Services

Delegated Authority Due Diligence and Audits

Lutine provide coverholder audit services across the UK and Europe and are able to assist with portfolios which have worldwide exposure and jurisdiction.

Lutine will create a bespoke team for each unique audit. Lutine have a panel of experts in respect of information and communications technology security, European language skills and risk management expertise to assist the core Lutine team with the specific requirements of each audit.

Lutine provide coverholder audit services which comply with Lloyd’s Coverholder audit scope requirements with a focus on testing.

Lutine are also able to provide a desktop audit for smaller coverholders where a complete audit would not provide a cost effective solution, which address core risk areas. Lutine has developed their own TPA audit scope which can be tailored to Insurers’ requirements based upon risk assessments and incorporating any specific areas of concern. Lutine have their own audit appendices for Conduct Risk, FATCA and Control Framework Management Information which include bespoke testing to address these risk areas.

Lutine have provided Lloyd’s coverholder audit services for a number of Lloyd’s Managing Agents and references are available upon request.

Services to Coverholders and TPA’s

Lutine have provided services directly to delegated authorities where they have required assistance to ensure that they are “audit ready” or where they have experienced an audit with recommendations which they require assistance with implementing.

Lutine are happy to work with delegated authorities to assist them with their risk control framework and to ensure they meet Lloyd’s and Insurers minimum standards..

Compliance Management and support

Lutine are able to provide retainer contracts for delegated authorities to provide compliance and risk management expertise and assistance where Lutine does not have a conflict of interest.

Conduct Risk Specialists

Lutine are a conduct risk specialist for the delegated authority sector within the insurance market and are a member of the LMA working group for conduct risk.

Lutine have provided coverholder audit services for a number of significant consumer binding authority contracts and have utilised the team’s extensive experience together with Lutine’s proprietary conduct risk appendix to provide a thorough assessment.

Training

Lutine will create bespoke training modules to meet audit recommendation requirements and to address any weaknesses in knowledge or procedures to allow the client to fulfil their regulatory and compliance needs.

Lutine provide face-to-face training to delegated authorities on subjects including financial crime, Sanctions and Embargoes and Conduct Risk.
Every training programme is tailored to the client’s portfolio of business, structure and procedures to ensure that staff are able to relate to the practical application in their working environment.

Project Management

The team have excellent experience in delivering successful change management projects in the insurance sector and are able to assist with providing structure and management together with a hands-on approach to the project.

Lutine are able to work to PRINCE2 methodology if required and hold the necessary qualifications to do so.