Is this Ethical

[Markthebroker]

If you do not take care of your client. I will.

Lolz, best response here. Lol.

 

[Markthebroker]

Is the following scenario Ethical, Legal, Acceptable?

You own an insurance agency. You have producers and CSRs.

You sell essentially just two products. The products are the exact same. Same coverages, Same dedcutibles, both admitted products. These are annual renew policies, but there is nothing stopping folks from changing mid year.
Product A costs lets say $5,000 per year, Called Great Insurance, this product was launched say 5 years ago.
Product B costs lets say $1,000 per year Called Great Performance Insurance, this product was launched say last year
-Remember they are the EXACT same products, same coverage, same deductibles, same insurer, all the Ts and Cs are the same, and the same FSRs. Its basically the same product at a fifth of the cost.

Your agency markets the heck out of Product B to attract new customers.

Many of your exisiting clients are on product A. The questions are:
Do you have to inform all of your clients of the exisitance of the new product, Product B?
Is is Ethical, Legal, Acceptable to "forbid" your producers and agents to discuss Product B with Clients that have Product A?

Thank you for your time!

Frankly @mudhound had the best answer. If you don't do the right thing, the market will do it for you.

Specifically, though, I would say the answer to both questions is "no".