2013 Corporate Responsibility
Operating with integrity is more than our responsibility: We believe it’s the only way to do business. Our governance policies and code of ethics are designed to maximize transparency and foster an environment of openness, accountability and integrity throughout our organization.
Our board of directors is responsible for corporate governance. Members of the board are kept informed of the company’s business by reviewing materials provided to them, discussing matters with individual members of senior management, and attending meetings of the board and its committees. Two standing committees—the governance committee and the regulatory compliance committee—oversee business practices and regulatory compliance. Other committees of the board include the audit, human capital and finance committees. All members of the committees are independent, non-management directors.
Our corporate responsibility efforts are guided by the overall long-term strategy set by Unum’s executive team, and our environmental and community engagement efforts are directed by members of the management team in accordance with this strategy.
Providing employee benefits that help meet the needs of policyholders during difficult times in their lives requires nothing less than an approach to business that is consistent and compassionate. Led by our senior leadership team in conjunction with our Chief Ethics Officer and Chief Privacy Officer, our employees actively work to uphold our commitment to making decisions and treating our customers with fairness and respect. We routinely monitor our ethics program through work environment surveys, employee performance reviews and other tracking mechanisms.
Our code of conduct guides our employees on how to abide by the company’s principles and access the resources available to address any ethical issues that arise. This network of support includes online and toll-free telephone access to report ethical issues confidentially and a website that provides ethics education and training. In addition to our code, our CEO and senior financial executives must also sign and adhere to a separate code of ethics.
We have strong internal controls and processes in place to ensure national and state regulatory compliance in the U.S. and U.K. In our U.S. businesses, which are primarily regulated by state, our governance and compliance practices include:
In the U.K., our compliance practices include regular review of our products and product information to ensure they meet customer needs. Our U.K. business also upholds the Treating Customers Fairly Initiative of the U.K. Financial Services Authority, which requires companies to adopt policies and practices that clearly outline product offerings and benefits to customers.
Accessing medical records is part of our daily business operations, making customer privacy a priority concern for all of our employees. Led by our Chief Privacy Officer, we further ensure the efficacy of our privacy and data security systems and practices through regular process reviews and other tracking mechanisms. We also have a variety of stringent practices and protocols in place to ensure non-public personal information about our customers is used only for lawful business purposes.