Description: This presentation is the luncheon session from the 1987 Valuation Actuary Symposium. The speaker starts with a discussion of philosophy, and defines ethics as concerning the determination of which human actions are right, and thus should be performed, and which are wrong, and thus should be avoided. The speaker goes on to explain that ‘in addition to a general ethical theory, as a professional you need a special code of ethics simply because you are a professional,’ discussing how different professionals have different responsibilities and relationships to their clients.