of behaviour that is expected of all our and other more informal routes. Management
employees. The Group recognises that through take these opportunities to listen to staff and
this conduct we are more likely to achieve involve them in taking the business forward.
business success and therefore create additional
value for shareholders. Hiscox aims for the The community
highest standards of corporate governance while Hiscox donated £768,000 to charities in 2012.
striving to remain, in essence, a non-bureaucratic In 2012 Hiscox Bermuda continued to support
organisation. An effective and firm system of Centre Against Abuse which provides shelter,
internal controls ensures that risks are managed support and tools to those affected by abuse.
within acceptable limits, but not at the expense Hiscox also supports the Women’s Resource
of innovation or speed of response. The Group Centre providing services related to the
believes that we have the balance right and, empowerment of women. Other charities include
furthermore, that this is one of our greatest YouthNet, a school-based mentoring programme,
strengths. The Group’s policies ensure that and The Eliza Dolittle Society Bermuda which
we continue to follow a best practice approach helps feed Bermuda’s hungry. Other support
to managing people and remain a fair and was provided to Kaleidoscope Arts Foundation,
professional employer. In the unlikely event of dedicated to teaching art to children, Friends
an employee having a serious concern relating to of Hospice’s Agape House which is Bermuda’s
the operations of the business, a whistleblowing only in-patient palliative care facility and SCARS
policy explains to staff how they can confidentially (Saving Children and Revealing Secrets) whose
raise their misgivings. Hiscox also subscribes to mission is to reduce the risk of child abuse.
Public Concern at Work, which provides free legal Hiscox USA also gives priority to charitable
advice to any employee with a concern about endeavours and staff are actively involved in the
possible danger or malpractice in the workplace. San Francisco Make-A-Wish Foundation. Staff
also volunteered time and money to aid victims
Hiscox wants to employ the best people and of Superstorm Sandy. Dozens of Hiscox USA
provide them with the means and the motivation employees participated in charity bike rides in
to excel. This is achieved with fair rewards and California and Pennsylvania, raising over $25,000
by providing staff with an environment in which for cancer research and prevention as part of the
they can enjoy their work and reach their full Livestrong initiative. In London, staff supported
potential. Hiscox recognises how important pupils at the Elizabeth Selby Infants School in
it is for employees to maintain a healthy work/life Tower Hamlets through the Reading Partners’
balance and it gives them the option of flexible Scheme and have volunteered in the gardens of
and home working wherever possible. Richard House Children’s Hospice. In Colchester,
staff raised £23,000 for Headway.
Equal opportunities
Hiscox is committed to providing equal Supporting the arts, science and technology
opportunities to all employees and potential Hiscox continues to sponsor the Whitechapel
employees in all aspects of employment, Gallery’s collections programme and was
regardless of disability, sex, race, religion, a major sponsor of the 2012 Serpentine Gallery
sexual inclination or background. Pavilion in Kensington Gardens. For the second
year running, Hiscox supplied a bursary for
Rewards and benefits two students of The Royal Academy of Art
Hiscox encourages employees to share in in London. Hiscox continues to support the
the success of the Group through performance Bermuda Masterworks Foundation, which aims
related pay: bonus, savings-related share option to repatriate artworks by Bermudian artists
schemes and executive share option schemes. or featuring Bermuda landscapes/seascapes.
Competitive benefits packages contain health Hiscox supports The Royal Institution (RI) with
and fitness perks and opportunities for flexible a loan and corporate sponsorship. The RI is the
working and career breaks. Towers Watson oldest independent research body in the world
benchmarks our salary packages against and has been dedicated to connecting people
the financial services industry as a whole and with the world of science for over 200 years. In
against the Lloyd’s market specifically (where September 2012 Hiscox became the title sponsor
applicable) and our salaries are also considered of The Sunday Times Hiscox Tech Track 100,
on a country-by-country basis. charting the fastest growing private technology,
telecoms and digital media companies.
Training and development
Hiscox is committed to training and developing The Hiscox Foundation
our employees to help them maximise their The Hiscox Foundation is a charity funded
potential. Each permanent member of staff is by an annual contribution from Hiscox to give
provided with a tailored personal development donations to deserving causes. It gives priority
programme. Their training and development to any charity in which a member of staff is
needs are reviewed twice a year, as well as their involved, with the aim of encouraging and
performance against clearly set objectives. developing employees to become involved in
charitable work. The foundation has supported
For more detail Communication and participation the Humanitarian Aid Relief Trust with a further
on corporate Employees are kept informed of business £30,000. HART helps some of the poorest
responsibility developments through formal briefings, team and most abused people in the world.
see hiscox.com meetings, intranet bulletins, video conferences
Corporate responsibility Hiscox Ltd Report and Accounts 2012 29