Charity Insurance | Social Enterprises | Voluntary Organisations | Community Groups

The Ladbrook Ethical Policy

At Ladbrook we work almost exclusively in the third sector.  We publish our clearly stated ethical policy and ensure that it is a fundamental living part of our organisation.

Our Heritage

Having worked with various Voluntary Sector Organisations since 1993, Martin Ladbrook decided, during 1999 to set up his own company specifically to help assist and answer the needs of various Voluntary Organisations with their insurance requirements.

It was a move not only to fulfil a need but also an opportunity to give years of insurance broking experience to the charitable sector for which there was a definite shortage.

From the very outset, the organisation was engineered to serve charities.  This ethos runs through our organisation and informs our values and strategies. We were born to serve the non profit market.

General Ethical Principles

Build professional reputations on the merit of services and refrain from competing unfairly with others.

Treat with respect and consideration all persons, regardless of race, religion, gender, sexual orientation, maternity, marital or family status, disability, age or national origin.

Demonstrate the highest standards of personal integrity, truthfulness, honesty, and fortitude in all activities in order to inspire confidence and trust.

Our Colleagues: Living Wage, Recruitment and Volunteering Leave

Ladbrook are a living wage employer.  Although we are based in South Yorkshire, all of our colleagues receive remuneration in excess of the London living wage standard.  We believe that supporting the living wage is good for our colleagues, good for society and good for our organisation too.

At interview all employees are informed as to how Ladbrook operates, the type of customers to whom we deal and how we are “different” to other insurance brokers.

Part of our recruitment process is for candidates to demonstrate an empathy for the third sector. In doing so, we create an environment of colleagues passionate about their work with non-profit organisations.

In addition, our full time colleagues can take four days each year as paid volunteering leave, to support any charity of their choice. It is not an entirely selfless act, it helps us understand the non profit sector even better if we get experience of the day to day operations of a charity.

Our colleagues are also encouraged to participate in fundraising wherever possible. Our Managing Director has run marathons for Whizz Kidz and Meningitis Trust and the exploits of other staff can be found on their online profile pages.

We Actively Choose Insurers With an Ethical Stance

As far as possible, we attempt to place the insurance business with those product providers that themselves have an ethical policy or ethical attitudes.

We have a strong relationship with and provide support to such insurance companies such as Ansvar, who are widely recognized for their ethical standards.

Another of our prominent insurers is Aviva who have received praise in ethical consumer reports.

We do, where necessary, use other product providers without strongly stated ethical policies because it is very important, despite our preference, to provide good competitive insurance policies to our Voluntary Sector clients and we do not want to restrict access to products that might be essential to a particular organisation.

We are always delighted to discuss the ethical stance of any insurer we recommend to you.

Treat Customers Fairly

We embrace the Financial Conduct Authority’s (FCA) stance in terms of treating customers fairly.

We have a Treating Customers Fairly Plan which is reviewed on a regular basis. This demonstrates clearly to all including both our colleagues and clients that respect and that the client interest always comes first.

This is included within our Mission and Values Statement which is available for all clients to see.

Donate to Charitable Causes

We regularly, donate to individual charities.

In recent years this has particularly included those charities working with disadvantaged children and also those charities involved in the fight against and assist those affected by drug and alcohol abuse.

We also hold one off donation events. For example, when Ladbrook Insurance celebrated our 10 years of trading we had a monthly draw whereby a donation was made each month to worthy causes.

Not for Profit

We are a private limited company registered with Companies House. However, in our day-to-day working, we, in all other respects, aim to act as if we are a “not for profit” company.

Our philosophy is such that once we have received sufficient income to cover our costs including staff salaries etc then any excess income or “profit” will be distributed to charitable causes.

The income that we receive relates to commissions or a fee earned from policies sold or supplied to Voluntary Sector Organisations and this is kept to modest levels in order to provide insurance products to our Voluntary Sector clients at the lowest possible price.

Provide Free Support to Voluntary Sector Groups

For many years we have offered our services to different Voluntary Sector Groups around the country in terms of providing an input into a seminar or making a specific presentation with regard to the risk or insurance needs of Voluntary Sector Groups.

This has been an attempt to educate and help Voluntary Sector Groups understand their potential insurance requirements. These presentations have proved very successful.

Independent Advice

We are not tied to any one insurer. Neither does any insurer have any ownership in our business.  This is an important facet of demonstrating our independence to you.

We do not allow any inappropriate incentives from insurers that might influence our recommendations to you in any way.

Environmental Policy

While we are a relatively small operation, we recognize that our environmental impact and sustainability are an important part of our ethical policy.

We have introduced our own environmental policy with key aspects targets including:

  • Paper (until paperless), plastic and glass recycling
  • A paperless office
  • Monitoring and reduction in energy usage
  • Incentivisation of non-car usage

Client Privacy

We also have great respect with regard to our client’s privacy. All clients data is protected and we divulge information to third parties only where it is absolutely necessary. We never sell use client data for any other purpose than insurance practice and certainly never sell data to any third party.

Ethical Principles

Our key Ethical Principles:

Honesty: We will not say things that are false. We will never deliberately mislead.

We Keep Promises: We will go to great lengths to keep our commitments. We will not make promises that can’t be kept and we will not make promises unless we have the authority to do so.

Fairness: We will create and follow a process and achieve outcomes that a reasonable person would call just, even handed and non- arbitrary.

Respect for Others: We will be open and direct in our communication, and receptive to influence. We will honour and value the abilities and contributions of others, embracing the responsibility and accountability for our actions in this regard.

Compassion: We will maintain an awareness of the needs of others and act to meet those needs whenever possible. We will also minimize harm whenever possible. We will act in ways that are consistent with our commitment to social responsibility.

Integrity: We will live up to Ladbrook ethical principles, even when confronted by personal, professional and social risks, as well as economic pressures.

Our ethical policy, as with our Treating Customers Fairly Plan and Mission Statement will be constantly monitored and reviewed in order, not only for our customers or clients to understand our attitude and the way we operate, but also for our staff to be kept up to date and remain positive to our ethical attitude and the way treat customers.