As a leading insurance brokerage firm, LMB Insurance (“the Company”) upholds the highest professional standards in confidentiality and compliance when managing client and third-party information and business best practices. We regularly conduct reviews with the insurers with which we place business to ensure that our clients’ policies are held in compliance throughout every step of the policy placement and management process. LMB may choose to contribute to charitable and not-for-profit organizations.
Defining contributions
A contribution, as it relates to this policy, is defined as a willing donation of money to a charitable or not-for-profit organization and includes:
- A payment budgeted as marketing or advertising on behalf of services, events or products sold or offered by a charitable or not-for-profit organization; or
- A payment made indirectly to a charitable or not-for-profit organization on behalf of a client (i.e. a payment made to a client or a client’s event planner to “buy a table” at a dinner the client has organized for fundraising purposes or as a benefit to a charitable organization).
Contributions do not include giving one’s time or conducting pro-bono work or providing other non-financial forms of support to a charitable or not-for-profit organization. All contributions made by LMB to charitable or not-for-profit organizations must be approved according to a process adopted pursuant to this policy.
Any contribution made by LMB must:
- Be consistent with all applicable laws, regulations and government policies;
- Be free of any intent or understanding, express or implied that any business decision will be influenced thereby, and must be unlikely to create the appearance of any such intent or understanding; and
- Must not benefit, or appear to benefit, a government official or any director, manager or employee of a client or supplier.
Conflicts of interest
Conflicts of interest include:
- Any personal benefit in financial, reputational or representational nature within the organization; and
- Any paid or unpaid managerial or supervisory position within the organization.
Family members are defined as:
- A spouse or partner, parent, child or sibling; or
- The spouse or partner of a parent, child or sibling.
All contributions must:
- Be consistent with all applicable laws, regulations, and government policies;
- Be free of any intent or understanding, express or implied, that any business decision will be influenced by way of the contribution; and
- Not benefit or appear to benefit a government official or a director, officer or employee of a client or supplier.
Contribution transparency
All contributions must include:
- The name and location of the recipient organization, the monetary amount intended for donation and the purposes for which the donation will be used or applied by the recipient(s); and
- All proposal, transactional, communication (including email) and tax-related records (including charitable registration number and tax receipts/confirmation of payment). This record retention procedure applies to all approved and denied proposed contributions.
LMB will not make any contribution to:
- An individual;
- A religious or partisan political organization; or
- An organization which due diligence reporting or other information indicates has engaged in conduct which could harm the reputation of LMB Insurance or its clients.