WHEREAS, the Consumer Credit Industry Association, a trade association of insurance and other financial services providers engaged in the business of underwriting, selling, or servicing consumer credit related lines of insurance, and other consumer protection products and services whether or not insurance, was organized for the purpose of promoting high ethical standards of conduct throughout the industry, and to that end has encouraged and fostered equitable regulation of the industry in many jurisdictions. 

 NOW THEREFORE BE IT RESOLVED, that, to demonstrate its commitment and as a guide to its members, the Consumer Credit Industry Association adopts the following code of ethics: 

 Each member has a responsibility to (a) consumer borrowers, (b) beneficiaries, (c) the general public, (d) regulatory officials, (e) shareholders, (f) agents, and (g) the financial services industry. 

 Members will support full disclosure to consumers concerning the cost, terms and contractual obligations of protection products provided to said consumers 

 Disclosures will be as simple, clear, and understandable as circumstances permit so as to allow the consumer to make an informed decision. 

 Members will strive to process all claims fairly, courteously, promptly, and without unwarranted dispute. 

 Members and their representatives will strive to act with a high degree of integrity, responsibility, and ethics. 

 Truth and fairness in advertising is a guiding principle of promotional and sales material in order to enable consumers to make an informed decision. 

 Members will support laws and regulations necessary to protect the public interest and provide opportunity for a fair return to insurers and financial services providers and their distribution partners. 

 Members will cooperate with regulatory officials and other public authorities in the reasonable and effective enforcement of laws and regulations governing the business, and will strive to promote universal observance of these standards and principles throughout the business.