Tag Archives: HRC

Pride Round-Up

June is Pride month and our annual round-up of the latest insurance news around the LGBT (lesbian, gay, bisexual and transgender) community must first acknowledge the June 12 tragedy at the Pulse gay nightclub in Orlando, Florida. Some of the insurance implications of the attack are discussed in this Insurance Business Magazine article.

LGBT Financials: In the year since the landmark U.S. Supreme Court decision mandating states must permit same-sex marriages, LGBT households are changing and marriage equality has simplified finances for many, according to the 2016/2017 LGBT Financial Experience survey by Prudential. Commentary from survey respondents suggests this is due to simplified taxes, insurance coverage and estate planning. Despite agreement on the importance of saving for the future, in comparison to the general population, fewer LGBT respondents have retirement accounts, life insurance or a will or estate plan.

Transgender Rights: As discussed in our earlier blog post Where Insurance Meets Transgender Rights, recent federal and state rulings pertaining to the rights of transgender individuals (including laws restricting restroom access) raise a number of issues, and there are potential insurance implications to consider. While this is an evolving area of law and liability for businesses and municipalities everywhere, insurers—and the policies they write—will no doubt be implicated. Businesses need to know what their state or municipality has enacted on this issue and establish a coherent nondiscriminatory policy to minimize their liabilities.

Corporate Equality: A record 407 businesses, including 27 insurers scored 100 percent in the Human Rights Campaign Foundation’s 2016 Corporate Equality Index (CEI) based on their workplace policies, benefits and practices pertinent to lesbian, gay, bisexual, transgender and queer employees. The number of insurers achieving the top ranking has seen a steady increase over the last decade. A total of 851 businesses were rated in the 2016 CEI. Some 165 of the Fortune 500-ranked businesses achieved a 100 percent rating.

Have a safe and Happy Pride!

Insurers Among Top Scorers In Corporate Equality Index

A record number of businesses, spanning nearly every industry and major geographic area of the United States, ranked as top scorers in this year’s Corporate Equality Index released by the Human Rights Campaign Foundation.

When the CEI was launched in 2001, only 13 businesses achieved a top score. This year, a record 252 businesses, including 12 insurers, achieved the top rating of 100 percent.

According to HRC, the results demonstrate that a new normal has arrived:

The policies, benefits and practices businesses must implement to earn a perfect score are best-in-class demonstrations of corporate commitments to LGBT workers.†

The number of insurers achieving the top rating almost doubled to 12, up from seven a year ago.

Insurers receiving the 100 percent rating this year are: AAA Northern California, Nevada and Utah, AIG, Blue Cross Blue Shield of Florida, Chubb Corp, Hartford Financial Services Group, Harvard Pilgrim Health Care, ING North America, MetLife  Nationwide, Progressive Corp, Prudential Financial, and Sun Life Financial.

Aon, Deloitte  and Marsh & McLennan were among other insurance-related businesses to earn the top rating.

The CEI rates employers on a scale from 0 to 100 percent based on their LGBT workplace policies, benefits and practices, including non-discrimination policies and training, partner benefits, transgender inclusive health insurance coverage and LGBT resource groups.

A total of 889 businesses have been rated in the 2013 CEI, including the entire Fortune 500. This year saw the largest growth in the survey’s history with 54 new businesses participating.