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5 reasons to partner with Purbeck

Posted by Todd Davison on Apr 5, 2019 4:08:00 PM

5 reasons to partner with Purbeck

Personal Guarantee Insurance is a proven solution to business directors’ unease about putting up their personal estate as collateral when taking out a loan.

Ultimately, Personal Guarantee Insurance does what it says on the tin: it provides directors with cover in the event their business becomes insolvent and the  lender calls in their Personal Guarantee.

Available against a wide range of business loans, Purbeck’s Personal Guarantee Insurance product makes it easy for directors to get covered for new or existing Personal Guarantees.

But what’s it like to manage for insurers and finance brokers? And what makes Purbeck the right insurance provider to partner with? Here’s the rundown:

  1. Purbeck is the only PGI provider

Yes, that’s right – we’re currently the only underwriters of Personal Guarantee Insurance in the UK.

Being the only insurer in the market makes for a greater sense of responsibility. We look long and hard at all our applications to try and offer cover where we possibly can.

It also makes us the experts in the field.

  1. Backed by an A-rated insurer

Our policies are backed by a global A-rated insurer in Markel, so you know that you and your customers are in safe hands.

Markel is authorised and regulated by the Financial Conduct Authority and the Prudential Regulatory Authority. Purbeck is a Managing General Agent which has contractual authority to administer and enter into contracts of insurance on behalf of Markel International.

  1. PGI can help you sell more finance

As we’ve already touched on, asking businesses to sign a Personal Guarantee can make them feel uncomfortable enough to walk away from a financial agreement.

Directors are more likely to put their name on the dotted line if you’re able to introduce them to insurance to cover a percentage (up to 80% with Purbeck) of the amount guaranteed.

On top of that, Personal Guarantee Insurance provides a platform to have a borrowing discussion with directors who before wouldn’t have been prepared to consider such an agreement.

  1. Purbeck does all the heavy lifting

We understand that you have enough on your plate without having to think about having to manage insurance policies as well.

So, all you need to do is refer your clients directly to Purbeck and we take care of their rest – arranging their insurance in line with their individual needs and circumstances.

  1. Earn as you go

Finally, the more Personal Guarantee Insurance you sell on behalf of Purbeck, the more money you will earn in commission. It’s only fair.

To learn more about the competitive commissions available or any other part of the service, please contact one of our specialists today on 0208 004 7250.

Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy

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