THE INTEGRITY OF YOUR MUTUAL COMPANY

The integrity of all companies depends on the loyalty of those representing it.  In our case, it's the employees and the board members.  The manner in which the Board of Directors conduct themselves at all times has a huge impact on the success and reputation of the company.

DIRECTORS GUIDEBOOK/MANUAL

This portion of the Mutual Assistance Manual is an excellent source to ensure your company has the policyholders' best interest at heart.

One area of importance is the CODE OF CONDUCT.  Insurance is a business of trust and accountability.  The behavior of everyone representing your company must be respectable away from the office as well as during working hours.  You are not just an employee 8 hours per day/5 days a week, you are always an EMPLOYEE of your company.  Whether you're at church or a community function, your conduct as a mutual employee is noticed by someone.  The same applies to your DIRECTORS.  They always represent the company, not just at company meetings.  

The listing in the manual is an excellent reminder for us to remain loyal to the company at all times.  Examples include:

 

  • MAINTAINING CONFIDENTIALITY AT ALL TIMES  
  • ACCEPT ELECTION AS "TRUST AND HONOR"
  • SERVE ALL MEMBERS EQUALLY WITHOUT SPECIAL CONSIDERATION TO ANY INDIVIDUAL OR GROUP 
  • MAINTAIN HIGH STANDARDS OF CONDUCT UPON TERMINATION
  • ISSUE NO FALSE OR MISLEADING STATEMENTS TO MEMBERS OF THE PUBLIC
  • DO NOT DISCUSS PERSONALITIES OF FELLOW BOARD MEMBERS
  • MAINTAIN HIGH STANDARDS OF PERSONAL CONDUCT WHILE REPRESENTING THE MUTUAL COMPANY
       

 

Yearly, each board member and staff should review your Company's Code of Conduct and sign off on them.  The annual meeting would be an excellent time for this.

The CONFIDENTIALITY/NON-DISCLOSURE AGREEMENT addresses the disclosure of sensitive information.  Such an occurrence could be detrimental to the mutual company.  Examples in this portion of the manual include Business Rewards, Agency lists/records, Reinsurance agreements/pricing information.  Reviewing and signing off on this annually will serve as a reminder to the directors and staff the importance of their role in representing your company.

The Illinois farm mutual companies have been around for many, many years.  By reviewing the Code of Conduct and Confidentiality/Non-Disclosure Agreement regularly is just another area we can make sure our company maintains its policyholder trust and reputation in our community.  Click here to access the Mutual Assistance Manual for assistance in making your farm mutual even better!