Hartford, Conn. — The Hartford Financial Services Group Inc. was named to Ethisphere’s second-annual World’s Most Ethical Companies list. New York- based Ethisphere, a think-tank dedicated to the research and promotion of profitable best practices in global governance, business ethics, compliance and corporate responsibility named the award winners at the Ethisphere and Forbes joint-conference, “Driving Profit through Ethical Leadership,” in New York City.

“For nearly 200 years, The Hartford has demonstrated an unwavering commitment to integrity and ethical leadership,” says Tom Marra, president and COO of the Hartford, Conn.-based insurer. “The Hartford is honored to be recognized by the Ethisphere Institute as we continue to demonstrate to our employees, customers, investors, business partners and government officials that their trust in The Hartford is well served.”

Over the last few years, The Hartford has engaged in a companywide, systematic effort to build an even stronger, more cohesive ethics and compliance program for its 31,000-employee organization. The expanded program addresses the evolving ethics and compliance standards in the highly regulated financial services industry, and focuses on policies and practices to detect and prevent ethics and compliance-related issues. The comprehensive, risk-based program enhances the company’s ability to understand, assess and address the legal and regulatory risks facing each business area and the enterprise as a whole.

“We applaud The Hartford,” says Alexander Brigham, executive director of Ethisphere Institute. “They are among the companies honored this year because they have developed impressive and meaningful ethical business practices, making them true standouts within their industries. They go well beyond legal minimums, opting instead to bring about innovative ideas that contribute to the public well-being. By their actions, they are forcing their competitors to follow suit, or fall behind and truly embodying the notion that ethical business practices are more profitable in the long run.” 

Researchers and analysts reviewed several thousand companies in order to determine the finalists, which included a multi-step evaluation process. The 2008 World’s Most Ethical Companies methodology committee is comprised of leading attorneys and government officials, professors and leaders who care about ethical and honest business practices. 

The extensive research process included reviewing more than 10,000 of the world’s leading companies on six continents. Ethisphere analysts reviewed codes of ethics, litigation and regulatory infraction histories; evaluated investment in innovation and sustainable business practices; looked at companies’ activities to improve corporate citizenship; studied nominations from senior executives, industry peers, suppliers and customers; and worked with consumer action groups for feedback and rating.

Source: The Hartford

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