Advancing Supplier and Governing Board Diversity
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Deadline for submissions is the 15th of every month.
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July 2019 Newsletter Preview
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I. What’s New:
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Independence Day
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Legislative Update
II
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In the Community:
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WBENC National Conference & Business Fair
III. Spotlight on Diversity:
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CVM's 2019 Supplier Diversity Reports
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California State Treasurer Creates Board
Registry for Women
IV. Announcements:
· Executive Education Scholarship Opportunities
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3rd Quarterly Task Force Meeting
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8
th
Annual Insurance Diversity Summit
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Share your Success Story!
V. Diversity Events Calendar – July/August
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CELEBRATING OUR NATION'S BIRTH: HAPPY INDEPENDENCE DAY!
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Fun Facts about the United States Independence Day:
- Observing Independence Day only became commonplace after the War of 1812.
- By the 1870s, the Fourth of July was the most important secular holiday on the calendar.
- Congress passed a law making Independence Day a federal holiday on June 28, 1870.
Present day, Americans commonly show their patriotism by hanging flags, and wearing red, white and blue colors to celebrate Independence Day. Parades, backyard barbecues and fireworks are used to celebrate Independence Day in cities and towns all across the country.
We wish you a fun, safe, and happy Independence Day holiday!
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How Countries Celebrate Independence Day Around The World
(Originally published by Up with People on June 28, 2018)
Throughout the world, countries celebrate their independence through national holidays and other cultural celebrations. From fireworks in the United States to flying kites in India, let’s take a look at how independence day is celebrated around the world.
Bolivia – August 6th
Bolivia throws a two-day party packed with marches, gun salutes, fireworks, music, parades and carnivals. The main event of the celebrations are the military parades on August 6th. The day is a national holiday of Bolivia locally known as Dia de la Patria. The celebrations continue for a full day especially in the capital city of Bolivia ‘La Pez.’
Cambodia – November 9th
Cambodian Independence Day is celebrated with festivals, parades, and firework displays across Cambodia. The main gathering point is Phnom Penh’s Independent Monument, which was built to mark Cambodia’s 1953 liberation from French rule.
India – August 15th
To symbolize its freedom from British rule, saffron, white and emerald-green kites evoking the young country’s tri-colored flag are flown. It is also typical in most parts of the country for a ceremony and unfurling of the national flag.
Norway – May 17th
This day celebrates the signing of the Constitution of Norway. In Norway, children play a special part in the celebration of their independence day. Several children’s parades are held during the day, where the children march with flags and school banners led by marching bands. In the capital city of Oslo, the children will pass the Royal Palace, where the royal family will wave to the parade participants from the balcony. In most cities, local schools arrange games, activities and lotteries with nice prizes, as well as selling cakes, soda, ice cream and candies. In the evening, people gather with family and friends to have dinner or barbeques together.
Mexico – September 16th
In Mexico City people gather at Zocalo, a plaza where people have gathered since the days of the Aztecs. Everywhere in the country streets, houses, buildings and cars are decorated. Flags are hoisted from houses and buildings. Colorful lanterns can be found in most cities. The celebrations reach a high point when the President of Mexico arrives in the Zocalo, at 11 o’clock on September 15 to re-enact Father Hidalgos’ grito, or cry, of Independence to his followers. The President then rings the same bell that Father Hidalgo rang followed by the crowd proudly shouting out the names of the heroes of the independence war and then they end it with a final shout of VIVA MÉXICO! Colorful fireworks light up the Mexican evening sky as the ceremonies end.
Australia – January 26th
Officially known as Australia Day the celebration honors the creation of the first British settlement in Australia. On this day, Australians celebrate with surfing races, ferry races and a tall ships race. Fireworks are also customary in Australia, where they are even lit on moving boats and skyscrapers.
Costa Rica – September 15th
Traditional dancing takes center stage in Costa Rica’s Independence Day celebrations on 15 September. Unlike other countries in the Americas, there was no fight for independence in Central America. Depleted by the war with Napoleon Bonaparte, and a few Latin American wars, Spain actually supported Central American independence because the region had become a burden.
South Korea – March 1st / August 15th
South Korea celebrates its liberation from Japan on two different and important days. August 15 is called Gwangbokjeol, and celebrates South Korea’s independence from Japan and the creation of the South Korean government. The day includes national ceremonies, displaying the flag, and singing the official independence day song called 광복절 노래: Gwangbokjeol Nor. March 1 is called Samil Jeol, and celebrates the independence movement that helped liberate South Korea from the Japanese, and memorializes the men and women lost during the rebellion. To commemorate the day, the Declaration of Independence is read at Pagoda Park (탑골공원) in Seoul.
France – July 14th
July 14th marks the storming of the Bastille prison in Paris, which was the beginning of the French Revolution. Bastille Day is observed as the French National Day, and is celebrated with many different traditions, such as firefighter organized dance parties, military parades, and fireworks.
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Up with People is a global education organization which aims to bring the world together through service and music. The unique combination of international travel, service learning, leadership development and performing arts offers young adults an unparalleled study abroad experience and a pathway to make a difference in the world, one community at a time.
