About Us

Code of Conduct

The main purpose of adopting code of ethics by BIA is to promote Standards of behavior among all members to believe and abide.

The principles:

  • Integrity Members must observe high standards of integrity and fair dealing. They must be honest and straightforward in their dealings with customers.
  • Conflicts of Interest Members must take all reasonable steps to identify, and prevent or manage, conflicts of interest that could harm the interests of a customer.
  • Due Skills, Care and Diligence Members must act with due skill, care and diligence.
  • Confidentiality Members must observe in full any obligations of confidentiality, including with respect; to client information. This requirement does not over-ride lawful disclosures.
  • Market Conduct Members must observe proper standards of market conduct, and avoid action that would generally be viewed as improper.
  • Customer Assets Members must take reasonable care to safeguard the assets of customers for which they are responsible.
  • Customer Interests Members must pay due regard to the legitimate interests and information needs of their customers and communicate with them in a fair and transparent manner. Members when dealing with customers who are entitled to rely on their advice or discretionary decisions must take reasonable care to ensure the suitability of such advice or decisions.
  • Relations with Regulators/Supervisors Members must act in an open and co-operative manner with the CBB and other regulatory/supervisory bodies under whose authority they come under. They must take reasonable care to ensure that their activities comply with all applicable laws and regulations.
  • Adequate Resources Members must maintain adequate human, financial and other resources sufficient to run their business in an orderly manner.
  • Management Systems & Controls Members must take reasonable care to ensure that their affairs are managed effectively and responsibility, with appropriate systems and controls in relation to the size and complexity of their operations. Members systems and controls, as far as is reasonably practical, must be sufficient to manage the level of risk inherent in their business and ensure compliance with the CBB Rulebook.


A member must:

  • Recognize and accept its duty of care to consumers of insurance and place the interests of its policyholders before all other considerations.
  • Advise only on insurance matters about which it is knowledgeable and possesses adequate information.
  • Treat all information received from consumers of insurance in the strictest confidence and not divulge such information without prior written consent from the party concerned.
  • Comply with the doctrine of utmost good faith by disclosing all relevant information to proposed consumers of insurance and not mislead the insured but enable him to make decisions which are in his best interest.


A member must:

  • Recognize and accept its collective and individual responsibility for professional conduct in its relationship with fellow/associate companies and all other members of the industry.
  • Ensure that the public does not suffer from acts of omission or commission by encouraging and promoting continuing education so that workers in the industry achieve increasingly better qualification standards.
  • Ensure that any advertisements or public announcements are clear and not misleading or defamatory of other members but are such as would project a positive image of the industry.
  • Honour the contractual and legal relationships which exist between itself and employees, agents, salesmen and brokers.
  • Not seek to obtain business by any unethical practice which would tarnish the image of the industry or adversely affect the interest of consumers of insurance itself and the industry as a whole.


A member must:

  • Support and participate in the Association’s various activities including improving education/service to the public or insurance and its beneficial role in society.
  • Abide by the Association’s Rules, Code of Ethics and Code of Practice and may publicize its membership in the Association only if it so abides.
  • Ensure that all advertisements or public announcements with which its name is associated are not such that would bring the Association into dispute but enhance its integrity and image.
  • Accept and execute its duties as a member of the Association, to act in accordance with the highest standards of professional conduct and ethics, to uphold the reputation of the Association and to profile the insurance profession in a very positive light.