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morphon
Contributor

9 Posts

Posted - 28 April 2012 :  07:42:34  Show Profile  Reply with Quote
Hi,

I am trying to get my business off the ground and I have taken on an apprentice.
We are about to start work and I need Public Liability Insurance and Employer's Insurance.
I tried to get some quotes on-line but they say that they won't insure someone that is insolvent. I have a Trust Deed at the moment and I'm worried I can't get insurance.

I was wondering if anyone here knows how I can get around this as I am desperate to start work but need the correct insurance cover.

Thanks!

TDA (Debt Adviser)
Trust Deed Expert



13402 Posts

Posted - 28 April 2012 :  09:23:13  Show Profile  Reply with Quote
Hi morphon.

The challenges of business insurances and trust deeds have been discussed here previously. It would seem that some insurers perceive that your being insolvent exposes them to additional risk and therefore they decline to cover or charge more.

Our member Hamish, who knows a lot more about insurance than the other experts here, provides some useful information in the following thread:

http://www.trust-deed.co.uk/forum/topic.asp?TOPIC_ID=1289

I think the best step for you to take might be to contact one or two business insurance brokers so that they can assist you with this process and search.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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morphon
Contributor

9 Posts

Posted - 29 April 2012 :  10:46:35  Show Profile  Reply with Quote
Thanks TDA, I will have a look at the link you gave me.
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Hamish
Advanced Contributor

76 Posts

Posted - 29 April 2012 :  17:29:59  Show Profile  Reply with Quote
Morphon,
TDA is right, go in and see a couple of local insurance brokers who should help you get correct cover.

Towergate and SIS Insurance might be able to help.

You will be able to get cover, you will just have to look around a bit.

All the best.
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TDA (Debt Adviser)
Trust Deed Expert



13402 Posts

Posted - 30 April 2012 :  13:33:36  Show Profile  Reply with Quote
Thanks once again Hamish.

It is really useful to have your insurance knowledge here.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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