This statement applies to Ed Broking LLP, in respect of the financial year ending 31 December 2019.
Ed Broking Group is an independent, mainly wholesale insurance and reinsurance broking group with offices across the world. However, the main legal entity carrying out business in the UK is Ed Broking LLP. It receives (re)insurance business from (re)insurance brokers internationally and places that business predominantly into the Lloyds and London company markets, with a smaller proportion placed both with (re)insurance companies internationally.
Ed Broking is strongly opposed to slavery and human trafficking and will not knowingly support or conduct business with any organisation involved in such activities. We are committed to collaborating with stakeholders to improve transparency and address incidents of slavery or human trafficking identified.
Risk assessing our supply chains
As we are predominantly wholesale (re)insurance brokers, we have simple supply chains, comprising of other (re)insurance brokers and financial and professional services organisations; these are considered to be low risk, in terms of slavery or human trafficking.
We are committed to the highest professional standards and ethics, and we expect the same high standards from all parties we work with, as well as their compliance with all local laws and regulations. This includes outsourced providers of ancillary services, such as cleaning, catering, etc.
We aim to identify and assess key risk areas in our supply chains. Should we identify slavery or human trafficking activities in our supply chains we will work to remediate that through appropriate and proportionate action in accordance with our legal and moral obligations.
Our insurance supply chain is subject to a rigorous account opening process which, involves checking of entities, and company directors, against sanction lists, financial crime and criminal offences. Additional checks are performed for parties in ‘high risk’ territories (according to Transparency International’s widely used ‘Corruption Perception Index’).
Relationships with the few ancillary service providers employed by Ed are supported by established contractual agreements, with UK-based companies. The main provider (cleaning services) has their own ‘Slavery & Human Trafficking Statement’.
We also complete rigorous background checking of new employees, within one month of their start date. All new employees undertake a programme of induction training, that includes coverage of company standards and ethics.
Training for employees
Our commitment to prevent slavery and human trafficking is underpinned by ethics training for all Ed Broking group employees. This will be enhanced in 2020 by completion of specific ‘Modern Anti-Slavery’ training, developed by the Chartered Institute of Insurance. This will ensure a high level of understanding of the risks of slavery and human trafficking in supply chains and the business in general.
Policies and Working Practices
Our working practices respect and uphold internationally recognised human rights for our partners, employees and contractors.
All Ed Broking staff make quarterly attestations that they adhere to all company policies. Ed Broking LLP does not currently have a ‘Slavery & Human Trafficking Policy’, due to the assessed low level of risk within our supply chain.
Additionally, Ed Broking has a comprehensive whistleblowing policy that encourages all employees to report any suspected concerns regarding unethical behaviour.
This statement is made and, will be updated each year, pursuant to section 54(1) of the Modern Slavery Act 2015. The statement has been approved by the board of Ed Broking LLP.
Chief Executive Officer
Ed Broking LLP
10 July 2020