Individuals with a case to answer face the prospect of a life ban from Lloyd’s
Lloyd’s has today announced its intention to enforce a robust plan of action to address reports of sexual harassment.
The set of actions is intended to increase reporting, impose strong sanctions on those found to be responsible for inappropriate behaviour and create better understanding and awareness of the issues. It includes
- Provision of an independently managed, confidential and market-wide access point for reporting inappropriate behaviour.
- Confirmation that, where investigations conclude that individuals have a case to answer, they will be subject to sanctions from their own companies and also from Lloyd’s. They may be banned from entering Lloyd’s for a fixed period and potentially for life.
- Undertaking an independent and market-wide culture survey to identify the scale and scope of the issue, and to inform further action.
- A comprehensive review of policies and practices across the Lloyd’s market, with a view to identifying and sharing best practice.
- Provision of training focused on prevention, as well as reporting and supporting those who have been subjected to inappropriate behaviour.
Lloyd’s chief executive, John Neal, said: “It has been distressing to hear about the experiences of women in the Lloyd’s market.
“No one should be subjected to this sort of behaviour, and if it does happen, everyone has the right to be heard and for those responsible to be held to account.
“I am pleased that the market has given its full support for a strong set of actions, and I am determined that Lloyd’s offers a safe and inclusive working environment for everyone.”
Lloyd’s had already reported that it was committed to hearing the accounts of the women who contributed to the article published by Bloomberg revealing the culture of sexual harassment.
It also plans to make changes to the Lloyd’s Nominations Committee to increase diversity. Fiona Luck (Lloyd’s Board) and Vicky Carter (Lloyd’s Council) will join the committee with immediate effect, succeeding Sir David Manning and Charles Franks.
The plan has been developed in collaboration with and endorsed by Lloyd’s Board and Council, and by the associations representing the Lloyd’s market – Lloyd’s Market Association (LMA) and the London & International Insurance Brokers Association (LIIBA).
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