Ethical Standards and Professional Conduct in Nigerian Insurance Broking Practice

This study examines ethical standards and professional conduct among insurance brokers in Nigeria, with particular focus on practitioners registered with the Nigerian Council of Registered Insurance Brokers (NCRIB) in Lagos and Port Harcourt. Insurance brokers occupy a position of professional trust, obligated to act in the best interests of clients while maintaining compliance with regulatory and ethical codes. However, documented instances of premium misappropriation, misrepresentation of product terms, and kickback practices raise concerns about professional conduct standards across the industry. This research employs a professional ethics evaluation design with primary data from 80 registered insurance brokers and 120 corporate clients across the two study cities. Questionnaires measure brokers' self-assessment of adherence to NCRIB's code of ethics, client perceptions of broker professional conduct, and reported experiences with ethical breaches. In-depth interviews with NCRIB compliance officers and senior practitioners supplement the quantitative data. Descriptive statistics and thematic content analysis characterize ethical compliance patterns. Preliminary findings are expected to reveal significant gaps between ethical code prescriptions and actual practice, particularly in premium remittance and full disclosure obligations. The study recommends strengthening NCRIB's disciplinary mechanisms, mandatory continuing professional development in ethics, and client feedback mechanisms. Keywords: Ethics, Insurance Broking, NCRIB, Professional Conduct, Consumer Protection.