Take the Mactavish Health Check
Unprecedented increases in insurance rates, erosion of policy quality, and increases in claims disputes are a few examples of systemic effects of the on-going insurance hard market that continues to expose commercial policyholders to considerable losses.
At Mactavish, we have developed a unique service that simultaneously drives down costs, improves the quality of your cover and takes away the burden of managing insurance. The first step is to take the pulse of your programme today.
Benefits of the Health Check for your business
Since the start of the pandemic, you’ve been working hard to protect your business and to adapt to the new circumstances we now find ourselves in.
What if all that effort was now put at risk because you were in breach of your insurance policies, leaving you without cover for major losses? Could your balance sheet stand the strain, or would you be forced to change your plans – or even close for good?
The Mactavish Health Check is quick, comprehensive and low cost. It will give you an overview of your insurance programme and help answer the questions that keep you awake at night:
- Do you have gaps in your coverage?
- Are your policies reliable and fit for purpose?
- Are you paying too much for your insurance?
- Could you have a valid claim for business interruption losses?
- Have changes to your business as a result of Covid-19 invalidated your coverage?
- Have you communicated all those changes to your insurer?
- Do you know how price rises and cover restrictions in the insurance market will affect your business?
Use case examples of cover flaws uncovered by the Mactavish Health Check
- A number of clients have seen major reductions to their insured limits, or even entire sections of cover removed from their policies, without any such changes being flagged to them (in some cases invalidating their active service contracts)
- An automotive manufacturing company had bought an Excess Liability policy via a broker that excluded goods manufactured or serviced, leaving the client uninsured in the event of their main loss scenario: a loss stemming from the failure of its vehicles
- A firm had been advised that its Management Liability policy did not cover one of its key markets, as a result, they had not made an urgent loss notification to their insurer. As the company was unable to renew its policy on the same terms, this would have left an outstanding uninsured liability
- A business had its Directors and Officers Liability cover arranged in the wrong name to exclude cover for most of its operations
- A Company was not covered for Directors’ and Officers’ insurance, leaving the company’s executives and board members without crucial protection