Good Corporate Governance
Human Rights Policy
1. General Requirement
1.1 Purpose
Committed to sustainable business operations, Bangkok Life Assurance Public Company Limited (the Company) upholds human rights, freedom, equality, and diversity, while embracing differences of both internal and external stakeholders in accordance with international human rights principles. The Company shall not take any actions that violate or restrict individual’s rights and freedoms with adherence to international human rights laws and standards. The Company prioritizes fair and transparent operations, respecting the rights of customers, employees, life insurance agents and financial advisors, suppliers, business partners, and communities. This includes upholding labor and human rights in hiring practices and ensuring fair, equal treatment of employees. These commitments are clearly stated in the Company’s code of conduct.
1.2 Scope
This policy applies to Bangkok Life Assurance Public Company Limited, its subsidiaries, both domestic and international, if any, and all groups of stakeholders.
1.3 Effective Date
This policy shall be effective from the date of approval by the Board of Directors.
1.4 Review Frequency and Revision
This policy must be reviewed every year, or whenever there are significant changes requiring review, revision, or improvement.
Any revisions, review, or renewal of this policy must be considered by the Corporate Governance and Sustainability Committee before being submitted to the Board of Directors for approval.
1.5 Responsible Function
The Accounting and Finance Division (Sustainability Management Section) is the responsible function of this policy.
2. Main Requirement
2.1 Definition
| 2.1.1 | “The Company” means Bangkok Life Assurance Public Company Limited. | |
| 2.1.2 | “Subsidiary” means companies in which the Company holds shares directly or indirectly of more than 50%. | |
| 2.1.3 | “Customer” means an individual, a group of individuals, or an organization that purchases products or services from the Company as well as prospects who may purchase products and services from the Company. | |
| 2.1.4 | “Employee” means every employee who operates under employment contracts in any positions as well as job applicants. | |
| 2.1.5 | “Supplier” means an individual, a group of individuals, or an organization that supplies products and services to the Company such as partnered hospitals. | |
| 2.1.6 | “Partner” means an individual, a group of individuals, or an organization that presents and sells products and services of the Company to the customers directly, including life insurance agents, financial advisors, and life insurance brokers. | |
| 2.1.7 | “Community” means a community located nearby the Company. | |
| 2.1.8 | “Human rights” means human dignity, fundamental inherent rights and freedoms, and equality without discrimination on the basis of race, religion, gender, skin color, language, ethnicity, or any other status. | |
| 2.1.9 | “Discrimination” means the unequal treatment and care of individuals, by imposing additional burdens or withholding equal benefits, instead of treating individuals fairly based on their fundamental rights. Discrimination may include abuse. | |
| 2.1.10 | “Abuse” means the expression or action of an undesirable nature, or one generally considered undesirable, towards a person with whom one interacts. Non-sexual abuse may include group condemnation and bullying, while sexual abuse inherently involves a sexual element. | |
| 2.1.11 | “Vulnerable groups” means individuals who lack the ability to protect their rights and interests due to lack of power, education, resources, strength, or other factors, and who are at risk of having their human rights violated. Examples include women, people with disabilities, children, indigenous people, migrant workers, LGBTIQ+ individuals, workers of business partners, business partners, and communities. |
2.2 General Principle
This policy is designed to ensure that the Company's operations comply with the established objectives, laws, and regulations. Therefore, it is deemed appropriate to establish the Human Rights Policy.
2.3 Role, Duty, and Responsibility
| 2.3.1 | The Board of Directors (“BoD”) is responsible for establishing the structure of the Human Rights Policy. | |
| 2.3.2 | The Corporate Governance and Sustainability Committee (“CGS”) is responsible for determining the Human Rights Policy Framework. | |
| 2.3.3 | The Management Committee (“MC”) is responsible for enforcing the Human Rights Policy. | |
| 2.3.4 | The Sustainability Working Group (“SWG”) is responsible for implementing the Human Rights Policy. |
In addition, the policy owner is responsible for ensuring that the relevant divisions and/or departments establishes a procedure to comply with the policy, and the procedure owner is responsible for developing a manual that is in compliance with the procedure.
2.4 Requirement
The Company is committed to conducting its business in accordance with the following key principles.
2.4.1 Respect for Human Rights
The Company will respect the dignity and fundamental rights equally, without discrimination, and will not tolerate any form of human rights violation.
2.4.2 Compliance and Alignment
The Company will comply with all laws and regulations related to human rights in all areas where it operates and will adhere to practices consistent with international principles.
2.4.3 Equality and Non-Discrimination
The Company prioritizes fair treatment of all, without discrimination on the basis of gender, age, skin color, race, nationality, belief, gender expression, religion, culture, language, political view, physical disability, education, marital status, or any other social status.
2.4.4 Fair Labor and Working Conditions
The Company respects labor rights and promotes safe and hygienic working conditions, appropriate compensation, and opportunities for employee development.
2.4.5 Protection of Vulnerable Groups and Children’s Rights
The Company does not support child labor, forced labor, or any violation of the rights of vulnerable groups, and prioritizes the protection of children's rights in all business activities.
2.4.6 Privacy and Data Protection
The Company is committed to protecting the personal data of customers, employees, life insurance agents and financial advisors, suppliers, and business partners in accordance with data security laws and standards.
2.4.7 Responsible Business Conduct
The Company gives due consideration to human rights impacts across the entire value chain, from investment and procurement to service provision and community engagement.
