London’s centuries-old insurance market is finally banning drugs and drunks.
Lloyd’s of London said Tuesday that it will bar people believed to be drunk or on drugs from its premises. And anyone who attempts to enter its building while under the influence will have his or her security pass confiscated.
It’s not the first time that Lloyd’s has cracked down on daytime drinking.
In 2017, the insurance market banned its employees from drinking during work hours, saying the policy would “remove ambiguity about what’s acceptable.”
But that rule has largely been ignored, according to Bloomberg. It was also limited to Lloyd’s employees, and did not apply to the huge number of brokers employed by other companies that work in the Lloyd’s market.
“We banned drinking during the working day and we believe the people who work for us have embraced that ban,” a Lloyd’s spokesperson said Tuesday. “The insurance culture is changing, though the marketplace as a whole has more work to do.”
The new policy has been implemented following the publication of a Bloomberg report that cataloged rampant sexual harassment at the insurance market, which it described as “the most archaic corner left in global finance.”
Bloomberg reported that much of the harassment of women was fueled by a culture where heavy drinking during work hours remained acceptable long after most London workplaces did away with lunch drinks.
Lloyd’s, which got its start 330 years ago, outlined a plan last month to address complaints of sexual harassment, saying it would conduct a survey to examine the culture and “identify the scale and scope of the issue.”
It also said it would offer employees a confidential place to report inappropriate behavior, and vowed that anyone found to have committed misconduct would face penalties and possibly be banned from entering Lloyd’s.
“The update to rules for accessing Lloyd’s premises is just one part of our wider action plan to stamp out inappropriate behavior in the Lloyd’s market,” a spokesperson told CNN Business on Tuesday.
“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,” the spokesperson added.
Barbara Schönhofer, founder of the Insurance Supper Club, a networking group for women in the sector, said the move was a step in the right direction.
“In an attempt to try and reduce harassment of all forms in the work place we need to identify the behaviors that cause them,” she said. “It has become apparent that alcohol is a leading cause, but not the only [cause] that is driving these behaviors so I can only support Lloyd’s of London in this new code of conduct.”