Historically obtaining insurance to provide some protection to company directors who have given personal guarantees has not been possible. Whilst taken to tie in the director, the potential financial implications if called upon are not given great consideration until that event occurs.
However, now some of this liability can be covered by insurance. This insurance, new to the market, can be accessed via Commercial Finance Solutions UK Limited through an agreement we have with the provider. Provided the company have given a Debenture &/or asset security and is UK registered then the director will qualify for cover.
The introduction of this insurance does not lessen the importance of the liability and does not cover 100% of the amount guaranteed. However, the insurance can lessen the risk to the director and provide some protection in the event of the guarantee being called up.
For more information on this product and to obtain a quote visit https://www.commercialfs.co.uk/services/
Commercial Finance Solutions UK Limited