5 P&C companies named to list of ethical companies

Five property and casualty companies have been named to a list of ethical companies put together by the Scottsdale, Ariz.-based Ethisphere Institute, a management consulting firm.

Connecticut-based Hartford Financial Services Group Inc.; Northbrook, Ill.-based Allstate Corp.; San Antonio-based USAA; Itasca, Ill.-based Arthur J. Gallagher & Co.; and Columbus, Ga.-based Aflac Inc. were among the 131 companies spanning 21 countries named to Ethisphere's 2016 World's Most Ethical Companies list.

This is the 10th year the Ethisphere has compiled the list, which it says measures companies that demonstrate leadership in areas such as citizenship, integrity and transparency.

Hartford, which has appeared on the list eight times, said the company's culture is built on a foundation of integrity and respect, backed by a strong ethics and compliance program that emphasizes leadership accountability and preventing ethical lapses and compliance issues. The company said it demonstrates these values in the way its employees make decisions, promote an inclusive work environment, volunteer in local communities and become ambassadors for environmental stewardship.

“This effort is amply supported by a strong compliance and ethics program which is anchored by a notable code of conduct and impressive training and communications efforts,” said Timothy Erblich, Ethisphere's chief executive officer.

This is the second year Allstate has appeared.

“Our commitment to leading ethically is at the core of who we are as a business. It drives our reputation, culture, business opportunities and long-term value to our stakeholders,” said Kelly Noll, senior vice president and chief ethics, compliance and privacy officer of Allstate. 

Ethisphere said companies on its list align principle with action, work to make trust part of their corporate DNA and shape industry standards by introducing tomorrow's best practices today.

“Companies rely on Ethisphere to continually raise and measure the standards of corporate behavior. Those that demonstrate leadership in areas like citizenship, integrity and transparency create more value for their investors, communities, customers and employees, thus solidifying a sustainable business advantage,” Erblich said.

Aflac has appeared on the list every year since its inception, which the company's chairman and CEO, Dan Amos, said is “an honor and, in today's climate, a welcomed validation of our business practices.”

“Research continues to show that consumers and investors have a heightened expectation for companies to behave ethically and responsibly, so we are proud to receive this award,” he said.

Gallagher, the only insurance broker on the list, has been on the list for five consecutive years.

“Transparency and sustainability are no longer mere buzzwords for corporations. As a board member, my role is not only one of oversight, but one of stewardship, that is, ensuring that these corporations are both valuable and worth preserving,” said Sherry Barrat, board member of Arthur J. Gallagher & Co. “Companies that understand that corporate integrity is a key driver and provides a performance advantage are those that will continually lead their industries and be considered both trustworthy and successful.”

Stuart Parker, CEO of USAA said everything they do is driven by the company's core values of honesty, integrity, loyalty and service. “USAA employees come to work every day with a passion to do the right thing to facilitate the financial security of our members, their families and each other,” he said.

Ethisphere said it scores companies in five categories: ethics and compliance program; corporate citizenship and responsibility; culture of ethics; governance; and leadership, innovation and reputation.

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