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(Reuters) — Lloyd’s of London has asked the Banking Standards Board to conduct a survey of the insurance market’s 45,000 participants on issues such as honesty and respect to help improve the working environment.
The reputation of the market, which started in Edward Lloyd’s coffee house in 1688 and insures anything from ships to sculptures, has been tarnished by recent allegations of sexual harassment in the workplace. It is stepping up efforts to modernize attitudes.
Lloyd’s has already banned alcohol at its in-house bar before 1600 GMT and threatened life-time bans from its building for bad behavior.
Chief Executive John Neal said the survey would help Lloyd’s to “put in place further measures to build a diverse and inclusive market in which everyone is respected and valued.”
The Banking Standards Board, set up after the Libor rate-rigging scandal to improve behavior in the financial sector, has carried out surveys for banks since 2016 on topics such as honesty, respect and shared purpose.
The Lloyd’s survey was sent out on Monday, a Lloyd’s spokeswoman said.
Lloyd’s of London announced an initiative to prevent sexual harassment five days after a Bloomberg Businessweek article outlined a culture of sexual harassment within the ranks of the exchange.