New York Life Insurance

New York
Insurance

Corprate Bias Ratings

Risk Level:

Rating - Caution
Medium Risk

New York Life Insurance vets vendors according to LGBTQ policies but has not publicly terminated business relationships based on views or beliefs. The company covers the cost of "medically necessary transition-related care" for its employees and their children. The company pledged $2.5 million to BLM and related causes and funds multiple LGBTQ organizations. New York Life Insurance discriminates against some religious organizations in its charitable giving and has donated to the Equality PAC. New York Life is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism. However, the company protects its employees from viewpoint discrimination. For these reasons, New York Life Insurance receives a Medium Risk rating.

Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level
Rationale

New York Life Insurance has not publicly terminated business relationships due to religious beliefs or political views. The company received a score of 100 on the Corporate Equality Index. Among other requirements, this means New York Life has pledged to vet vendors based on LGBTQ policies (1)(2).

Criteria

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level
Rationale

New York Life’s charitable giving guidelines require that organizations abide by its nondiscrimination policy including on the basis of sexual orientation and gender identity, thereby excluding some religious charities (1).

Criteria

Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.

Risk Level
Rationale

New York Life protects its employees against viewpoint discrimination (1).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.

Risk Level
Rationale

New York Life signed an open letter in support of the Equality Act (1). Candriam, an affiliate of New York Life, is part of the Net Zero Asset Managers initiative, committed to carbon neutrality by 2050 (2). CEO Craig DeSanto is a member of the Business Roundtable and Former CEO Ted Mathas signed its 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism over traditional obligations to shareholders and customers (3)(4).

Criteria

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

New York Life has a perfect score on the HRC’s 2022 Corporate Equality Index. This score indicates the company covers the cost of “medically necessary transition-related care” for its employees and their children (1)(2). New York Life pledged a combined $2.5 million to the Black Lives Matter movement and related causes, including the National Urban League and Race Forward (3)(4). New York Life is a brass sponsor of Out & Equal and a corporate partner of the National LGBT Chamber of Commerce (5)(6).

Criteria

Uses corporate political contributions for ideological, non-business purposes.

Risk Level
Rationale

New York Life has donated to the Equality PAC (1)(2)(3).

All links were last accessed and all information was updated on:
November 30, 2023

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