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>>Asset Protection Insurance

Asset Protection Insurance

What is Asset Protection Insurance?

asset protection insuranceAn Asset Protection Insurance policy protects your business against the potential gap in coverage between Professional Indemnity (PI) insurance and the total amount of a third party claim.

This type of policy is held in trust on behalf of your business and provides financial protection for your personal assets. In its simplest form, it could be described as a ring-fenced financial reserve that can only be called upon when a PI insurance policy is not sufficient enough to cover a sizeable claim.

One of the biggest benefits of this type of policy is its flexibility - it can be tailored to suit the financial and legal needs of your business, making each policy unique.

How does it work?

Asset Protection Insurance not only gives you long-term financial security against the unexpected, but it also provides you with the peace of mind you need when running a business.

Any policy of this type can help your business:

  • Recover any loss of profits you may sustain due to third-party compensation payouts
  • Recover any contribution from your personal assets to recapitalise your business
  • Protect your loss of investment if your business is liquidated.

Why is it important?

The main reason to take out a suitable Asset Protection Insurance policy is to insulate your business and your personal assets from the claims of any creditors.

Debts and mortgage obligations to third parties and vendors, claims for damages caused by your employees, product or professional liability and consumer-protection issues are just some of the risks you may have to deal with. Unfortunately, some of the more ferocious issues can cause severe, often irreparable damage - especially to small businesses in their infancy.

Holding an Asset Protection Insurance policy can bring in suitable legal protection that can deter a potential claimant or protect from the seizure of assets after a judgement.

For more information on Asset Protection Insurance, speak to our team today.

Related Insurances

Revenue Protection Insurance

Legal Liability Insurance

Employee Protection

Why choose Alan & Thomas?
  • Top 100 UK independent broker* with Chartered Insurance Broker status
  • Free no obligation review and quotation
  • Talk to a dedicated insurance expert to guide you through the process
  • Bespoke levels of cover tailored to your individual requirements
  • Competitive premiums underwritten by the UK's leading insurers
  • Dedicated in-house claims team who will deal with any claim on your behalf
  • Payment of premium by monthly instalment available (subject to status)
  • Free access to online risk management services

* Top 100 Independent Brokers 2013 published by Insurance Age in association with Cornell Consulting

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