Keeping the insurance
industry’s flag flying high, five insurers have been named as being
among the world’s most ethical companies by the Ethisphere
Institute, a non-profit organisation focused on promoting ethical
corporate behaviour. This year Ethisphere recognised 110 companies
in 38 industries as the world’s most ethical.

Winners of the award in the
insurance category were: US life insurer AFLAC, Swiss reinsurer
Swiss Re, Japanese general insurer Sompo Japan Insurance and US
health insurer Wisconsin Physicians Service Insurance. US insurer
The Hartford Financial Services received the award under the
financial services category.

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Ethisphere noted that there
is no set number of companies that make the list of the most
ethical companies each year.

“The World’s Most Ethical
Company designation is awarded to those companies that have leading
ethics and compliance programmes, particularly as compared to their
industry peers,” noted the organisation.

To be selected as a world
ethics leader companies submit applications to Ethisphere. These
are assessed using criteria compiled by a committee of attorneys,
professors, government officials and organisation leaders.
According to Ethisphere, the number of applicants for the 2011
awards numbered in the thousands.

AFLAC’s award was of
particular significance, being the fifth it has won in as many
years.

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Commenting on the award to
AFLAC, Ethisphere executive director Alex Brigham said: “AFLAC
recognises the important role that principled practices play in
brand reputation, which ultimately is the most valuable asset for a
corporation.”

For Wisconsin Physicians Service Insurance, a non-profit
company, the award was its second in a row.