Slavery and Human Trafficking Statement
Introduction
Modern Slavery and Human Trafficking are crimes that affect communities and individuals across the globe. Compare the Market Limited (the Company) strictly prohibits the use of forced labour and human trafficking in all its operations and global supply chains.
The Company considers it imperative that, as a business, there should be total transparency in our efforts to meet the requirements of the Modern Slavery Act 2015 (the Act).
It is fundamental we conduct our business with honesty, integrity and in accordance with the highest ethical standards, as highlighted in our Company values.
We are committed to the ongoing review of our practices to ensure we continue to meet the requirements of the Act.
Our Business
The Company is part of the BGL Group, a leading digital distributor of insurance and household financial services.
Comparethemarket.com, which operates through the Company, is one of the UK’s leading price comparison sites and offers customers access to a growing range of insurance, money and utility products.
Related Company Policies
We implement and enforce effective systems and controls within the organisation, to safeguard against Modern Slavery and Human Trafficking.
Where risks associated with the Act are identified, these are managed in accordance with the Company’s Risk Management Framework, Diversity & Inclusion Policy, Recruitment Selection and Secondment Policy.
We empower all our colleagues to report wrongdoing and / or the exposure of unethical behaviour, where they become aware of it, through our Speak Up Policy.
Supplier Adherence to our values and Due Diligence Processes
The Company’s employees are employed via an employing group entity BGL Group Limited based in the UK. Employee Relations are managed consistently across the Company by the Human Resources department and all employees are paid at least the National Living Wage.
All new major suppliers undergo onboarding and due diligence processes. These suppliers are required to attest to how they mitigate the risk of Modern Slavery and Human Trafficking in their firm and within their supply chain. We do not rely solely on our supply chain’s commitment to being compliant, with certain contracts giving us the right of audit. We are therefore able to conduct reviews on our third parties that we deem could be susceptible to Modern Slavery and Human Trafficking Risks.
Training
We provide refreshed training to our employees on an annual basis, to raise awareness, and provide a high level of understanding of the risks related to Modern Slavery and human Trafficking.
This statement is made pursuant to Section 54(1) of the Modern Slavery Act 2015 and constitutes the Company’s Slavery and Human Trafficking Statement for the financial year ending 30th June 2024.
This statement has been approved by the Board of Directors of Compare the Market Limited.
Mark Bailie, Director and CEO Compare the Market Limited