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The World’s 5 Most Ethical P&C Insurance Companies

An insurance broker, three P&C insurers and a major insurance/reinsurance company were among 145 companies designated as the World’s Most Ethical Companies by the international think-tank Ethisphere Institute.

The designation goes to companies “that truly go beyond making statements about doing business ethically and translate those words into action. The honorees not only promote ethical business standards and practices internally, they exceed legal compliance minimums and shape future industry standards by introducing best practices today.”

This year’s list of honorees includes more than three dozen industries, from aerospace to wind power, with 43 of the WME winners headquartered outside the U.S.

Since the list's inception, 23 companies have achieved the honor all six years including: Aflac, American Express, Fluor, General Electric, Milliken & Company, Patagonia, Rabobank and Starbucks, among others.

Ethisphere Institute is an international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability.

Click "next" to see the 5 most ethical P&C insurance companies in the world.

Arthur J. Gallagher & Co., Itasca, Ill.-based insurance broker and risk management services firm with operations in 19 countries and offering client-services in more than 140 countries. The firm has won the award for a second year in a row.

“We’ve always focused on running our business with integrity and strong ethical values,” said J. Patrick Gallagher, Jr., Chairman, President and CEO. “This award is a testament to our nearly 14,000 employees worldwide, who understand the central role integrity plays at Gallagher.  It is a tremendous honor to once again be recognized as one of the World's Most Ethical Companies.”

CUNA Mutual Group, P&C insurance, headquartered in Madison, Wis., has been committed to helping customers achieve financial success since its founding in 1935 by credit union pioneers. It offers an extensive list of insurance products ranging from business liability to auto and home to life and warranty. The company employs 4,000 people worldwide and 1,600 in Madison alone.

“We are proud to be a part of this exclusive list of companies," says Steve Koslow, chief ethics and compliance officer. "It’s an honor to be recognized for walking the talk on our commitment to corporate responsibility and ethics in business."

“Ethical behavior is critical to the success of our company; as important as good customer service, efficient operations and strong financial performance,” the company says. “CUNA Mutual Group’s Code of Conduct provides guidance regarding the legal and ethical standards that apply to each of our employees.”

Sompo Japan Insurance Inc. (SJI), the parent company of SJA, was established in 2002 by the merger of Yasuda Fire & Marine Insurance Co., Ltd and Nissan Fire and Marine Insurance Co., Ltd. SJI is among the largest P&C insurers in the world and is the 3rd largest in Japan.

Says Sompo Japan Insurance of America President & CEO Hiroyuki Yamaguchi, “Our top priority is to focus on the needs of our customers. We are positioned to assist our customers in managing their complex risks. We provide our customers with the highest quality insurance products, strong commitment to loss control service and excellent claim service.”

The company says that Sompo Group Philosophy includes the statement that it will “extend the highest quality of service across a wide range of business activities to provide security and peace of mind to our customers, always carefully considering the customer’s perspective and acting with integrity and high ethical standards.”

The Swiss Re Group, is a global powerhouse provider of insurance and reinsurance that counts among its clients insurance companies, mid-to-large-sized corporations and public sector clients. The company is in three businesses—reinsurance, insurance and life insurance. The bulk of its business—88 percent—is reinsurance.

On its Website, Swiss Re says, “Client centricity, agility, team spirit, passion to perform and integrity – these are aspects, not just of the organization, but of how its people should do business every day…A clear statement of corporate values now complements Swiss Re’s operating model and business goals. Across the Group, employees and managers will find improved scope to serve their clients, to make decisions and take responsibility, to exercise leadership and accept accountability.”

The Progressive Group of Insurance Companies, P&C auto insurer based in Mayfield Village, Ohio, founded in 1937, has 25,000 employees in more than 450 offices throughout the United States.

The company says of itself on its Website, “Communicating a clear picture of Progressive by stating what we try to achieve, how we interact with customers, and what guides our behavior permits all people associated with Progressive to understand what we expect of ourselves and each other and how we conduct our business.”

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