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At Allianz Partners (AP), which is part of the Allianz Group , we take a zero tolerance approach towards human rights violations and are committed to having an ethical and sustainable supply chain. AP therefore support the Modern Slavery Act and it aims to drive out all forms of modern day slavery and human trafficking from business practices. As such AWP P&C UK and AWPA continually assess the risk of acts of modern slavery, human trafficking or child labour occurring within the scope of the activities carried out by AP operations in the UK.
The nature of the financial services industry limits the exposure of AWP P&C UK and AWPA towards modern forms of slavery, human trafficking or child labour, as the tasks carried out require regular training and often regulatory licenses or specific certifications, which cannot be achieved under the usual circumstances of slavery.
As the financial services industry does not use raw materials or produce goods, the exposure to supply chain risks is relatively limited. Where goods such as stationery or promotional items are ordered, AWP P&C UK and AWPA are obliged to assess the various risks relating to the parties offering these goods. AWP P&C UK and AWPA have carried out a review of, and will continue to monitor new and existing suppliers. To date, to our knowledge, no incidents of modern slavery, human trafficking or child labour have occurred.
AP is committed to a transparent and robust procurement process. Allianz Group entities have a vendor integrity screening programme which looks at various elements such as prevention of corruption, bribery and other forms of non-compliance including modern slavery, human trafficking or child labour.
In addition, a globally accessible Vendor Code of Conduct (VCOC) exists which reflects Allianz’s clear commitment to the UN Global Compact’s Ten Principles (a framework of ten principles in the areas of human rights, labour, the environment and anti-corruption). It requires all suppliers to promote respect for these rights both internally and across their supply chain through their actions and by engaging with governments of the countries in which they operate. The VCOC also seeks to ensure essential Human Rights are maintained and the Standards of the International Labour Organisation are adhered to.
AP also maintains a system of quality assurance and auditing activities which cover the internal controls to ensure the implementation of adequate control for various types of task across the different lines of business.
The principles and values mentioned above are also reflected in the Allianz Code of Conduct for Business Ethics and Compliance (ACOC). The ACOC sets out the minimum standards of behaviour expected from Allianz staff, in order to maintain trust and integrity. Upon commencement of employment with AWPA all staff must confirm that they accept and will adhere to the ACOC. All new joiners are subject to compliance induction training which includes modern slavery and other areas covered by the ACOC. AWP P&C UK and AWPA have published an Anti-Slavery and Human Trafficking Functional Rule accessible and applicable to all staff, which further reinforces our zero-tolerance approach to modern slavery and commitment to acting ethically and with integrity in all our business dealings and relationships.
Whilst the above-mentioned activities are being carried out by AWP P&C UK and AWPA, as a business we continue to look at how we can further mitigate the risk of modern slavery in all its forms in our supply chain, thus ensuring that we are doing everything possible to identify and mitigate such risk.