Amica Mutual Insurance - 1792 Exchange

Rating Overview

Amica Mutual Insurance is Medium Risk.

Amica Mutual Insurance is Medium Risk. The company often yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. The company occasionally embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues at times. This approach fails to safeguard free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	Medium Risk
Discriminatory Philanthropy	High Risk
Employment Protection	High Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	Lower Risk
Political Actions	Lower Risk

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled 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:

Medium

Rationale:

Amica integrates ESG into its business practices. From its ESG Web Page: “The ESG policies of our investment managers are important, and we have a preference for partners whose values match our own. 57% of our commitments are with managers that have signed onto the United Nations Principles for Responsible Investing, an international organization that works to promote the incorporation of ESG factors into investment decision-making” (1). The company has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (2).

Criteria:

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

Risk Level:

High

Rationale:

Amica will not give to “religious organizations” (1).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

High

Rationale:

Amica offers DEI training to its employees (1). The company appears to prioritize diversity over merit in its recruitment, hiring, and promotions. From its Diversity, Equity, and Inclusion Web Page: “Amica will continue to strengthen our DEI base while exploring new opportunities for the initiative’s further expansion into belonging and equity: Broaden our candidate pools, expand diverse hiring, and increase the promotion and retention of diverse employees” (2). Amica is a signatory of the Institutional Limited Partners Association’s Diversity in Action Initiative, committing itself to specific actions that advance DEI within the governance and policies of the organization and the private equity industry more broadly (3)(4)(5). The company operates a supplier diversity program. “In addition to employee-focused activities, we also have a Supplier Diversity Program. Through this program, we incorporate minority-owned, women-owned, LGBTQ+-owned and service-disabled veteran-owned businesses whenever possible, to ensure our suppliers are representative of our community, customers and employees” (6). Amica does not provide viewpoint protections for its employees (7).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Amica Insurance’s former CEO, Robert A. DiMuccio, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace, strategize on DEI programs/initiatives with other signatories, and engage boards of directors when developing and evaluating DEI strategies (1)(2). The company supports DEI within its business practices, hosting a DEI Committee (3). Amica supports ESG within its business practices. From its ESG Web Page: “at Amica, we’re committed to positively impacting the world by making thoughtful decisions with the planet, people and our business in mind. Our environmental, social and governance initiatives are integral to building a more resilient future for all” (4).

Criteria:

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

Risk Level:

Lower

Rationale:

Amica has not used corporate funds to advance ideological causes, organizations, or policies (1).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

Lower

Rationale:

Amica has not used its PAC donations for ideological purposes and does not engage in lobbying at this time (1)(2)(3).