Steamship has zero tolerance of slavery and human trafficking, and is committed to acting ethically and professionally in its business dealings and relationships and implementing and enforcing effective systems to counter slavery and human trafficking. The presence of slavery or human trafficking in connection with Steamship business or any of Steamship’s supply chains is strictly prohibited.
Steamship specialises in liability insurance for Shipowners and Charterers, and is a member of the International Group of Protection and Indemnity (P&I) Clubs. Steamship’s supply chains include the supply to Steamship of goods and services, and could encompass dealings with, amongst others, external lawyers, on and off site contractors, and IT and office supplies providers. We do not act as a manufacturer or retailer of physical goods and have no supply chain in relation to such activities.
Steamship expects to conduct business in an ethical way – and expects a similarly high level of conduct from third parties with which we do business – and in order to mitigate the risk of modern slavery occurring in relation to Steamship’s business dealings, we have in place practices and policies that protect workers from being abused and exploited in Steamship’s own organisation, and in its global supply chains.
In accordance with our Anti-Slavery Policy and Anti-Slavery Guidelines, our supply chains and those companies with which we have dealings are assessed on an annual basis. Where necessary, further due diligence is carried out into any area of our supply chains or any 3rd party supplier or contractor that is deemed to be of potentially higher risk. Where appropriate contracts with third party suppliers and contractors include contract terms enforcing the obligations of third parties in accordance with the UK Modern Slavery Act and Steamship’s commitment to ethical business dealings. The Anti-Slavery Policy requires an annual report to be reviewed at board level.
We also maintain other relevant internal policies including:
- a Code of Business Standards & Ethics that details our commitment to upholding high standards of professional and moral conduct and appropriate corporate governance in all aspects of our business, and maintains a zero-tolerance approach to all forms of financial crime including bribery and corruption;
- an Outsourcing & Third Party Supplier Policy and Procurement Guidelines, detailing Steamship’s approach towards outsourcing arrangements including the initial selection of, contracting with and monitoring of service providers; and
- a Whistleblowing Policy that sets out the procedures and avenues for the disclosure of information, the integrity and independence of the whistleblowing process, and appropriate protections for anyone wishing to disclose information.
To maintain staff awareness and understanding of Steamship’s ethical and professional approach to business, and of their individual and collective obligations in accordance with the Modern Slavery Act, all staff have been made aware of this statement and the relevant internal policies. Annual reminders will also be provided.
This statement is made pursuant to section 54 of the Modern Slavery Act 2015 and constitutes Steamship’s slavery and human trafficking statement until amended. It was approved by Steamship’s Board of Directors on 24 May 2022, and covers the financial year ending 20th February 2022.
Stephen Martin, Chief Executive Officer
Steamship Mutual Underwriting Association Limited.