The Hartford Financial Services Group has been named one of the “World’s Most Ethical Companies” by Ethisphere Magazine, which is published by a think-tank dedicated to the research and promotion of profitable best practices in business.
The company was cited for its best practices in global governance, business ethics, compliance and corporate responsibility. The list was developed by researchers and analysts who reviewed several thousand companies worldwide for their codes of ethics, litigation and regulatory infraction history, sustainable business practices and corporate citizenship.
Other winners in the financial services area were American Express, NYSE Euronext and Principal Financial Group. Other Connecticut winners included General Electric Corp., Xerox and Pitney Bowes.
‘Above And Beyond’
“If a company went above and beyond what they were required to do in terms of good business practices they were represented on the list,” said Stefan Linssen an editor of Ethisphere Magazine. “The Hartford was one of the standouts in their industry.”
The list was Ethisphere’s second-annual ranking of the “World’s Most Ethical Companies.” To be considered a business must be nominated by experts, analysts and companies within their industry.
Officials at The Hartford credited the distinction to their recent commitment to expand an ethics and compliance program.
“We took a look at our organization and built out a much more comprehensive ethics and compliance program dedicated to all our lines of business,” said Scott Mansolillo, director of compliance at The Hartford. “A lot of it occurred in the past, but now it’s done with a lot more vigor and regularity.”
A monthly risk assessment identifies problem areas and determines ways to improve them. Employees are required to take ethics and compliance courses on topics ranging from privacy to conflicts of interest and ethical decision making.
The program enhances the company’s ability to understand and address legal and regulatory risks facing each business area and the entire enterprise, Mansolillo said.
