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Innocent Drinks

We had been with our existing broker since the company started, but MRIB were appointed because they showed an innovative and interesting approach to risk management which made them a good match for a dynamic and progressive company such as ourselves.”

– Alison Wilson, Group Financial Controller

In 2009, Coca-Cola took a 20% stake in Innocent. The £30m investment was earmarked to take the business to the “next level of success” in innovation and expansion in Europe. The remit for the new management team was to take control of the £200m turnover company. Given MRIB’s experience working with large companies post acquisition, we stepped in and offered our support.

We undertook a detailed review of their business and operations, assessing the nature of the risks involved and the existing policies they had in place. We wanted to ensure that they were adequately protected – not over or underinsured – and not paying too much for their coverage.

Given Innocent’s strong brand and reputation, we viewed this as a key area for protection. We then looked at their operations. Research revealed that they sub-contract production to a number of different manufacturers. Without adequate supplier protection, if there was an issue such as a fire at one of their manufacturers that forced them to cease production, it could cause a major disruption. We researched the market and provided a list of insurers that specialize in protecting against this type of risk.

Their existing programme had £42m protection for a commercial office asset. Given the office is not involved in the manufacturing process, and would have little impact on distribution should anything go wrong, we explored adding supplier extensions to the policy. This would protect against any disruptions to manufacturing. The cost impact of this change in coverage was minimal, but will have a massive impact on the business should anything go wrong.

Innocent are now working with us on an ongoing basis to support all of their corporate insurance needs. They like the fact that we have detailed technical expertise but are able to explain concepts in layman’s terms. They take comfort in knowing that they understand the risks involved in their business and what would/wouldn’t be covered in different scenarios, and also like knowing they’re not paying too much for their cover.