Firefly Admin Inc. Statement of Commitment to Code of Professional Conduct

Last revised and adopted: December 31, 2024

Overview

Firefly employs a variety of professionals to perform our services, including actuaries who are credentialed by the Society of Actuaries and the American Academy of Actuaries. As members of the American Academy of Actuaries, our actuaries must adhere to the Code of Professional Conduct, which has the following as a stated purpose:

“The purpose of this Code of Professional Conduct (“Code”) is to require Actuaries to adhere to the high standards of conduct, practice, and qualifications of the actuarial profession, thereby supporting the actuarial profession in fulfilling its responsibility to the public. An Actuary shall comply with the Code.”

*The full Code of Professional Conduct can be found at: https://www.actuary.org/content/code-professional-conduct

Although not all Firefly employees are actuaries who are bound to comply with the Code, Firefly herein makes a commitment to uphold the Code, incorporating the Precepts of the Code as standards for general business practices and delivery of services for all Firefly employees where applicable outside the scope of work specifically prepared by a credentialed actuary.

Precepts

There are 14 Precepts of the Code that cover various aspects of actuarial work. Firefly upholds all Precepts of the Code as a corporate standard for all Firefly actuaries and employees. We have highlighted some of the Precepts below that are most applicable to the services we provide:

Precept 1 - Professional Integrity

An Actuary shall act honestly, with integrity and competence, and in a manner to fulfill the profession’s responsibility to the public and to uphold the reputation of the actuarial profession.
Precept 3 - Standards of Practice

An Actuary shall ensure that Actuarial Services performed by or under the direction of the Actuary satisfy applicable standards of practice.
Precept 7 - Conflicts of Interest

An Actuary shall not knowingly perform Actuarial Services involving an actual or potential conflict of interest unless: (a) the Actuary’s ability to act fairly is unimpaired; (b) there has been disclosure of the conflict to all present and known prospective Principals (clients) whose interests would be affected by the conflict; and (c) all such Principals (clients) have expressly agreed to the performance of the Actuarial Services by the Actuary.
Precept 9 - Confidentiality

An Actuary shall not disclose to another party any Confidential Information unless authorized to do so by the Principal (client) or required to do so by Law.
Precept 10 - Courtesy and Cooperation

An Actuary shall perform Actuarial Services with courtesy and professional respect and shall cooperate with others in the Principal’s (client’s) interest.

Questions?

If you have any questions about this Statement or believe that Firefly has failed to uphold this Statement, please contact Anthony Hill, President, at (518) 687-1400 or contact us.