Code of Conduct
This Code of Conduct (Code) outlines the principles, policies and laws that govern the activities of Jubilee General Insurance Company Limited (JGI) and to which the Board members, employees and others who work with the Company, or represent the Company directly or indirectly must adhere. All employees are required to read, understand, sign and follow the Code of Conduct.
It is the employee's responsibility to make oneself familiar with the following and other policies related to their own business unit:
Notwithstanding anything contained hereinunder, every employee will abide by all the laws of the land including Labor Laws where applicable.
- Compliance with law and the legal system is a fundamental principle for Jubilee. Every employee, agent and director shall obey the laws and regulations of the legal systems in letter and spirit within which he / she acts. Regardless of the sanctions foreseen by the law, any director, employee or an agent guilty of a violation will be liable to disciplinary consequences related to such violation.
- An employee must not: (a) steal, embezzle or misappropriate money, funds or anything of value from the Company, doing so shall subject him/her to potential disciplinary action according to the Company policy; (b) use Company assets for personal gain or advantage; (c) remove Company assets from their premises and facilities unless properly authorized by the relevant competent authority; (d) use Company's stationery or corporate documents, Company's brand name for nonofficial purposes since such implies endorsement from Jubilee General.
- Employee shall not commit any act of subversion or misconduct or misbehaviors; and will also not act in any manner, which could be prejudicial or detrimental to the interest of the Company. The Company shall be entitled to dispense with the services of any employee, at any time per the law of his/her employment and/or repeated negligence, disobedience, dishonesty, breach of trust, acts of any other misconduct or subversion without any notice.
- Employees are expected to faithfully and diligently perform their duties, dedicating their full time and attention to the work of the Company. Should an employee wish to engage in any external business or activity that provides reward, remuneration, or benefit, they must inform the HR department and obtain prior approval. Any approved external activity must not interfere with the employee's responsibilities and performance within the Company. If it is determined that the external activity adversely affects their work, the employee will be required to discontinue the external engagement.
- An employee and his/her immediate family shall not derive any benefit or assist others to derive any benefit from the access to and possession of information about the Company, which is not in the public domain and thus constitutes inside information. All the employees are required to comply with the applicable company law on the prevention of insider trading.
- Employees are not permitted to use their jobs to solicit, to demand, accept, obtain or be promised advantages. If an employee receives any gifts, either in cash or kind, exceeding the value of USD 100 from company clients, suppliers, vendors, contractors, or others, such instances should be reported to the Head of Compliance. Any such instance where business judgment is compromised due to these monetary or non-monetary gifts will be considered a violation of this code.
- Respect for personal integrity, privacy and personal right of every individual is a fundamental principle. We work together with individuals of various backgrounds, ethnic types, different cultures, gender, religions, ages and disabilities. The Company believes that diversity in the staff is critical to its success and is fully committed to equal employment opportunity, compliance with fair employment practices and nondiscrimination laws.
- The Company prohibits sexual or any other kind of discrimination, harassment or intimidation, whether committed by or against a supervisor, co-worker, customer, vendor or visitor. Employees are requested to carefully read and understand the Company's Anti-Harassment Policy.
- We compete fairly with the quality and the price of our innovative products and services, not by offering improper benefits to others. No Employee shall give or take bribe or engage in any form of corruption. The Company encourages its employees to come forward who have information of any wrongdoing and report it immediately. Employees are requested to carefully read and understand the Company's Whistle Blowing Policy.
- All employees of the Company have the right to work in a safe working environment and to be treated with dignity and respect. The Company Grievance policy encompasses any employment-related concerns and problems which may affect an individual employee personally and directly and seeks to develop a supportive workplace by providing a transparent and consistent process for resolving grievances. Employees are requested to carefully read and understand the Company's Grievance Policy.
- To enhance workforce diversity and minimize risk, the hiring of relatives (spouse, parents, siblings, and immediate in-laws) is not permitted in the Company for office category positions. Employees are requested to carefully read and understand the Company's Recruitment Policy.
- Jubilee does not make political contributions (donations to politicians, political parties or political organizations). Employees are expected to remain neutral in political matters while employed with the Company. Even if they engage in discussions on political matters or attend council meetings, it must only be in a personal capacity and should not interfere with their work responsibilities. Employees must not actively participate in, assist, or influence political campaigns or elections to legislative or local bodies, whether in Pakistan or elsewhere. Additionally, employees should stay neutral and avoid expressing political opinions on social media. Provided that a Company employee who is qualified to vote at such election may exercise his/her right to vote.
- Jubilee is committed to engaging only with reputable clients and business partners who conduct lawful activities. We strictly prohibit and do not support any form of money laundering.
- It is the duty of Jubilee employees to make business decisions in the best interest of Jubilee Insurance and not based on their personal interest.
- Jubilee employees are obligated to protect all assets of the Company, including intangible assets and software products, and use these properly only for the benefit of the Company. Misappropriation, carelessness or waste of Company assets is a breach of one's duty to the Company and should be avoided at all costs.
- Open and effective communication requires accurate and truthful reporting. Jubilee is required to maintain sound processes and controls so that transactions are executed within approved authorization. Confidentiality is maintained with regard to Jubilee's proprietary information that has not been made known to public.
- All Employees shall avoid, during his/her employment or thereafter, to disclose or divulge to any person whomsoever any information relating to the Company or its customers, suppliers, employees or any confidential information which he/she may have access to while being in the service of the Company. All Employees shall be bound to protect the confidentiality of the non-public information at all times.
- Employees are expected to dress in a manner consistent with the nature of work performed. While at work, all employees are expected to dress neatly and appropriately in normal office as per the Dress code policy of the Company.
- All employees are expected to abide by the personal hygiene requirements. This includes taking care of body odor, bad breath, teeth, nails, ears, eyes, nose, hair, hands, feet and health. All employees must comply with all applicable health and safety policies.
- Selling, manufacturing, distributing, possessing, using or being under the influence of illegal drugs on the job is prohibited.
- No employee other than the authorized personnel is allowed to publish, make speeches, give interviews or make public appearance that are connected to Company's business interests, else an approval is required from the Managing Director & Chief Executive.
- Real or perceived conflicts of Interest in any process or form should be disclosed and avoided. An employee or any of his/her relatives / associates should not derive any undue personal benefit or advantage by virtue of his/her position or relationship with the Company. Any dealings with a related party must be conducted in such a way that no preferential treatment is given and adequate disclosures are made as required by the law and as per the applicable policies of the Company.
The Code of Conduct is subject to variances, modifications, and amendments, from time to time through the resolution of the Board of Directors.
In case of the breach of any of the above 'Code of Conduct', the employee shall be liable to disciplinary action. This shall be without prejudice to any other rights and remedies of the Company. Failure to observe these policies may result in disciplinary action, up to and including immediate termination of employment or any other relationship with the Company.
If an employee has any questions about these policies or would like to report violation of the Code of Conduct, he/she may approach Head of Compliance or Head of Human Resources for further guidance and advice.