Premera Blue Cross Triumphs with Ethisphere Compliance Recognition
Ethisphere's Compliance Leader Verification recognizes organizations with an outstanding commitment to achieving a best-in-class ethics and compliance program.
Premera Blue Cross, a prominent not-for-profit health plan, has proudly earned Ethisphere's Compliance Leader Verification for an impressive stretch covering the years 2025, 2026, and 2027. This achievement highlights Premera's dedication to exemplary ethical practices and compliance, as assessed by Ethisphere, a renowned authority in ethical business standards.
"We hold ourselves to the highest standards of ethical behavior because we understand that every decision impacts our customers, members, and the communities we serve," shared Sven Peterson, Compliance and Ethics Officer at Premera Blue Cross. His words reflect the organization's commitment to fostering ethical responsibilities throughout its diverse teams.
At Premera, the Compliance and Ethics Committee actively promotes integrating legal, regulatory, and compliance considerations into major business strategies. Part of this initiative involves instilling a culture of ethics across the organization, which includes:
Training and Empowering Leaders
The organization prioritizes training their leaders to recognize ethical risks and encourages decisions driven by core values. By doing so, they aim to create an environment where ethical issues can be addressed head-on.
Employee Engagement
Premera empowers its employees to raise concerns and discuss risks without fear. This openness fosters a more transparent culture, enabling team members to address challenges swiftly and effectively.
Compliance and Ethics Champion Program
A standout feature of Premera's approach is their Compliance and Ethics Champion program, which unites representatives from various divisions for monthly training sessions. This initiative ensures that all employees have the resources and knowledge to discuss ethical practices and compliance within their teams.
Laura Danysh, Senior Ethics and Compliance Advisor at Ethisphere, commended Premera's program, emphasizing its evolution as the organization matures. She acknowledged the strengths within the Regulatory, Ethics, and Compliance team, praising their ongoing investment in training and communication initiatives.
The process of achieving Compliance Leader Verification involves a thorough assessment known as the Ethics Quotient (EQ). This detailed questionnaire evaluates the effectiveness of an organization's ethics and compliance program, benchmarks practices against those of the World's Most Ethical Companies, and includes extensive documentation review and interviews with key executives.
Premera's performance during this evaluation focused on six critical areas: program resources and structure, perceptions of ethical culture, written standards, training and communication, risk assessment, monitoring and auditing, and enforcement. Each of these elements plays a pivotal role in shaping the overall ethical landscape of the organization.
For those interested in understanding more about Premera's dedication to ethics, their Ethics and Integrity page provides further insights into their principles and practices.
About Premera Blue Cross
Premera Blue Cross operates as a not-for-profit, independent licensee of the Blue Cross Blue Shield Association. As a leading health plan in the Pacific Northwest, Premera offers comprehensive health benefits and tailored services to over 2.5 million individuals, including those from Fortune 100 companies. Visit their official website to learn more.
About Ethisphere
Ethisphere is recognized globally for its role in defining ethical business standards that enhance corporate character, marketplace trust, and overall business success. They utilize deep insights to measure and define ethics standards, assisting companies in their ethical journeys. Through various programs and assessments, including the World's Most Ethical Companies recognition, Ethisphere promotes excellence in corporate ethics and leadership.
Frequently Asked Questions
What is Ethisphere's Compliance Leader Verification?
Ethisphere's Compliance Leader Verification acknowledges organizations that demonstrate an exceptional commitment to ethical practices and compliance programs.
Why did Premera Blue Cross receive this recognition?
Premera Blue Cross received the recognition for its outstanding ethics and compliance program, which has been rigorously evaluated by Ethisphere.
What initiatives are involved in Premera’s ethics program?
Premera's ethics program includes training for leaders, employee empowerment, and a dedicated Compliance and Ethics Champion program.
Who evaluated Premera's ethics and compliance program?
The evaluation was conducted by Ethisphere, which reviewed Premera's practices against the World's Most Ethical Companies.
What key areas were assessed during the evaluation?
Key areas include program resources, perceptions of ethical culture, written standards, risk assessment, and enforcement measures.
