Strong corporate governance and shareholder rights are core values of Chubb. Our commitment to these principles is reflected on fundamental levels, ranging from our organization documents to policies, procedures, employee trainings and standards of conduct ingrained throughout our company.
As an insurance company, we are in the business of managing risk. Our approach to corporate governance is an important part of who we are and how we conduct ourselves every day, helping us mitigate and manage the risks we face as an organization. Chubb’s corporate governance framework guides how management runs the business and how our board provides oversight.
Chubb’s board of directors sets high standards for the Company's employees, officers and directors. The board has adopted Organizational Regulations, Corporate Governance Guidelines and Categorical Standards for Director Independence covering issues such as executive sessions of the board, director qualification and independence standards, board leadership, director responsibilities and procedures, director equity ownership guidelines, management evaluation and succession and board self-evaluations.
Chubb is also committed to a vigorous shareholder outreach program, through which we regularly engage with our investors and stakeholders around the world to gain insight into the issues at the forefront of their business policies and guidelines. Shareholder input helps us remain at the forefront of policies, best practices and disclosures on a full range of key governance areas.
Chubb maintains a committed and energetic shareholder outreach program intended to provide our board and management with insight into the concerns and priorities of our shareholder community.
Chubb recognizes that each employee is accountable for his or her own actions, and that we must all hold ourselves to exacting standards. The Chubb Code of Conduct reaffirms the company’s shared commitment to ethical behavior throughout the organization. It guides employees in their day-to-day activities by clearly defining the organization’s expectations for ethical conduct.
All Chubb employees are responsible for following the Code and associated policies and procedures, regardless of position or seniority. Employees, officers and directors are required to formally acknowledge acceptance of the Code and confirm that they know and understand the standards expected of them. Chubb also expects anyone acting on the company’s behalf to share its values and follow the principles set out in our Code. This includes consultants, agents and third-party representatives, as well as suppliers, vendors and other service providers.
Provisions of the Code of Conduct related to anti-corruption include:
Chubb employees are required to complete compliance training on a regular basis. Chubb maintains an ongoing training program on anti-bribery, anti-corruption and business ethics policies, procedures and practices, provided though all levels of the company. These trainings and policies cover our relations, dealings and interactions with regulators, governments, business partners and outside contractors, as well as customers and insureds.
Compliance at Chubb is an independent function that operates with the following objectives: