The Art of Protecting Your Business

Competitive Charges

We can offer Debtor Insurance at extremely competitive rates. These will vary according to size and risk, but will typically range from 0.15% to 0.75% of your annual turnover, but may be lower depending on your turnover and any losses to date. There is no minimum premium.

Statistics, recently released by the Insolvency Service show a steep rise in insolvencies in the third quarter of 2008.

COMPANY INSOLVENCIES

There were 4,001 compulsory liquidations and creditors' voluntary liquidations in total in England and Wales in the third quarter of 2008 (on a seasonally adjusted basis). This was an increase of 10.5% on the previous quarter and an increase of 26.3% on the same period a year ago.

This was made up of 1,483 compulsory liquidations (which are up 10.9% on the previous quarter and 16.1% on the corresponding quarter of the previous year), and 2,518 creditors voluntary liquidations (which are up 10.2% on the previous quarter and 33.2% on the corresponding quarter of the previous year).

INDIVIDUAL INSOLVENCIES

There were 27,087 individual insolvencies in England and Wales in the third quarter of 2008 on a seasonally adjusted basis. This was an increase of 8.8% on the previous quarter and an increase of 4.6% on the same period a year ago.

This was made up of 17,341 bankruptcies (which were up 12.1% on the previous quarter and 9.5% on the corresponding quarter of the previous year), and 9,746 Individual Voluntary Arrangements (IVAs), (which were up 3.3% on the previous quarter but down 3.1% on the corresponding quarter of the previous year).

Source: Insolvency Service and Companies House

See link below to full source:
http://www.insolvency.gov.uk/otherinformation/statistics/200811/index.htm

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Service Features

  • Whole turnover policy (offer all your debtors for cover).
  • 90% indemnity.
  • Typically a £1000 excess. Other excesses or bespoke structures are possible.
  • Interactive system allowing on-line access to underwriters puts you in control.
  • Covers UK and Export sales.
  • Right to terminate giving notice of one calendar month at any time.

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This insurance is arranged by Lloyds TSB Commercial Finance Limited and underwritten by AIG UK Limited. Lloyds TSB Commercial Finance Limited is an appointed representative of AIG UK Limited. (FSA Register number 202628), The AIG Building, 58 Fenchurch Street, London EC3M 4AB, which is authorised and regulated by the Financial Services Authority. AIG UK Limited is a member company of American International Group, Inc.