Re-Insurance

Lloyd’s combats ‘unacceptable behaviour’

  • Culture clean-up: the Lloyd's of London building (Photograph by Chris Ratcliffe/Bloomberg)

Lloyd’s of London announced a new campaign to encourage more people to speak up against “unacceptable behaviour”.

The campaign is part of a programme of measures put in place to “accelerate progress towards a culture of integrity, respect and inclusion” across its market, according to a statement published on Tuesday.

Culture at Lloyd’s was a topic of conversation at the PwC Insurance Summit earlier this month, when Fiona Luck, a non-executive director on the Lloyd’s of London Franchise Board, was among the speakers (see attached video).

The move comes after a survey in September of about 6,000 passholders to the Lloyd’s insurance exchange, which found that only 41 per cent of those who raised a concern said they were listened to or taken seriously, and more than one in five respondents said they had seen people in their organisation turn a blind eye to inappropriate behaviour.

In March, Lloyd’s outlined a plan to address allegations of sexual harassment by setting up an independent whistleblower hotline and laying out potential lifetime bans for inappropriate behaviour.