What should an insurance broker do to comply with the Code of Ethics if there is no complaints-handling system in place?

The focus of the Code of Ethics for insurance brokers emphasizes the importance of professionalism and accountability in their practice. Ensuring that all complaints are documented and addressed is essential for demonstrating a commitment to ethical standards and client care.

By documenting complaints, the broker can create a clear record that helps in assessing issues that may arise, ensuring transparency and trust with clients. Addressing these complaints involves taking appropriate action to resolve issues, which not only helps in maintaining client relationships but also reduces the likelihood of future disputes.

This approach protects both the client and the broker, as it encourages proactive management of any dissatisfaction that clients may have. It reflects a responsible business practice by acknowledging the importance of client feedback and the need for continual improvement in services provided.

In contrast, other options do not sufficiently align with the expectations set forth in the Code of Ethics. Merely taking no action or assessing working practices without implementing a structured response to complaints fails to provide the necessary framework for ethical behavior. Establishing a written complaints-handling system, while beneficial, may not be practical if it is not yet in place; the immediate priority should be on ensuring current complaints are documented and resolved to foster a responsible environment.