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 insurance, consumer credit related lines of insurance, and other consumer credit protection products and services whether ir 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 shall support full disclosure to customers concerning the cost, terms and contractual obligations of debt protection products provided in connection with credit transactions. Disclosures will be as simple, clear, and unambiguous as circumstances permit so as to allow the consumer to make an informed decision.

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

Members shall appoint as agents and representatives persons known to possess a high degree of integrity, responsibility, and ethics.

Truth and fairness in advertising shall be the guided principle of all promotional and sales material in order to enable consumers to make an informed decision,

Members shall support laws and regulation necessary to protect the public interest and provide opportunity for a fair return to insurers and financial services providers, and their agents.

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