Respecting human rights
Zurich strives to ensure respect for human rights, at all levels of the business.
Our commitment to respect human rights is part of our Group’s Code of Conduct.
We respect the protection of international human rights within our sphere of influence and work hard to avoid being complicit in human rights abuses. Zurich is committed to fair and responsible business and takes a zero-tolerance approach to bribery and corruption and any business conduct that could create the appearance of improper influence.
When interacting with employees, customers, investees, shareholders, suppliers, partners, distributors, the public at large or any other stakeholder, we aim to promote the following best-practice standards to manage potential adverse human rights impacts:
- United Nations Guiding Principles on Business and Human Rights: Implementing the United Nations Protect, Respect and Remedy Framework
- OECD Guidelines for Multinational Enterprises
- United Nations Global Compact
These principles are included in our Code of Conduct, which applies to our employees and Board members. We endeavor to work with third parties such as consultants, advisers, suppliers and agents who share our values, and we expect our business partners to adhere to the spirit of our Code and embrace high standards of business conduct.
Zurich employees are required to complete training on our Code annually and acknowledge that they have read our Code, and that they understand and agree to be bound by the provisions contained in our Code and our other internal policies. Employees are asked to do so upon hire, and annually after that.
We assess possible adverse human rights impacts within our sphere of activity, which includes our role as an employer, as an insurer, and as an investor, as well as our own operations and supply chain and our position within society.
By signing the UN Global Compact in 2011, we committed to aligning our strategy, culture and day-to-day operations with the Global Compact’s 10 universally accepted principles in the areas of human rights, labor, environment and anti-corruption.
We pay special attention to transactions that might contravene human rights and forced labor. Six of the 10 UN Global Compact principles relate to human rights:
Businesses should support and respect the protection of internationally proclaimed human rights; and
make sure that they are not complicit in human rights abuses.
Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
the elimination of all forms of forced and compulsory labor;
the effective abolition of child labor; and
the elimination of discrimination in respect of employment and occupation
Applicability of our Code of Conduct
Our Code of Conduct applies to everyone at Zurich and its subsidiaries worldwide, including board members and employees including management. Regardless of our role, responsibilities or where we are located in the world, we each do our part to consider the Code and related policies as we go about our daily activities and decisions. We endeavor to work with third parties such as consultants, advisers, suppliers and agents who share our values, and we expect our business partners to adhere to the spirit of our Code and embrace high standards of business conduct.
Speaking up about Integrity Concerns
Zurich provides mechanisms for employees and other relevant stakeholders to report suspected or actual illegal, fraudulent, improper or unethical conduct (“Integrity Concerns”), including issues related to human rights.
Employees, suppliers and other business partners may raise Integrity Concerns, including human-rights related issues, confidentially, including through the Zurich Ethics Line, or via other locally available reporting channels.
Zurich does not tolerate retaliation against any employee or other person reporting an Integrity Concern in good faith. Reports are handled confidentially and in accordance with applicable internal policies and processes.
Integrity Concerns are reviewed and assessed by the relevant functions. Where appropriate, follow up actions may be taken to address identified issues or mitigate adverse impacts. The handling of Integrity Concerns and any resulting actions are subject to applicable governance and oversight arrangements.
Our responsibility as insurer
As per our signing of the UN Global Compact, our approach to managing sustainability risks in business transactions has a particular focus on transactions where the insured customer may have an established track record of human rights violations, or is implementing projects that are particularly prone to potential human rights and environmental issues, such as mining or oil and gas projects. Human rights issues that are considered are:
- Child labor
- Forced labor and compulsory labor
- Involuntary relocation of local communities, inappropriate use of force or adverse impacts on vulnerable indigenous people. Evidence of such violations can include, but is not limited to, the absence of right of free, prior and informed consent for Indigenous Peoples (FPIC).
- Poor health and safety conditions
- Instances of bribery and corruption
Through our underwriting guidelines and checklists, we apply guidance on underwriting decisions including clear referral processes.
