Lloyd's to tackle 'distressing' sexual harassment claims with possible lifetime bans

Specialist insurance and reinsurance market Lloyd's of London has outlined a new "plan of action" to address reports of sexual harassment in the market and create a safe and inclusive working environment.

The initiative 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 the provision of an independently managed, confidential access point for reporting inappropriate behaviour, as well as training focused on prevention.

Lloyd's will also undertake an independent and market-wide culture survey to identify the scale and scope of the issue; and conduct a comprehensive review of policies and practices across the Lloyd’s market, with a view to identifying and sharing best practice.

Furthermore, individuals found to be at fault 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.

Lloyd's has also made changes to its nominations committee to increase diversity. Fiona Luck (Lloyd’s Board) and Vicky Carter (Lloyd’s Council) will join the committee with immediate effect, succeeding David Manning and Charles Franks.

The new 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).

Lloyd’s CEO 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.”

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