Blurred promises: Ethical consequences of fine print policies in insurance
Journal article, Peer reviewed
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Date
2011Metadata
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- Scientific articles [2189]
Original version
http://dx.doi.org/10.1007/s10551-012-1224-7Abstract
Abstract The insurance industry’s practice of producing
comprehensive insurance policies can have unforeseen and
negative ethical consequences. Insurance policies express
promises from the insurer to the insured, to the effect that
the insurer should be trusted to appropriately assist the
insured in case of accident. The relation is seriously
undermined when the content of the promise is blurred,
containing clauses and condition which are ambiguous or
hidden in fine print. This paper contains an investigation of
(1) the sources of the fine print policy practice, (2) its
immediate effects on the degree to which the policies are
understandable to the insured, (3) the ethical consequences
that can follow from blurring the true content of the
insurer’s promise to the insured and (4) the measures
insurers can take in order to develop a more constructive
ethical relationship with its customers.
Description
This is the author's final and acceptet version, post refereeing, of the article. Publisher's version is available at www.springerlink.com