Lloyd’s is releasing “a robust plan of action to address reports of sexual harassment in the Lloyd’s market and create a safe and inclusive working environment.” The plan includes possible lifetime bans for perpetrators of sexual harassment.
This set of actions is intended to increase reporting, impose strong sanctions on those found to be responsible for inappropriate behavior, and create better understanding and awareness of the issues, said Lloyd’s. It includes:
- Provision of an independently managed, confidential and marketwide access point for reporting inappropriate behavior.
- 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 marketwide 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 behavior.
These actions are in addition to those already reported, namely:
- A commitment to hear the accounts of the women who contributed to the article published by Bloomberg in a safe and confidential space.
- Changes to 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.
“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 behavior, and if it does happen, everyone has the right to be heard and for those responsible to be held to account,” said Lloyd’s CEO, John Neal. “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.”
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).
*This story ran previously in our sister publication Insurance Journal.