(London – Insurance News 360) – On March 26, executives at Lloyds announced a robust plan of action to handle reports of sexual harassment in the market and create an inclusive working environment where employees feel safe.
Working with the Lloyds Market Association, and the London and International Insurance Brokers Association, the Lloyd’s Board and Council developed the wide ranging plan, which includes the following:
- Provision of an independently managed, confidential and market-wide access point for reporting inappropriate behaviors.
- 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 behavior.
This is in addition to the company’s commitment to hearing accounts of women who spoke to Bloomberg, in a safe and confidential space; and making changes to Lloyd’s Nominations Committee to improve diversity. Fiona Luck and Vicky Carter will join the committee immediately, 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 John Neal, CEO of Lloyd’s. “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.”