A Business Can Improve Its Culture of Ethics by Ensuring

question 88

True/False

A business can improve its culture of ethics by ensuring that a strict code of ethics and a meaningful and current mission statement is in place and that both are clearly communicated to employees when they start working at an organization.

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Definitions:

Insurance Contract

A legally binding agreement between an insurer and the insured, outlining coverage terms, conditions, and premiums.

Insurable Interest

The requirement that a policyholder must stand to lose financially if the insured event occurs, establishing a legal right to insure the item or life.

Insurance Company

A business entity that provides financial protection and compensation for losses in exchange for payment of premiums.

Premium

The amount paid for an insurance policy or the charge for accepting a higher risk in financial transactions.