Purbeck Personal Guarantee Insurance launches broker portal
Purbeck Personal Guarantee Insurance has launched a broker portal for commercial finance and insurance brokers.
The Purbeck Personal Guarantee Insurance Portal gives brokers a real-time view of personal guarantee insurance applications, policies and commission statements for small- and medium-sized enterprise (SME) clients and prospects through a log-in into the Purbeck website.
Read more: 70pc of start-ups seeking new finance in 2021
Read more: £2.1bn of CBILS loans were backed by personal guarantees
“We expect to see a rise in the number of business loans where a personal guarantee is required as the government’s Covid-19 support measures ease back,” said Todd Davison, managing director of Purbeck Personal Guarantee Insurance.
“At the same time there has been a record number of new business creations in the first quarter of 2021.
“The Purbeck Broker Portal will help brokers capitalise on these dynamics with minimal administration.
“As introducers to our unique insurance cover for business owners and directors, they can give clients an opportunity to reduce the risk to their personal assets when they take out a business loan.
“More importantly, they are in a prime position to highlight an insurance solution that their SME clients may not be aware exists.”
Read more: Small business owners warned about CBILS personal guarantees
Earlier this year, Purbeck Personal Guarantee Insurance, which has provided over £120m in personal guarantees since its launch, found that a third of SME owners became personal guarantors in 2020.
