Approach
Travelers established and maintains aCode of Business Conduct and Ethics, which applies to all of our employees, officers and directors and provides a comprehensive framework for sound ethical business decisions. The Code, which is also available in French for our employees located in Canada, provides principles for each employee to follow when acting on behalf of Travelers and sets forth our expectations on a number of topics, including conflicts of interest, compliance with laws, business ethics and use of corporate assets. Our Chief Ethics and Compliance Officer oversees communication, education and compliance with the Code. We also employ and train Legal, Compliance and Human Resources professionals to help our employees reach the right decision, regardless of the circ*mstances.
Our ability to achieve our goals of beingthe undeniable choice for the customer and an indispensable partner for our agents and brokers depends on our culture of honesty, integrity and accountability. Our commitment to transparency and integrity starts with our senior leadership. Our Chairman and CEO, Alan Schnitzer, sets the tone, including through regular companywide communications. Here’s an excerpt from one of his messages:
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This approach remains critical to maintaining our culture of candor and continuing to deliver sustained value to our stakeholders.
Our focus on ethics includes a commitment to employing responsible business practices. Travelers maintains thoughtful and comprehensive underwriting and pricing policies and practices, including robust governance and controls designed to ensure that the company’s pricing is actuarially sound and that its underwriting and pricing practices comply with all applicable laws.
We also expect our suppliers to conduct themselves with honesty and integrity. TheTravelers Supplier Code of Conductdocuments our expectation that all contractors, consultants, suppliers and vendors demonstrate their commitment to ethical, humane, socially responsible and legally compliant business practices, including by maintaining a harassment-free and respectful workplace. We also proudly commit to the protection of human rights everywhere we do business, as described in ourHuman Rights Statement.
To learn how our ethical culture drives our ability to attract and retain talented, diverse and qualified employees, see ourHuman Capital ManagementandDiversity & Inclusionsections.
Board Oversight
The Nominating and Governance Committee of the Board of Directors periodically reviews the Code of Business Conduct and Ethics and recommends changes to the Board, as appropriate. The Audit Committee, which has oversight responsibility for regulatory and compliance matters, receives a quarterly report on compliance matters, including Ethics Helpline activity. In addition, the Audit Committee meets in executive session with the Chief Ethics and Compliance Officer each quarter.
