Allied World recognizes the importance of corporate environmental, social and governance (“ESG”) responsibility and the positive impact that companies can make within the broader community. We are committed to several initiatives that we believe support our environment, our communities and our people. Our risk management and governance frameworks reflect our commitment to good corporate governance and compliance with applicable legal and regulatory requirements.
As part of the Fairfax Financial Holdings Limited (“Fairfax”) group of companies, we also follow the Fairfax Guiding Principles, and we support group ESG initiatives that aim to foster meaningful change worldwide.
Please review Fairfax’s latest ESG Report for more information.
Our Guiding Principles
Allied World’s Code of Business Conduct and Ethics enables our staff to support our commitment to integrity and doing the right thing. As part of the Fairfax group of companies, we also follow the Fairfax Guiding Principles that include the following values:
- Honesty and integrity are essential in all our relationships and will never be compromised.
- We are results oriented – not political.
- We are team players – no “egos”. A confrontational style is not appropriate. We value loyalty – to Fairfax and our colleagues.
- We are hardworking but not at the expense of our families.
- We are entrepreneurial. We encourage calculated risk taking. It is all right to fail but we should learn from our mistakes.
- We believe in having fun – at work!
It is essential to our business that each Allied World employee performs his or her duties with honesty and integrity. All directors, officers and employees of Allied World are subject to our Code of Business Conduct and Ethics, and to the Fairfax Code of Business Conduct and Ethics.
Supporting our Environment
In an era where natural disaster risks continue to mount, we believe the strength of certain ecosystems and habitats, such as wetlands and forests, are the most effective way to mitigate risk compared to man-made, engineered approaches. For many years, we have worked with the National Wildlife Federation to research and better understand how these natural systems can be used as a risk mitigation tool to protect people and property, and how to best safeguard natural environments, their wildlife and natural inhabitants. Please read our latest co-authored report for more information.
Allied World is committed to playing our part regarding global climate change. To reduce the impact of thermal coal on our planet, we are aligning our underwriting guidelines with the Paris Agreement. We will generally not provide coverage (i) on risks related to the construction and operation of new coal-fired plants; (ii) to insureds that derive over 30% of their projected revenue from thermal coal mining; or (iii) to insureds that generate more than 30% of their energy production from coal, taking into consideration the alternative energy sources available within the respective territory. Any remaining in-force coverage for insureds that do not meet these thresholds will be phased out by 2024 or sooner, or non-renewed.
Our Risk Management Group has developed online webinars and white papers for brokers, clients and risk managers on the topics of environmental risk and the impact it has on their operations. These resources are available year-round to customers through our Risk Management Portal. These value-added, thought leadership publications cover topics of environmental interest that readers can use to improve their understanding of associated risks and exposures. When customers express additional interest, the Risk Management Group provides additional resources or direct access to environmental subject matter experts as needed to mitigate the frequency and severity of those risks.
Our investment guidelines are developed in conjunction with Fairfax. A commitment to ESG is fundamental to the Fairfax group’s investment analysis and decision-making process. Deficiencies or excessive ESG risks will result in the rejection of investment opportunities or the sale of existing positions. Good governance and the honesty and integrity of management is a fundamental requisite for a potential investment and will never be compromised for short-term gains or benefit.
Please review Fairfax’s latest ESG Performance Report for more information on the investments process.
Supporting our Communities
We give back to our surrounding communities by financially contributing to a broad range of philanthropic organizations, as well as encouraging our staff to volunteer for community service initiatives. We partner with organizations or projects that support social challenges such as food insecurity, homelessness, youth-at-risk and age-concern programs; healthcare needs such as disease research, prevention and support programs; industry education; and environmental solutions that seek to accomplish meaningful change.
Diversity and Inclusion
At Allied World, we strongly believe in cultivating a culture of inclusion, professional collaboration and continuous learning within our global organization. We know that a diverse and engaged workforce will enhance Allied World’s ability to deliver solutions to customers and achieve responsible and sustainable growth. In support of this guiding principle and our business objectives, we strive to foster a workplace that values empowerment, teamwork and performance. We recognize our organization’s culture is enhanced when we embrace unique perspectives to solve our clients’ complex problems and exceed expectations.
To learn more about opportunities at Allied World, please visit our Careers page.