Business & Finance
Business and Finance
Business and Finance
Tue, August 4, 2009
Mon, August 3, 2009 Chubb Group of Insurance Companies: Chubb Manager Advises ABA on Corporate Best Practices for LGBT Equality
CHICAGO, IL--(Marketwire - August 3, 2009) - Speaking before the American Bar Association's Commission on Sexual Orientation and Gender Identity, Michael Daugherty, a vice president and specialty claims litigation manager for the Chubb Group of Insurance Companies, advocated a series of corporate best practices for lesbian, gay, bisexual and transgender (LGBT) equality.
"It's clear that corporate America is far ahead of America generally when it comes to questions of equality for LGBT individuals," said Daugherty. "Corporations are leading the way, becoming more gay friendly, adopting non-discrimination policies and extending benefits to gay couples traditionally provided only for married couples."
The Human Rights Campaign Corporate Equality Index demonstrates a corporate response to LGBT issues that is far more inclusive, comprehensive and embracing than state or federal legislative efforts and judicial opinions. The Index shows that 425 Fortune 500 companies prohibit discrimination based upon sexual orientation and 286 Fortune 500 companies offer domestic partner benefits.
Daugherty cited the strong business case as driving LGBT equality in the workplace. In 2009, the LGBT buying power in the United States alone is expected to be over $712 billion, according to the Williams Institute Study for the June 2008 Gay Business Report.
Daugherty offered the following steps to help corporations effectively commit to LGBT equality:
-- Develop and communicate the business case -- Secure senior executive sponsorship -- Mandate top-down training -- Establish accountability -- Expand LGBT recruitment -- Link diversity to strategic planning and the business model
"At Chubb, 'diversity' includes sexual orientation, gender identity, and 'other perceived differences,'" said Daugherty. "For us, diversity is both a strategic goal and core value. It's an integral component of our company's culture of inclusion. Chubb is committed to supporting the growth and development of a workplace that reflects the diverse society in which we live, as well as that of the customers we serve."
Chubb has earned a top rating of 100% on the Human Rights Campaign Corporate Equality Index since 2004. Offering domestic partnership benefits since 1995 Chubb has an active Gay & Lesbian Employee Network, including bisexual, transgender and straight allies, and is a corporate sponsor of Employment Non-Discrimination Act.
The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb's global network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia.
