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Responding to misconduct in the Lloyd’s market

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Topics: Diversity & Inclusion ESG MGAs Regulation & Compliance

Lloyd’s issued a Notice of Censure in response to misconduct that took place at Atrium, a managing agent in the Lloyd’s market...

The public censure details three charges, to which Atrium has admitted. Lloyd’s has also issued the largest fine ever imposed by the Lloyd’s Enforcement Board of over £1 million. This reflects both how unacceptable these circumstances were, and the seriousness with which Lloyds is treating this issue.

John Neal, Lloyd’s CEO said: “We are deeply disappointed by the behaviour highlighted by this case, and I want to be clear that discrimination, harassment and bullying have no place at Lloyd’s. The robust action we have taken today, including the largest fine ever imposed by the Lloyd’s Enforcement Board, shows that we will not tolerate poor conduct in our market. Lloyd’s expects all participants in the market to meet the highest standards of professionalism, and we are continuing to use our powers to intervene when needed.

Everyone in the Lloyd’s market and Corporation should expect to work in a culture where they feel safe, valued, and respected and if they see unacceptable behaviours, to speak up with confidence, in the knowledge that action will be taken.” 

You can find Lloyd’s policy on Business Conduct, and how to report unacceptable behaviour here: https://www.lloyds.com/future-culture-at-lloyds/speak-up  

The Notice of Censure can be found here.

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