Premium Rebates to Policy Holders - Are They Ethical
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Case Details:
Case Code : INS017
Case Length : 03 Pages
Period : 2003
Pub Date : 2003
Teaching Note : Available
Organization : Varied
Industry : Insurance
Countries : India
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Krupa Life Insurance Company was established by an experienced businessman,
Shyam Lal, who was the Chairman of the firm. Shyam Lal was particular about
business ethics. He was considered an honest businessman in the industry and
he won many awards (Honest Businessman Award). He appointed Rahul Khanna as
the managing director of Krupa Life Insurance Company. Rahul Khanna was
earlier employed in banks and other financial firms as a senior manager.
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Rahul Khanna was a close friend of Shyam Lal and he was familiar with
Shyam Lal's concern for ethical conduct in business. After joining the
firm, Rahul Khanna formulated a code of ethics for the employees of the
company. One of these specified that insurance agents should not offer
rebates on the premium to customers.
One day, Rahul Khanna received information that one of the agents,
Pappula Harish, was offering rebates to policyholders. He immediately
sent a letter of dismissal to Pappula Harish. Harish was shocked when he
received the letter... |
Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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