Lloyd’s Chairman Bruce Carnegie-Brown has said that two or three cases of serious misconduct in the insurance and reinsurance marketplace could emerge by next week, according to reports from City A.M.
Speaking to the publication at the City Week conference in London, Carnegie Brown revealed that there were “two or three quite big live issues out there at the moment,” which fall under the categories of “harassment and sexual activity and bullying.”
He added that Lloyd’s had to “give the companies who are the direct employers of the individuals a chance to investigate them,” after which Lloyd’s itself would “have a chance to review them.”
Lloyd’s outlined a new plan in March to promote a more safe and inclusive working environment following numerous reports of sexual harassment in the market.
The plan includes sanctions such as a potential lifetime ban from Lloyd’s, as well as efforts to support further reporting of inappropriate behaviour, and a market-wide culture survey.
Lloyd’s has also clamped down alcohol consumption in the market, which it believes has fuelled the issue, by banning inebriated passholders from entering its building.
“Bad behaviour and drinking have a pretty close correlation,” Carnegie-Brown told City A.M. “The corporation itself for its own employees has had a ban on alcohol during working hours for three years now, and we’ve tried to extend that to anybody coming into the marketplace to do business.”
However, the Chairman also expressed concerns that cultural change at Lloyd’s was “not moving fast enough.”
“We’ve got to be getting on top of these issues so people do want to come and work for us and with us,” he warned.
