16 March 2022
LMA supports the Lloyd’s Enforcement Board decision
The Lloyd’s Market Association (LMA) supports the decision reached by the Lloyd’s Enforcement Board in response to the three charges of detrimental conduct, which have been accepted by Atrium Underwriters (Atrium) described in Market Bulletin Y5369.
Andrew Brooks, Chairman of the LMA, said: “The judgement by the Lloyd’s Enforcement Board and the penalties levied against Atrium send an unequivocal message: bullying, harassment and other forms of inappropriate behaviour have no place in the Lloyd’s market. We support Lloyd’s for its decisiveness on the matter and the unprecedented level of the fine, which demonstrates the market’s commitment to fostering better cultures. Any individual or organisation which threatens this or condones those who do, must now recognise that there will be severe consequences.
“We applaud those individuals who had the courage to speak up. To stamp out this behaviour, we need people like them who come forward and we need to ensure that we cultivate a supportive environment across the market which encourages anyone who experiences or witnesses bullying, harassment or similar inappropriate conduct to speak up.”
Sheila Cameron, CEO of the LMA, said: “While there clearly remains much work to be done, the market has made significant strides in improving its culture. We now have structures in place to enable individuals to speak out on inappropriate behaviour, safe in the knowledge that they will be taken seriously.
“We strongly encourage anyone who has experienced or witnessed bullying or harassment to report it either through their own internal procedures or to the Lloyd’s confidential Care First Bullying & Harassment line. Further, the LMA will support any individual in the market to report unacceptable behaviour through to the delivery of appropriate consequences.
“We are committed to working with Lloyd’s to improve the culture in the market and welcome the strong stance taken today.”
- ENDS –
Notes to Editors
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About the Lloyd’s Market Association (LMA)
The Lloyd's Market Association (LMA) exists at the very heart of Lloyd's, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. All 51 Lloyd's managing agencies, who write approximately £36 billion of premium per annum, and all Lloyd's members agents, are members of the LMA.
We represent our members' interests to organisations including governments, regulators, and the market's central supporting body, the Corporation of Lloyd's. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd's and the other market associations to influence initiatives and outcomes. We operate the market's most comprehensive technical education service, the LMA Academy. For more information visit: www.lmalloyds.com