Click here
to learn more about the internationally acclaimed program, Up with People.
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SB 534 Legislative Update
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We are excited to announce that Senate Bill (SB) 534(Bradford) that is sponsored by Commissioner Ricardo Lara was officially passed out of the Assembly Judiciary Committee with 9 ayes; 2 noes; and 1 abstention on June 25, 2019. SB 534 is currently headed to the Assembly Insurance Committee on July 10, 2019.
THANK YOU to all our stakeholders that submitted a letter of support and for your commitment to our mission and to the success of SB 534.
THANK YOU FOR YOUR SUPPORT!
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WBENC National Conference & Business Fair
June 25-27, 2019 | Baltimore, MD
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The National Conference & Business Fair hosted by the
Women’s Business Enterprise National Council (WBENC) is the largest conference of its kind for women business owners in the U.S. The WBENC National Conference & Business Fair is attended by Women’s Business Enterprises (WBEs); senior executives and procurement representatives from the Fortune 500 and the U.S. Government; and select partner organizations whose missions align with WBENC’s vision of expanding women’s business opportunities in the marketplace. This year’s conference held in Baltimore, Maryland dubbed as the “Monumental City” by John Quincy Adams in 1827, focused on the theme of “Ecosystems” which centers on a vision to build and nurture the most healthy and vibrant business ecosystem possible, dedicated to helping women-owned businesses CONNECT, GROW, and THRIVE.
The 2019 WBENC National Conference & Business Fair kicked into high gear on June 25, starting off with ten concurrent Business Labs with countless opportunities to LEARN, COACH, and DO, an engaging Women of Color Development & Outreach Meeting, the first round of WBENCPitch, presented by PepsiCo, and ending with a lovely gathering on the terrace at the evening Welcome Reception. The conference also featured thought leaders, engaging panel discussions, 1:1 MatchMaker sessions, an American Express® Elevator Pitch Booth, and a notable Business Fair. Teams of supplier diversity and procurement professionals from insurance companies such as Cigna, Metropolitan Life, and Kaiser Permanente were on hand during the Business Fair to engage with women business owners and attendees.
We look forward to the 2020 WBENC National Conference that will be held in Atlanta, Georgia in June of next year!
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WBENC's Business Fair featuring Ginger Anderson, Supplier Diversity Manager - Cigna
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SUPPLIER DIVERSITY SPOTLIGHT
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2019 State of Supplier Diversity Reports
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For the third year in a row,
CVM Solutions
launched
two surveys
that aimed to define the supplier diversity industry for both sides involved: the supplier diversity professionals managing and growing their companies’ programs, and the diverse suppliers on the other side of them.
Here are some examples of statistics included in the first report,
State of Supplier Diversity—Supplier Diversity Programs
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53% of supplier diversity programs count small businesses in their diverse spend.
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59% of respondents track Tier 2 spend.
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29% of respondents have a global supplier diversity program.
Here are some of the statistics found in the second report,
State of Supplier Diversity—Diverse Suppliers
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65% of respondents have been in business for 11 or more years.
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71% of respondents said that networking is one of their top three ways to connect with partners.
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89% of minority-owned businesses are certified as such by an appropriate agency.
To obtain a PDF copy and read both of CVM Solutions' full reports, you may visit their
website.
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About CVM – A supplier.io Company
Supplier.io is the leading provider of solutions that enable companies to manage, optimize, and scale their supplier diversity programs. Working as a trusted advisor to the Supplier Diversity community, supplier.io’s mission is to support every program by providing innovative and superior end-to-end Supplier Diversity solutions. Equipped with unparalleled data intelligence, superior technology and expert guidance, supplier.io’s customers can establish and advance their supplier diversity initiatives effectively and strategically.
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GOVERNING BOARD DIVERSITY SPOTLIGHT
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CA State Treasurer Fiona Ma Creates Registry for Women Wanting to Serve on Boards of Publicly Held Corporations
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California State Treasurer Fiona Ma, in an effort to get more women to serve on corporate boards and help corporations comply with a new California law, is launching a registry of potential female board members to share with corporations.
Treasurer Ma is inviting women experienced in banking, public finance, accounting, and executive-level decision-making to join the registry by sending their resumes to her office, if they are interested in serving on a corporate board. She intends to match the resumes to boards that correlate with a person’s skill set.
In 2018, California became the first state to require publicly held corporations to include women on their boards after then-Gov. Jerry Brown signed a bill (SB 826, Jackson/Atkins) into law. Treasurer Ma said that when she meets with the heads of these publicly held corporations, she wants to be able to connect them with qualified women who want to serve on their boards.
“We still have a long way to go to bring gender diversity to our corporate boards. It’s time to shatter that glass ceiling,” said Treasurer Ma. In California, about one-quarter of public companies still have no women on their boards.
In California, about one-quarter of public companies still have no women on their boards.
