7 Insurance Giants Say Social Responsibility Is On Par With Shareholder Value

Joining dozens of CEOs of America’s biggest businesses, these insurance industry leaders acknowledged they are beholden to their communities more than their shareholders.

On Monday, August 19, a group of high-powered American executives published a statement on the role of shareholders in corporate governance that departs sharply from tradition.

The “Statement on the Purpose of a Corporation” put forth by the Business Roundtable asserts that corporations have greater obligations beyond generating profits for shareholders. In short, they are responsible for creating better lives for all their stakeholders.

Here’s a snapshot of what the document says and what implications it has for the insurance industry....