Code of Ethics

The Pan-Asia Risk ” Insurance Management Association issues the PARIMA Code of Professional Conduct and Ethics (“Code of Ethics”) to outline ethical principles and rules for all members who are authorised by the PARIMA Committee to use the PARIMA designation. Agreement to uphold and abide by the Code of Ethics is a requirement for earning and maintaining certification. Implicit in a PARIMA’s acceptance of the membership is an obligation to comply with the mandates and requirements of all applicable laws and regulations, and to take the responsibility to perform all professional services and activities in an ethical manner. The PARIMA Code of Professional Conduct & Ethics is based on the standards of integrity, objectivity, competence, and professionalism.

PARIMA members who fail to comply with the Code of Ethics are subject to disciplinary procedures which may result in sanctions. All sanctions are subject to appeal. Following the exhaustion of appeals, the Committee shall make available upon request the membership status and any sanctions of individuals.

The Code of Ethics is not set forth to determine behaviours resulting in criminal or civil liability, nor are they intended to resolve matters of market competition.


A PARIMA member is required to comply with the following fundamental principles:


    A PARIMA member should be straightforward and honest in all professional and business relationships. Integrity also implies fair dealing and truthfulness.

    Integrity is essential to build the necessary trust that will enable the risk manager to be a respected stakeholder within the workplace. It is the foundation on which the other principles are based.

    Integrity also requires a clear vision of what is in the interests of the organisation in the long-term, without being tempted by short-term benefits that would not be in line with best practice.


    A PARIMA member should not allow bias, conflict of interest or undue influence of others to override and compromise professional or business judgments.

    A member may be exposed to situations that may impair objectivity. It is impracticable to define and prescribe all such situations. Relationships that bias or unduly influence the professional judgment of the member should be avoided.


    A PARIMA member has a continuing duty to maintain professional knowledge and skill at the required levels based on current developments in practice, techniques and legislation. A member should act industriously and in harmony with applicable technical and professional standards when performing their functions.

    The principle of professional competence and due care imposes the following obligations on members:

    1. To maintain professional knowledge and skill at the level required to ensure that their employers receive competent professional service; and
    2. To act diligently in accordance with applicable technical and professional standards when performing their roles.

    Professional competence requires the exercise of sound judgment in applying professional knowledge and skill when performing each task undertaken to the highest possible standards. Professional competence may be divided into two separate phases:

    1. Attainment of professional competence; and
    2. Maintenance of professional competence

    The maintenance of professional competence requires a continuing awareness and an understanding of relevant technical professional and business developments. Continuing professional development develops and maintains the capabilities that enable a member to perform competently within the professional environment, and ensuring that this is in line with the best practices and quality standards of the profession.

    Professionalism is not only about having the necessary skills and knowledge to perform the job. It is also about being willing to go beyond the duty by helping to shape how the profession evolves and adapts to emerging trends. It is an additional commitment to the progress of the discipline of risk management. Examples may include participation in industry and professional call of association events; writing of reports and articles for the industry press; and political engagement with public authorities to represent and promote the profession’s interests. The practice of risk management is evolving thanks to an active community of risk managers who make a contribution in the ways described above. This helps the profession to define itself, and to collectively increase the level of shared knowledge and skills.


    A PARIMA member should respect the confidentiality of information acquired as a result of professional and business relationships and should not disclose any such information to third parties without proper and specific authority unless is a legal or professional right or duty to disclose. Confidential information acquired as a result of professional and business relationships should not be used for the personal advantage of the member or third parties.

    Respecting confidentiality is essential for all risk managers in their role as intermediaries within the organisation, facilitating dialogue between operational teams, senior management and the board of directors. Risk managers must be aware of and uphold confidentiality across the diverse range of tasks required to fulfil their role.


    A PARIMA member should comply with relevant laws and regulations and should avoid any action that discredits the profession.

    The principle of professional behaviour imposes an obligation on members to comply with relevant laws and regulations and avoid any action that may bring disrepute to the profession. This includes actions which a reasonable and informed third party, having knowledge of all relevant information, would conclude negatively affects the good reputation of the profession.

    In marketing and promoting themselves and their work, members should not bring the profession into disrepute. Members should be honest and truthful and should not:

    1. Make exaggerated claims for the services they are able to offer, the qualifications they possess, or experience they have gained; or
    2. Make disparaging references or unsubstantiated comparisons to the work of others.

As a PARIMA Member, I agree to uphold and abide by the follow tenets:

  1. Perform professional duties in accordance with the laws and with integrity.
  2. Perform professional duties in a competent and ethical manner.
  3. Avoid acts or omissions amounting to unprofessional conduct.
  4. Avoid malicious conduct that would injure the professional reputation or practice of others.
  5. Provide complete and accurate information when applying & maintaining my membership.
  6. Refrain from personal behaviour that may compromise the integrity of the credential.
  7. Disclose any felony convictions.
  8. Abide and uphold the policies of the PARIMA Committee.
  9. Safeguard confidential and privileged information and exercise due care to prevent its improper disclosure.
  10. Use the PARIMA logo only in an authorized and approved manner.