Verisk sets a high and uniform standard of fair and ethical behavior for its management, employees, and suppliers. These standards are detailed in our Code of Business Conduct and Ethics, Anti-Bribery and Corruption Policy, Supplier Code of Conduct and credentialing process, Employee Covenants, and Statement on Modern Slavery.
Our commitment to business integrity is further supported by an extensive security and compliance framework that incorporates training for our employees.
Code of Business Conduct and Ethics
Our Code of Business Conduct and Ethics covers a wide range of business practices and procedures and summarizes the standards that guide our employee actions. The code discusses compliance with laws and regulations, insider trading, protection of confidential information, conflicts of interest, use of company assets, fair employment, health and safety, and more.
Anti-Bribery and Corruption Policy
Reflecting the company’s growing global presence, Verisk’s Anti-Bribery and Corruption Policy provides expanded guidance on conducting business in compliance with the U.S. Foreign Corrupt Practices Act, the U.K. Bribery Act, and local anti-bribery laws and regulations.
Among other items, the policy sets due diligence requirements before and after engaging third parties in countries judged by Transparency International to be at higher risk for corruption.
Verisk requires Anti-Bribery and Corruption Policy training of all employees and “associated persons,” including third-party vendors, agents, and contractors. Employees are required to undergo anti-bribery and corruption training at hire and minimally every year thereafter.
Supplier Code of Conduct
Our Supplier Code of Conduct sets forth behavioral expectations governing a supplier’s relationship with Verisk. The provisions in the Code address important business conduct, integrity, and compliance areas, ranging from the protection of human rights to a duty to safeguard personal information. The Code specifies that Verisk reserves the right to conduct unannounced audits of a supplier’s facilities and operations and conduct confidential worker interviews as part of such audits. Ultimately, a supplier’s failure to comply with the Code could lead to termination of its contract with Verisk.
The Supplier Code of Conduct works in tandem with our credentialing process. Verisk contracts with an independent service that reviews publicly available government, judicial, and news sources as well as sanctions lists to assess third parties, including suppliers, for potential violations across a range of exposures, such as bribery and corruption, human rights, and modern slavery.
Verisk Employee Covenants define expectations for individual and workplace behavior. At the time of hire and every year thereafter, we require every employee, including our senior management, to acknowledge the Verisk Employee Covenants. The covenants include policies for equal employment opportunity, zero tolerance for harassment, obligation of confidentiality, intellectual property rights, antitrust compliance, computer and information security, personal information privacy, a smoke-free workplace, and more.
Verisk Statement on Modern Slavery
Given our business, employee, and procurement parameters, Verisk’s direct exposure to modern slavery risk is likely to be limited. Nevertheless, we’re conscious of the possibility of indirect risk.
In anticipation of this Statement, we carried out a country-by-country analysis of the risk of exposure to modern slavery using research and information prepared by Verisk Maplecroft—a Verisk business and recognized leader in analyzing, quantifying, and enabling global organizations to identify and mitigate extra-financial risk to operations and supply chains.
This country-level risk analysis of modern slavery was then evaluated in conjunction with the circumstances of our business, the geographic presence of our employees, and the type and distribution of our procurement spending.
The Verisk whistleblower hotline—maintained and operated by a leading company independent of Verisk—allows employees and third parties to anonymously report alleged misconduct relating to Verisk. If an individual is aware of unlawful conduct (such as human trafficking or modern slavery) or potential improprieties (such as manipulation of financial books and records, benefits fraud, or theft of company assets), the hotline provides an anonymous and safe way to report them.