The 8 most ethical insurers and brokers, according to Ethisphere

March 24, 2022 7:32 AM

A protester holds a papier mache globe during the Global Climate Strike demonstration in Berlin, Germany, on Friday, Sept. 20, 2019. A global protest movement backed by 16-year-old activist Greta Thunberg got underway Friday, with students in Australia skipping school and workers walking off the job to demand action on climate change. Photographer: Krisztian Bocsi/Bloomberg — A protester holds a papier mache globe during the Global Climate Strike demonstration in Berlin, Germany, on Sept. 20, 2019.

Ethisphere released the World’s Most Ethical Companies list, it includes 136 organizations, some of which are insurance companies and brokers.

The companies are rated using Ethisphere’s Ethics Quotient system, which includes more than 200 questions that focus on categories such as ethics and compliance, governance, leadership, culture and environmental and societal impact.

The honorees are from 22 different countries and 45 different industries. Fourteen of the winners are first-time honorees and six organizations, including Aflac, have been named to the list 16 times, every year the list has been produced.

Digital Insurance reached out via email to the eight insurance companies and brokers on the list for comment. One comment is from a press release.

Marsh McLennan

The first time on the list
Industry: Insurance brokers

Denise Sanchez, chief compliance officer, Marsh McLennan says: “We are proud to be a 2022 World’s Most Ethical Companies honoree. This honor reflects our commitment to the greater good and to serving our clients, colleagues, shareholders and communities with ethics and integrity.”

Pacific Life

The fifth time on the list
Industry: Insurance

“Pacific Life’s success is driven by our people. Our shared commitment to hold ourselves to the highest ethical standard is a cornerstone of our culture and integral to our success,” says Jim Morris, chairman, president and CEO of Pacific Life. “Being honored for the fifth consecutive year is a testament to our employees and their dedication to fulfilling our long-term promises to customers.”

“We are proud to be honored by Ethisphere for the fifth year in a row. The efforts of our employees and their commitment to making good decisions in their daily work make the honor come to life at Pacific Life. The recognition and benchmarking information help challenge us to continually grow and improve the value that strong ethics and compliance engagement means to our business,” says Sharon Pacheco, chief compliance & ethics officer, Pacific Life.

The Hartford

The thirteenth time on the list
Industry: Insurance

“We are proud to be recognized for the thirteenth time as a World’s Most Ethical Company, a designation that demonstrates the strength of our character,” said The Hartford's Chairman and CEO Christopher Swift, in a press release. “The Hartford’s values guide our actions. Our stakeholders – customers, partners, shareholders, employees and regulators – know they can count on us to uphold the highest standards of ethics and compliance.”

Unum

The second time on the list
Industry: Insurance

"It starts with a responsibility to conduct our business with the highest standards of honesty, integrity, inclusivity, and respect,” says Beth Simon, vice president, chief compliance and ethics, Unum. “Embodying these values and maintaining a culture of ethics throughout the company is essential to earning and keeping the trust of our many stakeholders. Our leaders set the tone from the top, and our ‘speak up’ culture leads to better business practices. We focus on ensuring that we are living up to the commitment to being there for others when they need us the most and making decisions that reflect our values."

It’s an honor to receive the World’s Most Ethical Companies designation. To be named multiple years in a row means that everyone is taking responsibility for the company’s ethics and compliance efforts. This designation is important to all of us and reflects the work we’ve done to build a company based on openness, accountability, inclusion and a caring spirit that can be trusted to keep its promises.”

Gallagher

The twelfth time on the list
Industry: Insurance brokers

J. Patrick Gallagher, Jr., chairman, president and CEO of Gallagher, says: "For 95 years, Gallagher has led with integrity, ethics, and compassion - the building blocks of shared values we call The Gallagher Way. Being recognized as one of the World's Most Ethical Companies – especially for our 11th consecutive year – is an honor because it's earned by our colleagues' work every day, at every level of the organization, to provide the best service to our clients."

Aflac

The sixteenth time on the list
Industry: Accident & life insurance

Tom McDaniel, chief compliance officer, Aflac U.S. says: “We define ethics as doing the right thing, even when it might be the more difficult path. As an insurer, our business is based on trust. We sell a promise to our policyholders that we will be there for them in their times of need. Building that trust means adhering to best practices in regulatory compliance, quickly addressing unexpected challenges, treating employees with respect and care, exercising concern for our planet and always honoring our commitments. We are extremely proud to be named a World’s Most Ethical Company for 16 consecutive years and never take that distinction for granted.”

Allianz Life Insurance Company of North America

The third time on the list
Industry: Accident & life insurance

Gretchen Cepek, general counsel, Allianz Life says: “Having a workplace culture based on integrity and ethics is part of who we are at Allianz Life. Our focus is helping our customers secure their future, and this recognition is validation of our strong ethical foundation that enables us to fulfill this mission.”

Allstate

The eighth time on the list
Industry: Property & casualty insurance

Ben Tobias, an Allstate spokesperson, says: “Allstate is recognized as an employer of choice and as a corporate champion for leadership in ethics, diversity, innovation and corporate responsibility. We are proud to be recognized as a great place to work by several independent organizations, and we will continue to make investments in our people to make Allstate a world-class workplace.”