On July 1, 2019, the Secretary of State will publish a report on its Internet Web site documenting the number of domestic and foreign corporations whose principal executive offices, according to the corporation’s SEC 10-K form, are located in California and who have at least one female director.
By 2021, the companies must have a minimum of two or three women, depending on the size of their boards. Hundreds of companies will be affected by the law and those that fail to comply can be fined $100,000 for a first violation and $300,000 for a second.
Morgan Stanley Capital International, (MSCI) a financial planning firm, did a study in March, 2018 showing that corporations with three or more women on their board of directors and use talented management practices outperformed companies with fewer than three. They had employee productivity 1.2 percentage points above the median in their industries, and a higher average dividend payout ratio and return on equity than companies without three female board members.
France, Germany Norway and other nations have already passed gender diversity requirements for corporate boards. In 2003, Norway passed legislation requiring 40 percent of corporate board members to be women. Before the law, just 9 percent were women. Now 44.2 percent are women.
In signing SB 826, Brown wrote, “as far back as 1886, and before women were even allowed to vote, corporations have been considered persons within the meaning of the Fourteenth Amendment. Given all the special privileges that corporations have enjoyed for so long, it’s high time corporate boards include the people who constitute more than half the ‘persons’ in America.”
Women who are interested in being included in the registry are encouraged to contact Xochilt Becerra at the State Treasurer’s Office. Her phone number is (916) 653-2995 and her email address is
Xochilt.Becerra@treasurer.ca.gov.
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About Fiona Ma & California State Treasurer's Office
Fiona Ma is California’s 34th State Treasurer. She was elected on November 6, 2018 with more votes (7,825,587) than any other candidate for treasurer in the state's history. She is the first woman of color and the first woman Certified Public Accountant (CPA) elected to the position. The State Treasurer’s Office was created in the California Constitution in 1849. It provides financing for schools, roads, housing, recycling and waste management, hospitals, public facilities, and other crucial infrastructure projects that better the lives of residents. California is the world’s fifth-largest economy and Treasurer Ma is the state’s primary banker. Her office processes more than $2 trillion in payments within a typical year. She provides transparency and oversight for the government’s investment portfolio and accounts, as well as for the state’s surplus funds. Treasurer Ma oversees an investment portfolio of more than $96.9 billion, approximately $20 billion of which are local government funds. She serves as agent for sale of all State bonds, and is trustee on over $95.3 billion of outstanding debt.
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The Financial Services Roundtable for Supplier Diversity is happy to announce that we are looking for candidates for the Executive Education Scholarships. We will award scholarships for Dartmouth’s Tuck School of Business, UCLA Anderson School of Management and University of Washington.
Please click the link for more details on the programs:
The deadline for submitting the application is
August 23rd, 2019.
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3rd Quarterly Insurance Diversity Task Force Meeting*
*Quarterly Task Force meetings are open to the public
SAVE THE DATE:
DATE: Thursday, September 12, 2019
TIME: 10:00 AM - 12:00 PM (PST)
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SAVE THE DATE:
8th Annual
Insurance Diversity Summit
San Francisco, CA
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November 15, 2019
Registration Opens Summer 2019
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Do You Have an Insurance Supplier Diversity Success Story?
We Want to Hear from You!
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Do you have NEW or RENEWED Business Relationship/Networking opportunity that has created opportunities for your business within the Insurance Industry?
Do you have NEW or RENEWED Procurement or Contract Opportunity(ies) within the Insurance Industry?
If you said, "Yes," to any of these questions - We Want to Hear from You!
Take 1-2 minutes to share your success story with us. Each step you take towards securing any insurer business for your company is a measure of your success, and we would love to hear about it! Visit
Diversity Success Story Survey
or contact us directly at
diversity@insurance.ca.gov
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DIVERSITY EVENTS CALENDAR:
July & August 2019
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JULY
Hosted by: Leadership Education for Asian Pacifics (LEAP)
July 18, 2019
Los Angeles, CA
Hosted by: Pacific Southwest Minority Supplier Development Council (PSWMSDC)
July 26, 2019
San Diego, CA
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AUGUST
Hosted by: National LGBT Chamber of Commerce (NGLCC)
August 13-16, 2019
Tampa, Florida
Hosted by: California Hispanic Chambers of Commerce (CHCC)
August 21-23, 2019
Stockton, CA
Hosted by: Western Regional Supplier Development Council
August 23, 2019
San Ramon, CA
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To submit a request to add your Supplier Diversity or Governing Board Diversity-related event, please contact us at:
diversity@insurance.ca.gov.
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# # #
The Insurance Diversity Initiative was established in 2011 to address diversity issues within California's $310 billion insurance industry. Specifically, these efforts are meant to increase procurement from California’s diverse suppliers, as well as to increase diversity amongst insurer governing boards. To accomplish these goals, the Department conducts outreach, creates partnerships, hosts events, and most importantly, administers surveys to collect and publicly disseminate information about the state of diversity in the insurance industry.
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INSURANCE DIVERSITY INITIATIVE
Office of Insurance Commissioner Ricardo Lara
California Department of Insurance
(916) 492-3623
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