Modern Slavery Statement

Liberty Specialty Markets (“LSM”) is proud of the conditions of employment for all of its employees. Given the nature of its business, the LSM board and management teams consider that there is minimal risk that either within LSM or via the limited supply chains which support its business activities, LSM is in any way involved in or even tangentially supportive of, or complicit in slavery and human trafficking.

This statement has been made pursuant to the obligations arising under section 54(1) of the Modern Slavery Act 2015. This statement should be considered to constitute the slavery and human trafficking statement for all UK companies within the LSM Group.

LSM is part of the Global Specialty division of Liberty Mutual Insurance Group. LSM is the trading name for Liberty Mutual Insurance Europe (Company number: 01088268), Liberty Managing Agency Limited (Company number 03003606), Liberty Specialty Services Limited (Company number: 04845458), Liberty Corporate Capital Limited (Company number: 02993038) and Liberty Specialty Markets Limited (09023400). LSM provides insurance and reinsurance products and services in various jurisdictions.

LSM is committed to ensuring that human trafficking and modern slavery do not exist in the supply chains in any part of LSM’s business. LSM has and will continue to maintain a zero tolerance for modern slavery and human trafficking and will be taking all necessary steps to ensure that this is maintained.

LSM’s internal and external whistleblowing procedures, which are published and regularly updated on LSM’s intranet page, are ingrained in the company’s corporate culture.

LSM understands the importance of introducing effective steps to ensure human trafficking and modern slavery is not supported at any level of business.

LSM‘s due diligence process will incorporate the assessment of its third parties’ awareness and approach to modern slavery to ensure it is in line with LSM values.

Risk analysis and identification is of paramount importance to LSM. The following steps and procedures are designed to identify and assess areas of risk and ensure that all areas of LSM’s business comply with LSM’s philosophy:

  • Any material and high risk supply chains, TPAs and contractors will be asked to confirm compliance to ensure that they do not assist, contribute or actively participate in modern slavery and human trafficking.
  • LSM will reserve a right of audit with any material and high risk supplier, contractor or TPA.
  • LSM will consider a risk assessment model to assess the risks of human trafficking and modern slavery in the supply chains, TPAs and contractors.

LSM will initiate a campaign to help raise awareness of modern slavery and human trafficking for all who fall under LSM’s employment. It is LSM’s intention for all employees to be aware of LSM’s stance.

By way of effectively combatting modern slavery and human trafficking, LSM will make those employees who have responsibility for relationship management with service providers, aware of the statement. Also, LSM intends to bring this statement to the attention of all LSM employees, as well as focusing on the due diligence processes put in place for supply chains, contractors and TPAs.

All employees who will commence employment at LSM after the publication of this statement, will be required to read this statement as part of their induction to LSM.

LSM’s intranet page shall be a central hub for viewing information on how LSM will combat modern slavery and human trafficking. LSM will identify points of contacts whose role will be to implement LSM’s policies.

We will be evaluating next year the effectiveness of LSM’s policy implementations with regard to combatting modern slavery and human trafficking. LSM will seek co-operation and feedback from its employees and suppliers to gauge the effectiveness of LSM’s policy implementation of its anti-slavery and human trafficking obligations.

Nick Metcalf

President & Managing Director, Liberty Specialty Markets

21st February 2017

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