The Lloyd’s Market Association (LMA) has announced the launch of a charter aimed at improving market culture and fostering an inclusive environment among its stakeholders and communities.

Unanimously approved by the LMA board in July, the charter establishes a behavioural framework aimed at fostering an environment where individuals “feel respected, equal, and comfortable in sharing their opinions, while continuing to encourage innovation and exchange of views in pursuit of market improvement.” It outlines the association’s expectations of its members and guests as they work in the London market and attend LMA events, setting the rules on how the LMA should respond to instances where behaviours fall short of these expectations.

“The LMA and its members believe in inclusive cultures,” said LMA’s CEO Sheila Cameron. “We therefore wish to make unambiguously clear the values and conduct expected of members of the LMA to create a culture that we can all be proud of.  While our market has made significant progress, this is a topic which requires constant and rigorous attention. The London market has and will continue to evolve its culture for the better, and the LMA is determined to make that cultural shift both rapid and permanent.”

The LMA connects thousands of insurance professionals through its committees, groups, panels, and forums, with over 10,000 individuals participating in LMA presentations or academy programmes every year. Training on using the charter will be provided to the chairs and secretaries of LMA’s committees.