Insurance Following a Previous Business Insolvency
Overview
While insurers will consider previous financial history as part of their underwriting process, cover may still be available depending on individual circumstances. A clear and accurate understanding of past events, including the reasons behind the insolvency, is an important part of helping secure appropriate insurance for a new business.
Each case is assessed on its own merits, and outcomes may vary based on factors such as the nature of the previous business, financial history, and the structure of the new enterprise.
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How Can We Help
We work with a range of insurers who consider a broad spectrum of risk profiles, including businesses with previous financial difficulties.
Our role is to help support you by:
Understanding your circumstances; We take the time to understand the background to your previous business, including any external factors that may have contributed to the outcome.
Presenting your risk clearly to insurers: We can help ensure that all relevant information, including insolvencies, County Court Judgments (CCJs), Company Voluntary Arrangements (CVAs), or Individual Voluntary Arrangements (IVAs) is clearly communicated to insurers in line with fair presentation requirements.
Accessing appropriate insurance markets; Through established relationships with specialist and mainstream insurers, we aim to identify providers willing to consider your application based on its full context.
Advising on suitable cover; We will discuss the types of cover that may be appropriate for your business, based on its activities, structure, and risk profile.
Insurance is not guaranteed, and terms offered will depend on underwriting criteria and full disclosure of all relevant facts.
Solutions at
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Let’s Find the Right Fit Together
Every situation is different, and your insurance should reflect that. Let’s connect and talk through options built with you in mind.
Key Considerations
When applying for insurance, it is essential to disclose all material facts relating to both business and personal financial history. This may include:
- Previous insolvencies, liquidations or administrations
- Receivership arrangements
- CCJs, CVAs or IVAs affecting directors or the business
Failure to provide full and accurate information may affect the validity of insurance cover.
Depending on your business activities, elements to consider may include:
- Trade Credit Insurance, which helps protect cash flow by providing cover where a customer is unable to meet payment obligations, subject to policy terms.
- Directors’ & Officers’ Liability Insurance which provides cover, subject to terms and conditions, for certain claims made against directors or officers relating to alleged wrongful acts in the management of a business.
- General risk management practices which improve the visibility of customer and supplier exposures, maintaining financial controls, and seeking professional advice where appropriate.
Why Choose Us
Insurance Following a Previous Business Insolvency
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