Lloyd’s of London fines Atrium underwriters over $1 million for ‘Boys’ Night Out’ bullying


LONDON, March 16 (Reuters) – Lloyd’s of London (SOLYD.UL) has fined union member Atrium Underwriters more than one million pounds ($1.31 million) for intimidation and harassment, the highest fine it has imposed for misconduct, the Commercial Insurance Market said on Wednesday.

Lloyd’s said in its “censorship notice” that Atrium had failed to take adequate steps to deal with an employee’s “systematic campaign of intimidation against a junior employee over several years” and failed to inform Lloyd’s of the case.

He also said that Atrium, for a number of years until 2018, permitted a “Boys Night Out” in which staff, including two senior managers, “engaged in unprofessional conduct. and inappropriate behavior, including initiation games, heavy drinking and inappropriate and sexualized comments about women”. colleagues, who were both discriminatory and harassing towards female staff members”.

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Two senior executives led some of the driving, Lloyd’s said.

Christopher Stooke, independent non-executive chairman of Atrium, said the company fully accepts the decision and recognizes that it must ensure that such behavior never happens again.

Lloyd’s acts as a marketplace for around 100 insurance syndicates and also has some regulatory powers.

He has previously admitted to problems with sexual harassment and daytime drinking at the market, which employs around 45,000 people, servicing everything from oil rigs to footballers’ legs.

“Discrimination, harassment and bullying have no place at Lloyd’s,” Lloyd’s CEO John Neal said in a statement. “We will not tolerate misconduct in our market.”

Sheila Cameron, CEO of Lloyd’s Market Association, said the trade body would support anyone wishing to report “unacceptable behaviour”.

Atrium was fined £1.05 million and must pay £563,000 in costs, Lloyd’s said.

Atrium reported gross written premiums of £711m last year.

($1 = 0.7645 pounds)

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Reporting by Carolyn Cohn; edited by Barbara Lewis

Our standards: The Thomson Reuters Trust Principles.


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