Modern Slavery Statement

In line with the requirements of the Modern Slavery Act 2015 (the ‘Act’), this statement outlines our commitment statement and framework that London & Colonial Assurance PCC Plc (‘LCA’) has in place to prevent any form of modern slavery from occurring within our business operations and supply chain.

What is modern slavery?

Modern slavery, sometimes also known as human trafficking, is an international crime. It is a growing global issue that transcends age, gender and ethnic origins. It includes victims who have been brought from overseas and vulnerable people, who are forced to illegally work against their will across many different industry and service sectors.

Our Commitment

At LCA, we are committed to combating modern slavery in all its forms. We recognise that modern slavery, including human trafficking and forced labour, is a violation of human rights and a global issue that affects many individuals and communities.

Our suppliers are primarily UK based providers of financial services. Due to the nature of our business and suppliers we do not see our business environment as being overly exposed to modern slavery and consider our risk to be very low. However we have robust processes in place to ensure that we work with partners who have culture and values aligned with ours that meet the requirements of the Act.

We uphold the highest ethical standards and expect our partners, suppliers, and employees to share this commitment.

Environment and operating jurisdiction

We are a life insurance company licensed to operate in the UK and Gibraltar and are subject to stringent regulations pertaining to governance, risk management, internal controls, and duty to customers amongst others.

Governance and operational controls

We have policies and procedures in place to ensure good governance and our compliance with regulatory requirements which, by association, support restrictions to the practice of modern slavery in our operating environment. Key elements of which include;

Third Party risk management: We have robust due diligence procedures in place that prevents inappropriate conduct. Any purchasing activity must adhere to all applicable UK, Gibraltar and European laws, directives and regulations.
Employees: LCA’s recruitment and people management processes ensure all employees are legally entitled to work in the respective jurisdiction and safeguarded against abuse, bullying or coercion.
Reporting/Whistleblowing Mechanisms: Reporting channels exist for employees and stakeholders to report any concerns related to modern slavery without fear of retaliation.

Continuous Improvement

We are committed to continuously improving our practices and ensuring transparency in our efforts to eliminate modern slavery. We will regularly review and update this statement to reflect our ongoing commitment and actions.