One in 12 witnessed sexual harassment in Lloyd's insurance market: Survey
Representative image | Lloyd's of London building
Nearlyonein12employees working in theLloyd'sof Londoninsurancemarkethaswitnessedsexualharassmentthere in the past year and a quarter has seen excessive drinking, according to a culturesurveypublished byLloyd'son Tuesday.
Themarket, which employees around 45,000 people ininsuranceand broking firms, is trying to improve standards of behaviour after reports earlier this year ofsexualharassmentand daytime drinking.
According to thesurveyof 6,000, 8 per centof respondents had seensexualharassmentatLloyd'sin the last12months and 24 per cent had seen "excessive consumption of alcohol", while 22 per cent had seen people at their firms ignore inappropriate behaviour.
"I don't think anyonecan deny there is a problem to address here,"Lloyd'sChief Executive John Neal told Reuters by telephone, adding that publishing thesurveyin its "ugly raw fashion" should help bring about change.
Lloyd'shas already introduced sanctions for poor behaviour, including potential life bans on entering its City tower.
It said on Tuesday it was taking further action in response to thesurvey, including introducing a gender balance plan, business conduct requirements and setting up an advisory group chaired byLloyd'sboard member Fiona Luck.
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Sixty per cent of thesurveyrespondents were men and 90 per centof respondents based in London.
Trade body theLloyd'sMarketAssociation (LMA) said it would launch a new CEO network aimed at improving the reporting ofsexualmisconduct in themarketplace after thesurveyrevealed many respondents did not know who to raise concerns with.
The LMA Board, which includes 16 chief executives and other seniormarketleaders fromLloyd'smanaging agents, have committed to receive reports of inappropriate behaviour which will then be dealt with in "absolute confidence."
"With this constructive resolution we make it very clear that LMA Members will take action at the very highest levels," Sheila Cameron, CEO of the LMA said.