Latitude Solutions is your outsourced insurance department, not a regulated insurance broker. Broking services can either be provided by Latitude Brokers on behalf of Latitude Solutions, or by another broker of your choice, or both. If you would like to appoint Latitude Brokers as your Non-Marine broker there is an option to include broking services within[…]
It is your choice. You can either appoint Latitude Brokers to provide placing services on behalf of Latitude Solutions or you can use another broker of your choice, or a combination.
You decide the level of authority that you would like to provide us with. Some clients prefer to agree every decision before it’s made, others don’t have the time or expertise to do so and want us to manage the entire claim. We do not settle claims without our client’s prior approval.
Yes, Latitude Solutions will handle your claims, including those that are not insured or below deductibles. Outsourced claims handling is attractive to those clients who require a first class claims service without the associated fixed costs and investment in staff and senior management time. Cost-effective outsourcing provides an around the clock/around the World claims response ability.
Yes. Our claims service does not just respond to covered claims and those which exceed your insurance policy deductible. It also responds to non-covered claims and claims which fall below deductible. The merits of each claim would need to be reviewed, particularly where very small sums are in dispute.
Yes. Latitude Solutions can work on a No Cure No Pay basis, subject to the merits and nature of the dispute.
C Solutions have senior lawyers in their group and with associate law firms can handle arbitration, litigation and everything in between, including initial advice.
Yes we can and do handle arbitrations worldwide. We have active arbitrators on our staff and we also have our own English law firm through our partnership with C Solutions.
Yes, we will review your operations and businesses and provide our views on other insurances that should be considered, in the same way your insurance department would. We would discuss the risks with you before agreeing on the appointment of a broker to obtain quotes.
The aim of our on-boarding process is to integrate directly with your operations, chartering and technical teams as your in-house insurance department. With your agreement, our on boarding process involves: Office familiarisation with various teams including: Chartering Operations Technical Finance Establishment of communication and reporting channels Collation of insurance information, including:[…]
Yes – we maintain all of your insurance records and provide access to those files directly to you through a dedicated Dropbox account. We set up a Documentation Management System (DMS) for all your insurance documents as well, including matters such as COFRs, Certificates and any other documents your insurance department would usually manage.
We believe an annual contract is a minimum to gain the full benefits of the services.
Yes – we work with you to determine exactly what is required, and tailor our costs to those services and no more.
This is exactly where Latitude Solutions can help. Employing full time staff for a part-time role is costly not just financially but in terms of your management time. Latitude Solutions will tailor our costs to the actual work and time required so you only pay for the work you need, keep your costs low, but[…]
We provide expertise at a cost that is a fraction of the equivalent number of staff required.
Yes. Latitude Solutions provides an ongoing Loss Prevention strategy for our clients using a combination of our in-house expertise as well as the services of insurers, surveyors and technical consultants to implement programmes aimed at reducing the frequency and severity of losses.
Yes. We utilise our Sanctions Checking software to provide sanctions checks.
Yes. Latitude Solutions provides a comprehensive Documentation Management System (DMS) for all your insurance documentation. This is administered externally as part of the outsourcing package and accessible internally within your organisation.
We generally work on a fee basis that will compare favourably with the fixed costs of employees. The more services we provide, the more efficient the cost and the greater the benefit to you.
Latitude Solutions will reduce the management time of working with multiple brokers across the world, by being their point of contact for day to day insurance issues. We manage the claims, maintain claims statistics and agree with you on strategies for renewal, all while maintaining your relationship with your existing brokers.
Yes. Latitude Solutions works with your existing broking channels, but reduces the fixed cost of needing a full in-house insurance department.
Reduce overall insurance cost Improve your claims recoveries Improve protection against claims made by counterparties and third parties. Security of having marine insurance and legal professionals on quasi in-house basis. Neutralise the effects of staff turnover
The Latitude Solutions outsourcing model combines the functions of an insurance department, a legal and claims consultancy and a marine insurance broker. By combining these functions, we bring efficiencies which directly and significantly reduce our clients overheads.