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Responding to misconduct in the Lloyd’s market

16 Mar 2022

Today 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 Lloyd's is treating this issue.

“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.”
John Neal, Lloyd’s CEO

You can find Lloyd’s policy on Business Conduct, and how to report unacceptable behaviour here.

The Notice of Censure can be found here.

1. Lloyd’s Culture Dashboard benchmark tracks the collective progress of the Corporation and market towards a much more inclusive environment. You can view the dashboard here.
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About Lloyd’s
Lloyd’s is the world’s leading marketplace for commercial, corporate and specialty risk solutions. Through the collective intelligence and expertise of the market’s underwriters and brokers, we’re sharing risk to create a braver world. 
The Lloyd’s market offers the resources, capability and insight to develop new and innovative products for customers in any industry, on any scale, in more than 200 territories. 
We’re made up of more than 50 leading insurance companies, over 200 registered Lloyd’s brokers and a global network of over 4,000 local coverholders. Behind the Lloyd’s market is the Corporation: an independent organisation and regulator working to maintain the market's successful reputation and operation.
We’re working to build solutions for the most current and prevalent threats. As Chair of the Insurance Task Force for HRH The Prince of Wales’s Sustainable Markets Initiative, Lloyd’s is bringing the industry together to insure the transition to net zero. Our research community is pooling expertise from across the industry to provide cutting edge insight on systemic risks from climate change to cyber security. 
And through our digital-led strategy, The Future at Lloyd’s, we’re making it easier and cheaper to place, price and process cover in the Lloyd’s market.