Insurance Brokers

Offering Personal Guarantee Insurance (PGI) enables insurance brokers to provide clients with valuable peace of mind when signing personal guarantees. PGI mitigates this risk by covering a portion of the liability if the business defaults, offering clients financial protection. 

For insurance brokers, PGI adds a unique selling point to their service portfolio. By providing a solution that protects business owners' personal assets, brokers can differentiate themselves in the market, attract more clients and help clients feel more secure in pursuing SME finance. 

Additionally, offering PGI generates commissions, making it financially rewarding for brokers while enhancing their services as well as client satisfaction.

Insurance brokers earn commissions on each client they refer who secures a PGI policy. The commission is based on the policy's net premium, providing revenue each time a client signs up.

Yes, a single PGI policy can cover multiple personal guarantees, provided they pertain to the same business. This feature is beneficial for business owners or directors with multiple loans requiring personal guarantees, as it simplifies their insurance needs. However, specific limits may apply depending on the policy and the necessary level of coverage.

Standard commercial insurance protects the business, and PGI protects the individual behind it. If a director's personal guarantee is called in following insolvency, no standard business policy will cover that personal liability. PGI fills that gap, making it a valuable addition to your existing portfolio.

Yes. We have a straightforward onboarding process for insurance broker partners. You do not need to be authorised to advise on PGI because we handle the full process with your clients. We offer competitive commission terms and dedicated account management support.

Traditional business insurance protects the company. PGI specifically protects the director or owner who has personally guaranteed the company's debt. If the business fails and the guarantee is called in, it is the individual's personal assets home, savings, investments that are at risk. PGI directly addresses that personal exposure.

Yes. Purbeck Insurance Services is authorised and regulated by the Financial Conduct Authority (FCA) and operates as a Managing General Agent on behalf of Markel International Insurance Company Limited, a global A-rated insurer.

Directors of limited companies and LLP partners who have signed personal guarantees, particularly those with significant personal assets, those in higher-risk sectors, and those financing business growth or commercial property. Landlords with buy-to-let mortgage guarantees are also well served by our Buy to Let PGI product.

You earn commission each time a referred client takes out a policy. Because PGI renews annually, there is potential for ongoing commission from policies clients continue to hold. Offering PGI also helps attract new clients and improve retention among existing ones.

Complete the introducer enquiry form on the Purbeck website or contact us directly. Once registered, you will have a dedicated account manager and a simple referral process. We handle all underwriting, policy documentation, and client communication.