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At EBS Foran Insurance and Advisory Services, Inc. and the
John P. Foran Insurance Agency, Inc. (referred to collectively
as "EBS Foran"), we are committed to fostering a
culture of integrity, professionalism and high ethical standards
in all our dealings with clients, vendors, the public, each
other, and all others. In furtherance of this end, this Code
of Ethics shall govern all employees of EBS Foran.
General Standards
It is the responsibility of every EBS Foran employee:
- To fulfill the needs of our clients to the best of one's
ability, within the bounds of the law and consistent with
these ethical standards.
- To consistently serve our clients with integrity, competence,
objectivity, and professionalism.
- To consistently provide exemplary service to our clients.
- To present all facts essential to our clients' decisions
in an accurate, honest and straight-forward manner.
- To maintain client confidences and internal corporate
confidences.
- To strive to increase knowledge and improve skills through
continuing education.
- To keep informed with respect to applicable laws and
regulations and to observe them in the conduct of our business.
- To hold our profession in high esteem and to strive to
enhance its prestige and image.
- To aid others within EBS Foran to act with integrity and
professionalism and to report to appropriate EBS Foran management
personnel any perceived breaches of the ethical standards
expected of all of us.
Commitment to Fiscal Integrity
- We may serve a client on a commission basis (as a broker)
or on a fee-for-services basis (as a consultant), but never
as both a broker and consultant with respect to a particular
line of business.
- Every reasonable effort shall be made to insure that
the client is fully informed of the financial options relative
to our service to the client.
- Where such options are available, our clients shall be
afforded the opportunity to make an informed choice as to
the basis for our compensation.
- Where a client elects to retain our services as a consultant
on a fee-for-services basis, the fee to be charged shall
be fully disclosed and agreed to in writing.
- Where a client chooses to designate the John P. Foran
Insurance Agency, Inc. as its broker of record, the basis
for any commissions or other remuneration payable to this
firm shall be available to the client at all times upon request.
Ethics Committee
EBS Foran has established a standing Ethics Committee. This
Committee is charged with the responsibility of reviewing
our Code of Ethics as often as necessary to insure that the Code of Ethics remains responsive
to changing laws, regulations, and practices and continues
to advance the underlying goal of helping to ensure that we
at EBS Foran adhere to high ethical standards in the service
of our clients.
In addition to reviewing the Code of Ethics and making suggestions
for its revision, as necessary, the Ethics Committee is intended
to serve as a resource to all EBS Foran employees. Whenever
anyone within the EBS Foran "family" has any question
or concern as to whether or not a particular act or course
of conduct is appropriate, that individual may and should
raise the question or concern with a member of the Ethics
Committee. The Ethics Committee, in turn, should then carefully
examine the question or concern and make a collective recommendation
to the inquiring individual and EBS Foran management as to
the most appropriate, ethical course or courses of action
under the circumstances. The Ethics Committee should consider
the issue and make its recommendation within three (3) days
of the inquiry, unless the circumstances dictate that the
Ethics Committee's consideration of and recommendation on
the issue occur more quickly.
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