promptly fulfill financial obligations, including brokerage and returns due to clients, debits, premiums and other financial commitments to insurers, and all other monetary obligations to staff and other stakeholders.

5. Obligations to Insurers
Members undertake to:
  • Faithfully employ and conform to any underwriting or other terms agreed with the companies they represent.
  • Agree to collect all information considered reasonably necessary to make viable, realistic underwriting decisions, before putting a company on risk.
  • Be aware of and understand current and pending laws in all states and territories of Australia that may affect or impact represented insurers and their products. UAC members will provide advice on such matters where applicable.


6. The Law
UAC members declare that:

  • They understand and agree to observe all applicable Australian laws and legislation and any rules or regulations deemed to apply to the insurance industry.

 

Upcoming Events

Sept 16-17, 2010
ANZIIF regional conference

Tue, Nov 9, 2010
Professional Development Day

November 19, 2010
UAC NIBA Expo Perth

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