LMA calls for sexual harassment in insurance to be hit ‘head on’
Reports of a “deep-seated culture of sexual harassment” in the insurance market have prompted the LMA to say the problem must be hit “head on”.
Eighteen women in the industry confirmed there was an atmosphere of near-persistent harassment in interviews with Bloomberg Businessweek, with one adding: “It’s basically a meat market.”
Harrassment ranges from inappropriate remarks to unwanted touching to sexual assault, but the women who spoke to the media outlet only agreed to share their experinces on condition of anoymity for fear of ruining their careers. They had all reportedly worked at some of the world’s largest insurers and insurance brokers. One female interviewee told of being attacked by a drunk senior manager in a pub close to Lloyd’s but when she complained to her employer she was told it would be bad for her career to pursue it. She reportedly had reorganised her work to spend as little time at the exchange as possible, which the report said was a “common choice among the women of London’s insurance market, and one reason the trading floor at Lloyd’s is a sea of men”.
Women report that bringing legal action against abusers was often impossible due to the high costs of cases and potential career damage.
In response to the reports, Sheila Cameron, LMA CEO, said: “Sexual harassment is simply indefensible in any workplace and all instances should be dealt with swiftly and appropriately.
“We, like all other industries facing this issue, must continue to deal with any reports of harassment, head on. Both victims and witnesses of any form of workplace harassment must be encouraged to come forward. Victims and witnesses must have confidence in the robust and fair processes and procedures put in place by the leaders of their companies, and those leaders have a responsibility to ensure their workplaces are safe from any form of harassment.”
She said that the Lloyd’s and London insurance market has “taken enormous strides to advance the diversity and inclusion agenda”, highlighting the annual Dive In festival, which attracts thousands of market practitioners to participate each year. Cameron also pointed to initiatives such as the Inclusive Behaviours Pledge, which was signed by a large number of insurers, brokers and market associations, as a way to bring changes.
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