McLarens Modern Slavery Statement

McLarens Modern Slavery Statement: Financial Year 2024 / 2025

This statement has been published in accordance with the requirements of the Modern Slavery Act 2015 and sets out the steps taken by MYI Limited (the “Company” or McLarens) to prevent Modern Slavery and Human Trafficking happening within our business and by our external contractors and suppliers. We review this statement annually.

This statement extends to all our wholly and majority owned entities within the McLarens Group. McLarens recognises the importance of investing responsibly, with sensitivity to environmental and social concerns, this includes avoiding investing in businesses that are known to utilise child or forced labour or maintain unlawful discriminatory employment policies.

Introduction

The Company recognises that Modern Slavery is present in the modern world and is an issue which is increasing, and which is global. McLarens and its employees, together with those who work with and on behalf of the Company, have a responsibility to ensure no form of Slavery or Human Trafficking exists whether within our business or within those companies with whom we choose to partner.

This statement sets out the Company’s commitment to preventing slavery and human trafficking in our business activities and the steps we have put in place with the aim of ensuring that there is no slavery or human trafficking in our own business or in those of our external contractors and suppliers. We all have a duty to be alert to risks, however small. Staff are expected to report their concerns and management are expected to act on them.

Our Business

The Company is a global loss adjusting company, handling claims and managing other risks operating worldwide and has around 2,300 employees.

We will ensure that the way in which we purchase goods, services and facilities and choose our business partners reflects our commitment to equality, diversity and our ethical trading values including the prevention of Slavery and Human Trafficking.

Policies and Controls

In recruitment McLarens has global and region-specific recruitment policies in place to help ensure that:

All recruitment decisions are consistent with our global values
The process is consistently and fairly applied
We act in accordance with the principles in these policies listed below

Our recruitment system has formal approval processes to ensure our policies and procedures are correctly followed. This includes verifying candidates’ identity and evidence to confirm their right to work status and generating contracts that comply with these policies and procedures.

The Company already has several policies and procedures in place designed to ensure that our business, and businesses with which it contracts, are managed ethically and in accordance with all applicable laws. These include polices relating to: Anti-Bribery and Corruption, Anti-Money Laundering, Sanctions, Health & Safety, Data Privacy, a Business Code of Conduct and Whistleblowing. All employees complete online training courses on Anti-Bribery and Anti-Money Laundering annually and are required to sign an annual compliance certificate confirming that they comply with all global policies.

Further, this statement sets out our expectation that our suppliers shall ensure that they do not condone, nor are they involved with, Slavery or Human Trafficking in any form. This also applies to any third-party supplier that is used in providing services or products indirectly to the Company.

Training and Awareness

Raising staff awareness of the Modern Slavery Act is integral to maintaining our standards of expected behaviours.

The Company will ensure that:

Our staff are aware of the Modern Slavery Act; and
Staff are aware of what they should do if they suspect a case of Slavery or Human Trafficking and that they can use the Whistleblowing Policy to report concerns.

Suppliers

Our supply chain includes, but is not limited to:

Goods and service providers / suppliers
Contractors involved in the provision of service for or on behalf of McLarens, and
Contractors involved in the reinstatement of insurance related repair.

We expect our suppliers and potential suppliers to aim for high ethical standards and to operate in an ethical, legally compliant, and professional manner by adhering to our supplier expectations. We also expect our suppliers to promote similar standards in their own supply chain.

We require all our suppliers to complete an annual Modern Slavery Declaration and questionnaire to ensure as far as possible compliance with the requirements under the Modern Slavery Act and other similar legislation in other jurisdiction.

Risk Assessments

We continually assess our exposure and potential exposure to risks and have a control and reporting framework to communicate issues. This includes an assessment of the risk of our operations utilising or being complicit in slavery and trafficking activities. We have assessed that this risk is low.

This statement is made pursuant to Section 54(1) of the Modern Slavery Act 2015 and constitutes our Group’s Slavery and Human Trafficking Statement for the financial year 2024/2025.

This statement also covers the obligations of our companies in Australia, Canada, USA, France, and the Netherlands. Where separate statements are required, these will also be published.

Approved on behalf of: –
The McLarens Group of Companies
Liz Tubb, Group General Counsel