This fifth paper in our series on managing environmental, social and governance (ESG) challenges in business transactions is dedicated to the topic of human rights. It focuses on the core functions of the insurance industry – risk transfer and the investment of insurance premiums.

Human rights is a broad and complex topic. This discussion paper only considers exposure to human rights issues resulting from transactions with corporations – the provision of insurance products and services to corporate customers and investments of group assets in corporate bonds and equity.

Furthermore, the purpose of this paper is to build an understanding of why the insurance industry has to bring respect for human rights into its risk management framework and how it can address human rights issues in its business relationships with other corporations.

Finally, this paper is intended to be a basis for discussion between insurance companies and their stakeholders. It aims to help the insurance industry address evolving expectations around its role in respecting human rights and promoting best practice.