Anti-Bribery and Corruption Policy Statement
QBE Insurance Malaysia Berhad is committed to the fight against financial crime and makes every effort to remain in full compliance with all applicable financial crime compliance laws, regulations, and standards.
QBE’s Anti-Bribery and Corruption Policy (“Policy”) adopted from the group establishes the minimum standards for QBE’s risk management and compliance with applicable anti-bribery and corruption laws and regulations. The Policy applies to all QBE employees, officers, directors, and QBE controlled entities.
Under the Policy:
- QBE will forgo any business that breaches or may breach anti-bribery and corruption laws.
- QBE employees are not permitted to give, offer, promise, accept, request, or authorise a bribe, whether directly or indirectly, or engage in or be an accessory to bribery, corruption, or corrupt practices.
- QBE employees are prohibited from making or supporting any facilitation payments (payments not openly publicised or advertised and typically made directly or through an intermediary for personal gain). QBE will not reimburse any facilitation payments and will report such payments to regulator as required.
- QBE employees will receive mandatory training with additional risk-based training provided as needed.
- All third parties engaged by QBE must refrain from engaging in or facilitating any business activities which could lead to an actual or potential breach of the Policy or applicable anti-bribery and corruption laws and regulations.
- QBE employees must ensure that third party remuneration (including contingent commissions) strictly aligns with customers’ interests and does not create incentives that could result in any conflicts of interest or encourage unnecessary or biased transactions.
- QBE Employees are required to report actual, potential, or suspected issues of bribery or corruption to the Compliance team, or via the Ethics Hotline which also supports reporting by non-QBE employees and anonymous reporting.
Gift and Entertainment Policy Statement
QBE acknowledges that the giving and receiving of gifts and entertainment can be an acceptable business practice, provided these are reasonable, modest, proportionate, and given or received in good faith.
The QBE Gifts and Entertainment Policy (“Policy”) applies to all QBE employees, contractors (including contingent workers) and directors. QBE suppliers and third parties should be informed of the principles and requirements of the Policy, where appropriate.
The Policy outlines the requirements when it comes to the giving or receiving of any gifts and entertainment to and from third parties. All QBE employees are also required to complete any applicable mandatory training.
Under the Policy, all QBE employees are not permitted to offer, promise, request or accept gifts and entertainment where:
- The monetary value, frequency, duration, or nature is likely to cast doubt on QBE or the external party involved or the employee’s integrity, independence, objectivity or judgement;
- The gift or entertainment constitutes a bribe under QBE’s Code of Ethics and Conduct and Anti-Bribery and Corruption Policy; or
- Would otherwise result in a breach of applicable laws.