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Solicitors

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PGI Information for Solicitors

When signing a personal guarantee, directors and family members can be required to seek independent legal advice.

Personal Guarantee Insurance provides you and your clients with an alternative option when consulting; it’s a fantastic way for you to help protect your clients protect their personal estates.

When being asked for advice concerning personal guarantees, a solicitor’s responsibility should now include making a client aware of the existence of this relatively new form of insurance.

Benefits:

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Provide your clients with an innovative solution when signing a personal guarantee; a solution your clients may not know exists

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Ensure you do your due diligence in protecting a client’s interests

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Commissions available

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Have access to your own dedicated account manager

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Flexibility to work with you directly, or work with your client and keep you informed

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Personal Guarantee Insurance for Solicitors FAQs

How can solicitors use PGI to support their clients?

With Person Guarantee Insurance (PGI), solicitors have an opportunity to offer clients an extra layer of protection. When clients are asked to sign a personal guarantee for a business loan, they’re putting their personal assets on the line. 

By introducing PGI, solicitors can help clients secure their financial future by transferring some of that risk to the insurer. 

Whether it’s for SME finance, asset finance or commercial mortgages, PGI lets clients approach their business ventures with confidence, knowing that their personal assets are safeguarded.

Why should solicitors offer PGI?

When it comes to safeguarding clients' personal and financial well-being, recommending Personal Guarantee Insurance can make a world of difference.

PGI gives clients peace of mind, knowing that their assets, like their property or savings, are protected if the business can’t repay its loan.

By advising clients to take out PGI, you’re not only helping to protect their estates but also demonstrating a high level of care and due diligence.

Additionally, solicitors who introduce clients to PGI can earn commissions, enhancing their service offering while benefiting financially.

Can Purbeck work directly with clients?

Yes, Purbeck work directly with clients, handling everything from assessing their risk to guiding them through insurance policy details. This process ensures that clients receive the specialised support they need to protect their personal assets while solicitors remain informed.

Happy clients who use Purbeck