Drax

Michael Scott, Head of Corporate Finance

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“I didn’t know what to expect when I took over responsibility for insurance at Drax and first met Mactavish but they soon put my mind at rest with their expert insight, command of detail and ability to identify areas for improvement. Their ability to challenge brokers and insurers to deliver better was immensely impressive.”

“The strong overall impression of Mactavish when I first started to work with them was of a rigorous controlled process delivered by market leaders. Equally, there was a powerful sense of bringing an ‘expert’ into our organisation to advise on our insurance management requirements.

I was particularly struck by the command of detail and the ability to absorb vast quantities of information and then translate this into a succinct format and recommendations. This expert insight ultimately helped to improve considerably our insurance programme during a renewal cycle.

Of significant value was the sense of true independence of advice which can be difficult to find in the insurance market. This provided both assurance and comfort as did Mactavish’s ability to challenge convention. It was eminently clear that Mactavish knew how both sides of the equation worked – from both the broker and insurer perspective – which gave them the self-confidence to challenge and question from a position of strength on our behalf. Importantly, Mactavish’s independent stance also meant that there was no self-interest underpinning the advice given.

The central component of Mactavish’s support was focused on Drax’s Property Damage and Business Interruption (PDBI) contract wording, this again was of immense value. It was impressive to see Mactavish strengthen, with confidence and expert insight, the terms, mechanics and coverage of the contract. Through detailed analysis and intense negotiation Mactavish consolidated and improved the quality of this key insurance policy.

Supporting projects improved the quality of the PDBI disclosure and assisted with document management. The final element of the project will be the provision of support to assist Drax with insurance obligation compliance.

Having Mactavish on board also gave us the confidence and perspicacity to challenge the overall structure of our insurance programme and the service which the broker provided. Critically, the service also helped with better aligning our overall insurance structure, improving our claims management programme and surprisingly even driving a better fee for Drax. A further benefit was the ability of Mactavish to walk the delicate tightrope between measured, balanced and robust advice while maintaining the engagement of our broker and insurer stakeholder relationships.”

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