Provides insurance for individuals (usually Directors) who have given a Personal Guarantee (PG) to a lender in respect of the borrowings of their limited company in the event that when called in the company is unable to repay the whole of the borrowings and the PG is called upon. This type of insurance is the first of its kind to provide protection and advice at the same time..
Personal Guarantee Insurance has been designed to give business owners and directors the confidence to focus on their business’ growth objectives without worrying about personal risk. A Personal Guarantee is an unsecured ‘promise’ from a business owner or director to guarantee that payment for a loan will be made by them in the event that .... Personal guarantee insurance. Because they significantly increase risk for the borrower, personal guarantees can cause enormous stress, and could potentially have disastrous impacts on you and those you care for most. Fortunately, it’s possible to get insurance against the risk that your personal guarantee is called by a lender..
Personal guarantee insurance protection can also help to establish a more even balance of liabilities among directors of a single company. Getting advice on personal guarantee concerns If you are a company director and you’re worried about issues around personal guarantees you’ve given in support of a business finance arrangement of any kind, it’s crucial to get advice from experts in .... We have helped resolve thousands of cases worth over one hundred million pounds in the 11 years, serving businesses throughout the UK. With that experience we are best able to manage the process of dealing with personal guarantees (PG), ensuring business owners and directors remain informed and protected throughout the process.. Offering a PG as assurance for credit can often be the only option..
Personal Guarantee Insurance In an ideal world, you would never have the need to sign a personal guarantee but today you are usually left with little or no option if you are wanting to secure funding for your business to grow. It will be part of the lender’s requirements before funding is provided.. For many years Personal Guarantee Insurance was not available and although we were approached by a number of organisations hopeful of bringing a product to market, it was not until early 2014 that such a new product emerged. It took some time to gain footing but accessibility was good through an online application. Although the product was gaining increasing awareness and traction it was ....