Lloyd's of London [4] has imposed a fine of 1.05 million GBP (1.4 million USD) on one of its members for sexual harassment and intimidation. This is the highest sanction ever imposed by the British market giant.
Atrium Underwriters had tolerated for several years hazing, excessive alcohol consumption and inappropriate comments towards female employees during outings between colleagues and in the presence of two senior executives of the company.
According to Lloyd's, the syndicate member had failed to take the necessary measures to deal with systematic intimidation of a subordinate by one of their employees.
Atrium has also been ordered to bear the costs of the proceedings worth 563.000 GBP (742.417 USD).
Read also | Lloyd's: insurance giant tackles sexual harassment [5]