Lloyd’s Cracks Down on Drinking Culture in Market

April 10, 2019 by

Lloyd’s continues to tighten up its workplace rules by restricting people from entering Lloyd’s premises who are drunk or under the influence of drugs.

The new rule, which was included in a market bulletin issued this week, comes on the heels of a March 26 action plan, designed to address press reports of rampant sexual harassment in the market.

“We are serious about delivering on our commitment to change the culture for the better, ensuring Lloyd’s is a safe and inclusive environment for all our members,” said a Lloyd’s representative. “We haven’t banned drinking, but we have indicated that people entering the building who are deemed to be under the influence will have their passes confiscated.”

The drinking culture within Lloyd’s and the London market is seen by many as driving some of the inappropriate behavior. The Corporation of Lloyd’s made a first move in this direction in February 2017 by prohibiting its employees from drinking alcohol during business hours. There was much grumbling about the move at the time.

However, this didn’t solve the problem of excessive drinking among people who work for brokers and managing agents within the market – those outside the control of the Corporation, which oversees and supports businesses operating at Lloyd’s.

This week’s market bulletin titled “Rules for access to Lloyd’s premises,” aims to cast a wider net by requiring sobriety for all entrants to its buildings. The new rule states that entry passes will be confiscated if a passholder attempts to enter a Lloyd’s building “under the influence of alcohol or any illegal drug.”

The passholder’s Lloyd’s pass then would be returned to the chairman or chief executive officer of the passholder’s company.

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