Cigna 2015 Annual Report Download - page 48

PART I
ITEM 1. Business
SEC and other regulatory authorities continues. We are closely
International Regulations
monitoring how these regulations might impact us; however, the full Our operations outside the United States expose us to laws of multiple
impact may not be known for several years until regulations become jurisdictions and the rules and regulations of various governing bodies
fully effective. and regulators, including those related to financial and other
Depending upon their nature, our investment management activities disclosures, corporate governance, privacy, data protection, data
are subject to U.S. federal securities laws, ERISA and other federal and mining, data transfer, intellectual property, labor and employment,
state laws governing investment related activities. In many cases, the consumer protection, direct-to-consumer communications activities,
investment management activities and investments of individual anti-corruption and anti-money laundering. Foreign laws and rules
insurance companies are subject to regulation by multiple may include requirements that are different from or more stringent
jurisdictions. than similar requirements in the United States.
Our operations in countries outside the United States:
Office of Foreign Assets Control Sanctions and
are subject to local regulations of the jurisdictions in which our
Anti-Money Laundering
subsidiaries conduct business,
We also are subject to regulation by the Office of Foreign Assets
in some cases, are subject to regulations in the locations of
Control of the Department of the Treasury that administers and
customers, and
enforces economic and trade sanctions based on U.S. foreign policy
and national security goals against targeted foreign countries and in all cases, are subject to the FCPA.
regimes. The FCPA prohibits offering, promising, providing or authorizing
Certain of our products are subject to Department of the Treasury others to give anything of value to a foreign government official or
anti-money laundering regulations under the Bank Secrecy Act. employee to obtain or retain business or otherwise secure a business
advantage. In many countries outside of the United States, health care
In addition, we may be subject to similar regulations in non-U.S.
professionals are employed by the government. Violations of the
jurisdictions in which we operate.
FCPA and other anti-corruption laws may result in severe criminal
and civil sanctions as well as other penalties, and the SEC and
Antitrust Regulations
Department of Justice have increased their enforcement activities with
Federal and state antitrust regulators, such as the Department of respect to FCPA. The UK Bribery Act of 2010 applies to all
Justice and state attorneys general, are reviewing the proposed merger companies with a nexus to the United Kingdom. Under this act, any
with Anthem. In addition, our subsidiaries also engage in activities voluntary disclosures of FCPA violations may be shared with United
that may be scrutinized under federal and state antitrust laws and Kingdom authorities, thus potentially exposing companies to liability
regulations. These activities include the administration of strategic and potential penalties in multiple jurisdictions.
alliances with competitors, information sharing with competitors and If our employees or agents fail to comply with applicable laws
provider contracting. governing our international operations, we may face investigations,
prosecutions and other legal proceedings and actions that could result
in civil penalties, administrative remedies and criminal sanctions. See
the Risk Factors section beginning on page 19 for a discussion of risks
related to our global operations.
Miscellaneous
Premiums and fees from CMS represented 21% of our total accept a fixed portion of the business submitted by independent
consolidated revenues for the year ended December 31, 2015 under a brokers and agents, and generally all such business is subject to
number of contracts. We are not dependent on business from one or a approval and acceptance.
few customers. Other than CMS, no one customer accounted for We had approximately 39,300 employees as of December 31, 2015;
10% or more of our consolidated revenues in 2015. We are not 37,200 employees as of December 31, 2014; and 36,500 employees as
dependent on business from one or a few brokers or agents. In of December 31, 2013.
addition, our insurance businesses are generally not committed to
18 CIGNA CORPORATION - 2015 Form 10-K
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