Examining the Operations of Life Insurance Companies of Bangladesh from Ethical Perspective

Abstract

This paper examines ethics in the insurance industry in Bangladesh and
provides some policy measures for future development. Although insurance business
is an integral part of the financial system of Bangladesh since nation’s birth, this
sector still does not catch much attraction of the policyholders. Insurance industry
itself is a major catalyst for ethical dilemma and here with a half century old law
and in new competitive work pressure insurance companies may involve in unfair
means and seek more profit via any means. In the current situation people may not
consider insurance as viable option and this ethical environment here play a great
role. So some recommendations for both regulatory authority and insurance
companies are provided for ensuring an ethical environment and thus attract more
customers in an attainable way in this sector.