House Subcommittee Report Highlights Lack Of Diversity In U.S. Insurance Companies (Insurance Law Alert)
10.03.22
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(Article from Insurance Law Alert, September 2022)
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The United States House of Representatives released a report this month that outlines the lack of diversity in the largest property, casualty, and life insurance companies in the United States. The report, prepared by the financial services committee and entitled “Diversity and Inclusion: Holding America’s Largest Insurance Companies Accountable,” is based on data from more than two dozen of the nation’s largest insurance companies. The report concludes that women and people of color are significantly underrepresented in these entities in terms of both employee population and executive positions. The report recommends certain “immediate actions” to promote diversity and inclusion, including the collection of workforce data, pay and equity audits, and the formation of partnerships with minority-centered institutions and universities.