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CareFirst Recognized for Ethical Practices
Named to Ethisphere Institute’s list of ‘World’s Most Ethical Companies’
Baltimore, MD (March 7, 2013) - CareFirst BlueCross BlueShield (CareFirst) has been recognized by Ethisphere Institute, an international corporate ethics think-tank, as one of the World’s Most Ethical Companies in 2013 for its robust compliance and ethics programs.
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The award, announced today by Ethisphere, highlights CareFirst’s compliance practices, culture of ethical behavior and its place as a leader in corporate social responsibility in the mid-Atlantic and throughout the health insurance industry.
CareFirst, the region’s largest health insurer, is one of two Maryland companies represented on the list of 138 corporations worldwide. It is one of only five health insurance companies to receive the honor that also was awarded to such Fortune 500 companies as Aflac, General Electric, Microsoft and Starbucks.
”We are honored and proud to be among the distinguished companies Ethisphere has recognized as leaders in corporate ethics worldwide,” said Chet Burrell, CareFirst President and CEO. “We take seriously our responsibility to create and maintain a culture of stringent corporate compliance and empower our employees to be our greatest ambassadors in this pursuit. In many ways, the success of our business depends on it.“
When compiling this year’s list, Ethisphere reviewed over 5,000 nominations from companies in more than 100 countries and 36 industries. The methodology for determining the World’s Most Ethical Companies includes:
- Reviewing codes of ethics, litigation and regulatory infraction histories;
- Evaluating investment in innovative and sustainable business practices;
- Looking at activities designed to improve corporate citizenship; and;
- Studying nominations from senior executives, industry peers, suppliers and customers.
More information on the methodology and the complete list of the 2013 World’s Most Ethical Companies is available on Ethisphere’s website.
This isn’t the first time Ethisphere has recognized CareFirst’s compliance and ethics programs. In 2011, CareFirst earned Compliance Leader Verification from Ethisphere for investing necessary resources into the practice of some of the industry’s best compliance and ethics programs.
“We are honored to be recognized as one of the World’s Most Ethical Companies,” said Todd Cioni, CareFirst Vice President and Chief Compliance and Ethics Officer. “This recognition would not be possible without the dedication of our employees who, on a daily basis, demonstrate a commitment to integrity and sound business ethics.”
In its 76th year of service, CareFirst, an independent licensee of the Blue Cross and Blue Shield Association, is a not-for-profit health care company which, through its affiliates and subsidiaries, offers a comprehensive portfolio of health insurance products and administrative services to 3.4 million individuals and groups in Maryland, the District of Columbia and Northern Virginia. In 2012, CareFirst contributed $57 million to community programs designed to increase the accessibility, affordability, safety and quality of health care throughout its market areas. To learn more about CareFirst BlueCross BlueShield, visit our website at www.carefirst.com or follow us on Twitter: http://twitter.com/CareFirst_News.
The research-based Ethisphere® Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. Ethisphere Magazine, which publishes the globally recognized World’s Most Ethical Companies Ranking™, is the quarterly publication of the Institute. Ethisphere provides the only third-party verifications of compliance programs and ethical cultures that include: Ethics Inside® Certification, Compliance Leader Verification™ and Anti-Corruption Program Verification™. The Institute’s premier membership group, the Business Ethics Leadership Alliance™, is a business ethics forum that includes more than 100 leading corporations, universities and institutions that collectively leverage their experience, expertise and innovative ways to address emerging compliance challenges. More information on the Ethisphere Institute, including ranking projects and membership, can be found at http://www.ethisphere.com.