The adoption of the General Data Protection Regulation (GDPR) in 2018 brought forth radical changes in the management of personal data across various sectors, including insurance. GDPR is one of the most stringent regulations enacted to protect the personal data of citizens and residents of the European Union (EU). Insurance companies deal with extremely sensitive …
Insurance policies provide financial coverage and protection, though improper use can result in heavy consequences. Fines, lawsuits, cancellation of policies, and even criminal charges await those who, intentionally or otherwise, breach any insurance terms and conditions. Most policyholders do not fully understand the negative impacts and consequences of non-compliance policies, which makes it vital to …
Walking in the corridors of the insurance world can be tough, more so with compliance. Insurance compliance, in simple terms, means following rules and policies that are set in place by the industry and its governing bodies. For insurers, brokers, and agents, remaining compliant is more than a legal responsibility; it is fundamental in maintaining …
When purchased, insurance provides security and flexibility for individuals. However, does it offer peace of mind when insurance companies deal with you unfairly? A common concern among policyholders is poor customer service—claims being denied or not being paid, as well as various other deceptive behaviors. In the situation that the insurer is acting unfairly, you …
In a world of informed, critical consumers, how a company communicates its beliefs can determine customer loyalty. Brands that want to build trust need to use ethical marketing, not just a term. Businesses are under pressure to open up, especially as social media promotes authenticity and accountability. This shift toward ethics is about connecting with …
The internet has revolutionised how people connect, share information, and conduct business, but its growth hasn’t been without challenges. With the vast expansion of the digital world comes an intricate web of legal and governance issues that demand attention. Internet law and governance cover a broad spectrum of legal frameworks and policies governing online activities. …
The General Data Protection Regulation (GDPR) stands as one of the most significant data privacy and security laws worldwide. Enforced by the European Union (EU) in May 2018, GDPR focuses on giving individuals greater control over their personal information while holding businesses accountable for how that data is collected, managed, and used. Although it originated …
Business ethics refer to the principles that businesses follow to operate fairly and transparently, adhering to consumer protection laws while avoiding deception. Business ethics involves striking an equilibrium between moral theories, legal frameworks, and practical business strategies in their operations. Begin your article with an engaging headline that immediately draws readers in and keeps them …
Sustainability and business ethics may seem like buzzwords; however, their importance in business has only grown over time. Sustainability refers to businesses’ recognition of their role within society, specifically that they must fulfill social, environmental, and economic responsibilities for long-term prosperity. 1. Boost Customer Loyalty Sustainability practices lead to improved profits, reduced costs, higher employee …
Ethical sourcing refers to when your company purchases its products from suppliers who abide by ethical standards, including treating workers fairly and limiting environmental impacts. Why does ethical sourcing matter? With consumers demanding more sustainably sourced goods, businesses must make ethical sourcing their top priority. 1. Environmental Sustainability As natural resources around the world are …