Bonding & Insurance
We at Network Insolvency have used our contacts, negotiation skills and influence to strike a deal with a major provider of bonds, open cover insurance and Professional Indemnity Insurance. It is an agreement that offers our members the best and most flexible cover at very good discounted rates.
THE BENEFITS OF BEING A MEMBER OF A NETWORK - INSURANCE AND BONDING
An Insolvency Practitioner in England & Wales cannot legally act in an insolvency appointment unless appropriate security (by bond or caution) is in force. This is expensive and often a barrier to very fine professionals starting their own businesses in the sector. Help and immediate assistance is at hand. Being a member of the Network Insolvency team offers a number of great advantages.
Practitioners know that bonding rates, particularly for those in smaller practices, can be very challenging. It is one of the sticking factors that preclude entrepreneurial practitioners from striking out and starting their own businesses. On cases with significant assets premiums can be disproportionately high compared with those available to larger firms. This has the double whammy of dulling the competitive edge and making those jobs less appealing to smaller practices.
With the highly competitive and attractive rates offered to members of Network Insolvency, along with peace of mind that renewals will be simpler and less stressful, barriers to making a small practice work are instantly lowered.
What Is The Insolvency Practitioner Bond?
In addition the top class insurer with whom Network Insolvency have negotiated a great deal can offer flexible open-cover terms following appointment on a case.
Through Network Insolvency all members have access to specialist Professional Indemnity Insurance cover tailored to the risks faced by IPs, with competitive, group-negotiated premiums that reflect the group nature of the members and subscribers.
In addition our insurance partner offers dedicated claims support from advisors experienced in insolvency-related disputes, as well as ongoing risk management guidance to help reduce exposure and strengthen controls in your business.
THE BENEFITS OF A NEGOTIATED GROUP DEAL WITH A TOP INSURER
Network Insolvency have negotiated a terrific group deal with a top ranking specialist insurer, doing all the work for our members and significantly reducing the costs of all insurance cover.
This is a smart and affordable deal with one of the premier suppliers of professional insurance and bonding in our sector. The benefits of this include:
Network Insolvency are very well connected. We have got access to a top-flight insurer usually only available to very large firms.
Members receive all the benefits of flexibility of cover, experience of the sector and great discounts.
Can you imagine the relief of someone doing all the negotiating about insurance cover for you?
Imagine no more - that is exactly what it is like to be a member of Network Insolvency.
The combination of flexible insurance cover, specialist Professional Indemnity Insurance and claims support ensures the right protection at all times.
The headache removed, you are free to run and grow your business.
Expert support will always be on hand. Insurance cover becomes an important part of the solution, not a demanding part of the problem.
Having worked in this space and suffered the problems the founders of Network Insolvency precisely know the value of this option.
The challenge of getting the right and most attractive bonding rates is met and defeated.
Network Insolvency’s insurance contacts work for you, standing shoulder-to-shoulder with you as you evolve your practice.
We ensure you receive the best Professional Indemnity Insurance cover, fashioned to the specific risks that Insolvency Practitioners face on a daily basis.
You receive not only discounted rates but specialist advice and cover.
Membership of Network Insolvency gives you unique benefits, services and support at a very affordable price. Check out what subscription includes and the discounted costs here.
THE BEST INSURANCE COVER AT THE BEST RATES
As a member of Network Insolvency we have put in the hard yards on your behalf. Nowhere is this more important than in sealing a great deal on bonding costs and insurance.
This includes:
Not just saving you money, but equipping you with the best and most professional cover
Access to the best bonding rates
Genuine peace of mind that the renewal process will be humane, simple and without complications
Access to a top, high-quality, insolvency-sector-focused insurer
Dedicated claims advisors who understand the profession , the risks and the challenges you face
Specialist insurance cover to combat the potentially litigious nature of the insolvency sector
SAVING COSTS ON BONDING AND INSURANCE WITH NETWORK INSOLVENCY
It is very simple. Network Insolvency offer you access to the best insurers at the lowest cost.
Dedicated Insolvency Insurers with the Greatest Experience
Network Insolvency have used our contacts and enormous experience to set up the best deals on your behalf
Delivery of Peace of Mind Throughout the Process
From quotation to claims, our partner insurer supports and works alongside our members
The Best Discounted Rates in the Sector
It is not all about saving money, but it has to be a factor