As a condition of raising business finance, directors are often required to provide additional security to the lender by signing a personal guarantee thereby placing his or her personal estate at risk. If the business fails the lender can therefore seek recoveries from the director personally.
We have access to an innovative new product that helps to alleviate the effect of this risk – Personal Guarantee Insurance. This annual insurance policy provides directors with cover in the event a business lender calls on the personal guarantee following an insolvency event thereby protecting them from loss of personal wealth.
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