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Modern slavery statement
Explanation of slavery and human trafficking, as required under section 54, Part 6, of the Modern Slavery Act 2015 for the fiscal year 2017/2018.
1. Introduction
The Hyperion Insurance Group and its subsidiaries ("the Company") have committed to ensuring that their business is conducted in accordance with relevant laws and support the implementation and promotion of ethical business practices to protect employees from abuse and exploitation. The company has committed to preventing slavery and human trafficking in its business activities and ensuring that its supply chains are free from slavery and human trafficking.
2. Structure of the organization
This explanation covers the activities of the Hyperion Insurance Group, which has its headquarters and 4000 employees in units all over the world.
3. Relevant Policies
The company operates a series of guidelines that mitigate the risk of modern slavery and set out the steps to prevent slavery and human trafficking in its operations.
4.1 Whistleblowing
The company encourages all its employees, customers, and other business partners to report concerns regarding the company's direct activities or supply chains.This closes all changes that can lead to an increased risk of slavery or human trafficking.The company's whistleblowing procedure is designed in such a way that it makes it easy for employees to make disclosures without fear of retaliation.Employees, customers, or other individuals who have concerns can use our confidential helpline.
4.2 Management of the supply chain
The company plays an important role in the insurance distribution chain, but does not have control over a supply chain that is dependent on factories or other facilities that are usually associated with slavery or forced labor.
In general, the contractors and suppliers employed by the group are therefore not susceptible to this risk. However, we are aware that others may not always adhere to the same standards as Hyperion.Consequently, the employees who are responsible for the management of suppliers are responsible, and others who are involved with the group are responsible themselves to ensure that our values and ideals are upheld. This is like before an ongoing process, and we strengthen our controls as soon as new contracts are agreed upon. So, for example, serious violations by suppliers can lead to the termination of the business relationship.
4.3 Recruitment and Selection
The company exclusively relies on specified, reputable employment agencies for the procurement of labor. All companies in the group ensure that adequate controls are in place to ensure that employees have the right to work and are protected by labor legislation. This also includes the verification of documents regarding the right to work, visas, and passports. The company and its affiliated subsidiaries do not employ any individuals who are considered "child laborers". Young and inexperienced workers can indeed be employed or gain work experience, but they are subject to the rights and protections that we grant to all employees.
Regarding the fundamental rights, which we expect, that they belong to all employees.
- The right to a reasonable wage.
- The right to a safe working environment.
- The right to a reasonable amount of vacation and health insurance.
- The freedom to complain directly and free of charge about our Whistleblowing Policy if they believe they are not being treated fairly or have other concerns.
4.4 Politics of social responsibility of companies/non-profit foundation
In the last ten years, Hyperion has supported charitable activities organizations that support the communities in which we live and work, both in Great Britain and internationally, strengthening them. The extent of these efforts has increased with the expansion of our company, and in 2014, the group initiated a new phase of charitable activity with the establishment of the Hyperion Foundation. The Hyperion Foundation was founded in 2014 to provide a focus and impetus for fundraising activities for the employees of the Hyperion Insurance Group.
5. Right to invoice verification
All offices in the group are subject to reg5. Right to regular invoice audits. The core tasks of the audits include the assessment of the fundamental working conditions of our employees and the examination of our ability to monitor the controls conducted by third-party suppliers.
[1] References in this statement to the "Gesetz" (law) are references to the "Modern Slavery Act 2015".