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By CAI Headquarters

CAI encourages all designation holders to review the revised Designation Ethics Enforcement Procedures and the Professional Manager Code of Ethics and Certified Insurance & Risk Management Specialist (CIRMS®) Code of Ethics.

• CAI Professional Manager Code of Ethics and Clarification Document – affects designees holding an AMS®, PCAM®, LSM® or an AAMC®.
• CIRMS Code of Ethics and Clarification Document
• Designation Ethics Enforcement Procedures – impacts designees holding an AMS, PCAM, LSM, RS®, CIRMS or an AAMC.

The CAI Board of Trustees approved revisions to the Professional Manager Code of Ethics by:

• Expanding Code 2 to define duties owed to CAI.
• Making clarifications to Code 8.
• Further defining the management and mismanagement of Client funds in Code 10.
• Further defining unprofessional behavior in Code 13.
• Making clarifications changes to Code 14.

And revisions to the Professional Manager Code Clarification Document by:

• Creating a Preamble.
• Simplifying the applicability of the Code under the Definitions.
• Further providing amplification and clarification to Codes 2, 4, 14 and 15.

The Board of Trustees also approved revisions to the CIRMS Code of Ethics by:

• Clarifying continuing education as required in Code 2.
• Simplifying Code 5.
• Eliminating Codes 7 and 10 from Code of Ethics and renumbering the Codes.
• Adding Code 9 that provides: CIRMS shall “Deliver insurance policies and loss history(ies) in a timely manner.”

And revisions to CIRMS Code Clarification Document by:

• Referencing the actions in the eliminated Code 7 falls under Code 1.
• Simplifying the amplification of Code 5.
• Removing the amplification of the eliminated Codes 7 and 10.
• Amplifying the new Code 9.

The Board of Trustees approved revisions to the CAI Code of Ethics Enforcement Procedures by:

• Further defining the application of the Code under the Scope and Allegations.
• Clarifying the nominating and appointment process for members of the Designation Ethics Committee (the “Committee”).
• Further providing guidance on the appointment of a Hearing Panel.
• Providing guidance on the filing of a complaint by a member of the Committee or the Committee itself.
• Clarifying the Inquiry processes.
• Clarified the process for recommending Sanctions.
• Removed the non-payment of designation fees from the list of special situations.

The revised changes and documents are effective upon publication. Please maintain your integrity—keep up to date on these important changes. Please click here for more information on professional credentials.