In the absence of much more to write about the US presidential election, the most talked-about story to come out of the City of London is the news that, in its 329th year, Lloyd’s of London has imposed a 9-5 drinking ban on its 800 staff.
Founded in 1688, the insurance market acknowledges that the City of London has “historically had a reputation for daytime drinking” but adds that the demands of the modern world means that alcohol is off the lunch menu. The ban applies to Lloyd’s employees and not the brokers and/or underwriters from other companies based in the market.
Many of our international clients have enquired about this. The way they see it, one of the last bastions of face-to-face trading, which includes the odd lunchtime sharpener, has come to an end. Lloyd’s staff found to be in breach of the ban could be dismissed for gross misconduct.
Lloyd’s has explained that it has a duty to be a responsible employer and provide a healthy working environment. The market believes that zero tolerance supports that endeavour and keeps Lloyd’s in line with the modern, global demands for high performance.
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