Modern Slavery Statement
Under the Modern Slavery Act 2015 (the Act), commercial organisations operating in the United Kingdom are required to set out, in a publicly available statement, their commitment to comply with the Act and provide information to show the steps taken not only to mitigate the risk of modern slavery occurring within their organisation but also their commitment to considering such risks arising in the wider supply chains.
This statement is made pursuant to section 54 of the Modern Slavery Act 2015. It describes the ongoing commitment of Arrow Risk Management Limited (“Arrow”) to prevent modern slavery and human trafficking from taking place in its business and supply chains.
Organisation Structure & Supply Chains
Organisation Structure
Arrow Risk Management Limited, a Managing General Agent, is regulated by the Financial Conduct Authority (FCA) under Firm Reference Number 945575.
Arrow operates from its registered office at 34 Lime Street, London EC3M 7AT.
Supply Chains
Arrow is committed to ensuring that there is no slavery or human trafficking within its own business and associated supply chains.
As a fully regulated Managing General Agent, Arrow sources insurance business from regulated insurance brokers and places this business with regulated insurers by way of delegated/binding authority agreements.
Certain supporting activities are outsourced to third-party organisations, but only where it makes practical and professional sense to do so.
All such third-party organisations are thoroughly checked ahead of appointment in line with Arrow’s Outsourcing Policy.
Governance
Policies & Procedures
Arrow has a rigorous governance model in place, plus associated controls and appropriate policies, to ensure that all employees conduct their business responsibly and ethically, and in compliance with all applicable laws and regulation, at all times.
Such policies include:
- Consumer Duty (including a Vulnerable Customer Policy)
- Prevention of Financial Crime
- Whistleblowing
- Outsourcing
- Onboarding Producing Brokers
- Onboarding New Employees
Employees/Recruitment
Arrow has recruitment processes in place to ensure that it complies and remains relevant with UK employment laws. Due diligence checks are carried out on all potential employees, part of which is to ensure that they have the right to work in the UK.
Training
All employees receive regular training on Arrow’s policies and procedures, including those that relate to the prevention of modern slavery and human trafficking, and are committed to completing their annual Continual Professional Development (CPD) targets.
For and on behalf of the Board of Directors.
Arrow Risk Management.