Lloyd’s Agency in Latvia

About Lloyd’s

Lloyd’s is the world’s specialist insurance market. Unlike many other insurance brands, Lloyd’s is not a company; it’s a market where their members join together as syndicates to insure risks.

What a Lloyd’s Agent does

Lloyd’s Agents are appointed by Lloyd’s to act locally for the Lloyd’s market and for insurers worldwide. In practice that means attending vessels and cargo in the ports of the territory, establishing the nature, cause and extent of loss or damage, and reporting it in the form underwriters and claims handlers work from. The appointment is territorial: Baltic Kontor has held it for Latvia since 1994.

For a shipowner, charterer, insurer or claims handler, the practical effect is a single point of contact in Latvia who is already known to the London market and does not have to be introduced, vetted or briefed on reporting standards before an instruction can be given.

Lloyd’s Agent, managing agent and members’ agent

The three roles are often confused. A managing agent runs a syndicate at Lloyd’s and underwrites risk; a members’ agent advises the members who provide that capital. Both operate inside the market in London. A Lloyd’s Agent underwrites nothing: it works in the field, on the vessel and on the cargo, and its role is survey, investigation and reporting.

Related services

The appointment underpins the work we do for insurers and their clients: marine surveys, cargo surveys and average agency and claims handling. Our other appointments are listed under credentials.