PRINCIPLES OF GOOD CORPORATE GOVERNANCE

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As for the consequence of an implementation on this issue over the past three years (2007-2009), though the Company had campaigned to have shareholders know their rights in the matter, it appeared that no shareholders had ever nominated a new director for appointment as a Board member or proposed any significant issues that should be put on the agenda of the Company’s shareholders’ annual meeting. 2.3 The Use of Insider Information This has been reported in the section on “Control Over the Use of Insider Information” in “The Management”. 3. The Section on Stakeholders’ Rights The Company is fully cognizant of its stakeholders’ rights and believes that the stakeholders’ support benefits the Company’s good reputation and ability to compete in the market, as well as helping to build up the Company’s profit in the long term. Hence the Company realizes its responsibilities for each stakeholder group that has a different perspective, and has therefore adopted the following practices with the principles of morality and integrity to insure that their rights are always respected: Shareholders The Company is determined to be a good representative of shareholders by taking good care of their benefits and providing them with the greatest satisfaction through high and continuous remuneration. Likewise, all reliable insurance-related business information will be disseminated to them accurately, completely and transparently in conformity with generally accepted standards. Employees The Company will treat its employees at all levels equally on the basis of moral and fairness principles in order to encourage them to work efficiently. All employees are also consistently urged and trained to develop their skills and knowledge necessary to the successful implementation of their work, as well as the generation of the utmost satisfaction for customers. In this respect, various training programmes are offered in conformity with the Company’s business transaction strategies in order to upgrade the employees’ ability to carry out their jobs professionally. The programmes organized are, for instance, insurance training, development of quality management system, human resources management, development of working efficiency, etc. Besides, all levels of employees are encouraged to study or seek new branches of knowledge via the Company’s scholarships and support on conferences with leading domestic and foreign institutions. Similarly, different patterns of learning are created to enable all employees to learn by themselves, which will finally lead to the Company’s knowledge-based culture. The policy on development of the company’s employees, including a budget spent in 2009, is revealed in the annual report presentation form (Form 56-1) under the item “Policy on Employees’ Development”. Apart from fair remuneration, all other welfare schemes are, of course, higher than the requirements of the Ministry of Labour, i.e. providence fund scheme, life and health insurance coverage, 5s and relaxation programs, as well as the maintenance of a good working atmosphere and the protection of employees’ health and safety. 111
Customers The Company offers various quality insurance products according to international standards, providing suitable coverage at a reasonable price, and indemnification made on a fair basis. In addition, customers will be fully advised about the nature of these products, while the Company has specifically established a work unit to receive their complaints and comments. Business Partners The Company treats its business partners fairly in evaluating their performance. These business partners will be given opportunities to comment and propose suggestions concerning any and all joint business issues. To ensure that the rights of business partners are protected, the Company will treat business partners’ secrets as strictly confidential. Competitors While maintaining its accepted professional business standards based on the rules and code of corporate conduct, the Company intends to maintain its position in the market and compete effectively, while refraining from damaging the reputation of any business competitor for its own benefit. The Company emphasizes the quality and efficiency of its services, stressing the greatest benefit to our customers and the standing of the insurance industry as a whole. Creditors The Company is strongly committed to an honest practice and will therefore follow all agreed conditions with its creditors, or find suitable solutions to their mutual benefit. Society and Environment The Company realizes its responsibilities to society and the preservation of the environment. As a consequence, it has supported many activities that benefit the community, such as the development of society through employing disabled labour. It also provides support and assistance to communities jointly with other agencies both in the government and the private sector. For instance, the Company’s management has offered a mobile medical service to treat people in poverty-stricken areas, granted scholarships to poor students, as well as established a fund for the rehabilitation of historical sites, the promotion of careers among community people for their sustainable livelihood, and the preservation of natural resources and development of the environment under the “Unplug” project. All activities and projects have been continuously implemented and effectively carried out. Details of activities performed in 2009 can be viewed on the Company’s website at www.bangkokinsurance.com. 4. Data Disclosure and Transparency The Company’s Board has a policy for the Company to disclose both its financial and non-financial data, as defined by the SEC and SET. Of course, data disclosure focuses on transparency, accuracy, completeness and timelessness, through the channels of the SET, as well as the Company’s annual report and the annual report presentation form (Form 56-1). Additionally, the data is disclosed both in Thai and English via the Company’s website, and always updated for reliability and easy and equal access by shareholders and other related persons. The following is a summary of the significant disclosed data. 112
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PRINCIPLES OF GOOD CORPORATE GOVERNANCE

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