Lloyd’s of London admits its anti-bully whistleblowing helpline was not available for over a year
Lloyd’s of London admitted that ‘The Speaking Up Helpline’, available to its 1,100 staff, was out of action for 16 months
Lloyd’s of London has been forced to submit to extra checks by the Bank of England after admitting its whistleblowing helpline was not available to staff for almost a year and a half.
The insurance market, which is embroiled in allegations of sexual harassment and bullying, will have to provide an annual update for the next three years about its procedures.
Lloyd’s told the Bank of England in February that ‘The Speaking Up Helpline’, available to its 1,100 staff, was out of action for 16 months.
While there were other ways to raise the alarm, the Bank of England said it had ‘some concerns’ about the firm’s whistleblowing systems and controls.
The market, where brokers and insurers meet to do business, was embroiled in a sexism scandal this year when an investigation revealed female staff were subjected to inappropriate comments as well as physical attacks.
Lloyd’s has set up a system to report harassment.
It said: ‘Employees can feel confident that we now have all the right mechanisms in place for them to report any wrongdoing, and systems are regulatory monitored.’