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US News Survey reveals scale of sexual harassment at Lloyd’s of London

08:55  24 september  2019
08:55  24 september  2019 Source:   msn.com

Survey reveals scale of sexual harassment at Lloyd’s of London

  Survey reveals scale of sexual harassment at Lloyd’s of London New York marked Batman Day - the annual celebration of the Caped Crusader - by projecting the Bat Signal onto the side of a building in Brooklyn on Saturday night (September 21) 

Nearly 500 workers at insurance market suffered or observed harassment in past year.

Lloyd ’ s of London Chief Executive Officer John Neal condemned what he termed shocking sexual harassment in the insurance industry after a survey showed Lloyd ’ s commissioned the survey after a Bloomberg Businessweek investigation uncovered evidence of endemic sexual harassment at the

a clock on a table: A man at a desk in the Lloyd’s of London building, where 45,000 workers were surveyed about harassment. © Reuters A man at a desk in the Lloyd’s of London building, where 45,000 workers were surveyed about harassment.

The Lloyd’s of London boss has described as “truly terrible” the findings of a survey which showed that nearly 500 people working in the insurance market have either suffered or observed sexual harassment in the past 12 months.

The survey, conducted by the Banking Standards Board on behalf of Lloyd’s after news reports of bullying and harassment, found that “the experience of women is much less positive than it is for men”. Lloyd’s is the world’s biggest and oldest insurance market.

Lloyd’s set up a bullying and harassment helpline in April, after Bloomberg reported evidence from 18 women of widespread sexual harassment ranging from inappropriate remarks to physical assault, and commissioned the survey to gauge the scale of the problems.

Survey reveals scale of sexual harassment at Lloyd’s of London

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Image caption Lloyd ' s of London chief executive John Neal. Lloyd ' s of London has vowed to tackle its male dominated culture after almost one in ten workers said they had witnessed sexual harassment . According to an independent survey , commissioned by the insurance market, 8% of

Lloyd ’ s of London will publicly name and shame anyone it bans from its insurance market for sexual harassment , according to Chief Executive Officer John Neal. Lloyd ’ s also committed to having an independent culture survey taken to identify the scale of the issue.

More than 6,000 people responded to the survey, which was sent out to the 45,000 people who work at Lloyd’s. This includes thousands of brokers and underwriters working for 100 insurers and 300 broking firms, as well as 1,000 staff directly employed by Lloyd’s. Overall, the gender balance is 50-50, although the ratio worsens for more senior roles. Of the corporation’s top leaders, only 34% are women.

Lloyd’s said 8% of respondents to the survey – about 480 people – had either encountered sexual harassment themselves or witnessed it happening to others in the past year.

Lloyd © Press Association Lloyd John Neal, the chief executive, said: “That’s pretty stark and totally unacceptable. The survey is validating in a pretty ugly way the issues that were raised six months ago.” He said he was “both upset and disappointed” at the findings.

Survey reveals scale of sexual harassment at Lloyd’s of London

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Lloyd ’ s of London outlined a plan to address allegations of sexual harassment by setting up an independent whistleblower hotline Plan creates independant whistleblower hotline, culture survey . "We will not accept any form of sexual harassment at all, says Lloyd ’ s of London CEO John Neal.

One of the most prestigious institutions in the City of London has been accused of allowing a deeply entrenched culture of sexual harassment in which women Women who work at Lloyd ’ s of London , a specialist insurance and reinsurance market, claim they were abused and attacked by male bosses

An industry insider described Lloyd’s as a “meat market”, while the shadow City minister Jonathan Reynolds labelled it “institutionally sexist”.

Neal vowed to stamp out the problems within three to five years and said he would “be very disappointed if we didn’t make significant progress in the next 12 months”.

“I am determined that we create a working environment at Lloyd’s where everyone feels safe, valued and respected,” he said. “Cultural change takes time, but we have to accelerate progress and the measures announced today are intended to do just that.”

The report also showed one in five working at Lloyd’s do not believe people have equal opportunities.

More than 20% said they had seen people in their organisation turn a blind eye to inappropriate behaviour, nearly a quarter had observed excessive consumption of alcohol in the Lloyd’s market and a similar number said working at their firms had a negative impact on their health and wellbeing.

Survey reveals scale of sexual harassment at Lloyd’s of London

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Sexual harassment , as women know, is both endemic and widely dismissed. The same patriarchal imbalance of power that allows harassment to Ayesha Ramachandran, a comparative literature professor at Yale University, agrees that sexual harassment in academia is pernicious and difficult to

Lloyd ’ s of London has pledged to bring in a raft of new measures in response to reports of a pervasive culture of sexual harassment at the insurance market. The plan of action includes an independent route for reporting inappropriate behaviour, a market-wide survey on the issue and new training.

In response to the report, Lloyd’s set out further measures to tackle the problems. These include a “gender balance plan” setting clear, measurable targets and new “standards of business conduct”.

Lloyd’s has already threatened lifetime bans for individuals found guilty of improper behaviour, and fines or bans for the firms that employ them.

In recent months it has imposed temporary bans on a number of individuals for being drunk or making inappropriate remarks.

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Female lecturer sexually harassed by male studentsIn the case, the Labour Court has ordered Waterford Institute of Technology (WIT) to pay the €10,000 compensation to Louise Walsh for not doing enough to prevent the sexual harassment of the academic by male agricultural science students.

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