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Viewpoint: Tough choices after Roe

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U.S. Supreme Court

The U.S. Supreme Court decision to overturn Roe v. Wade leaves businesses and their leadership facing tough choices. Whatever an individual’s point of view may be on the topic of abortion rights, there’s no doubt that CEOs and their boards now find themselves having to navigate some complicated employment and benefits issues and the associated reputational and legal risks.

Following the leak of the draft opinion in early May and after the final Supreme Court ruling on June 24, some companies announced plans to provide expanded travel, lodging and other benefits to their employees seeking access to health care services that they may not be able to obtain in their own state. Others were cautious and remained silent. Still others decided not to publicly share changes to benefit plans but instead communicated directly with their workforce. A good number of financial and professional services companies were among the early responders. Several major insurance brokerages are understood to have sent internal memos to their employees, reassuring them that they would extend health benefits to include travel costs for out-of-state health care, including reproductive procedures.

In recent times, social justice concerns have become a priority for companies to address. Businesses, including brokers and insurers, are increasingly answerable to their employees, policyholders, shareholders and other stakeholders on a range of issues that fall under the environmental, social and governance umbrella. Robust discussions are being had and statements issued on various topics, including climate change, diversity and inclusion, racial justice and workplace conduct.

For example, the widespread protests that followed the killing of George Floyd in police custody in Minneapolis in May 2020 prompted senior executives at companies in numerous sectors, including insurance brokers, to issue statements deploring racism and committing to equality. Many brokers went further and implemented changes at their companies in the months that followed. 

Instances like this show that the insurance industry, like other sectors, can step up not only to support the health and well-being of employees and their families but to lead the way. As companies look to attract diverse talent, the actions they take — or fail to take — on all sorts of difficult topics will be scrutinized. This is particularly true in a case that could so directly influence their ability to hire and retain women and which builds on their diversity, equity and inclusion efforts.

Of course, those actions don’t come without risk. In the case of Roe v. Wade, businesses that take a stance could face a whole host of reputational and legal risks such as possible backlash from customers or employees, problems navigating patchwork state laws and the related political fallout, difficulties maintaining employee privacy and challenges in the form of shareholder proposals regarding reproductive benefits. Staying silent also presents risks. 

There are no easy answers, and, as with other complex issues, companies will need to gauge the reaction of their employees, review their employment policies, closely monitor related laws and regulations, and be ready for possible lawsuits as they grapple with what is the best path forward for their organization and its employees as they look to do what they believe is the right thing.