Charges

What are the charges for Debtor Insurance?

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 0.85% of your annual turnover, but may be lower depending on your turnover and any losses to date. There is no minimum premium.

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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INSOLVENCIES IN THE FOURTH QUARTER 2009

Statistics showing insolvencies in the fourth quarter of 2009 were published on the 5 Feburary 2010 by the Insolvency Service.

COMPANY INSOLVENCIES

There were 4,566 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the fourth quarter of 2009 (on a seasonally adjusted basis). This was a decrease of 1.7% on the previous quarter and a decrease of 1.1% on the same period a year ago.

This was made up of 1,338 compulsory liquidations (which are up 2.7% on the previous quarter but down 14.2% on the corresponding quarter of the previous year), and 3,228 creditors voluntary liquidations (which are down 3.5% on the previous quarter but up 5.7% on the corresponding quarter of the previous year).

In the twelve months ending Q4 2009, approximately 1 in 114 active companies (or 0.9%) went into liquidation, which is approximately the same as the previous quarter.

Table I. Company Liquidations in England and Wales (seasonally adjusted)¹

Source: Insolvency Service and Companies House
p = provisional, r = revised

¹ Longer series back to 2000 are presented in the accompanying detailed tables.
² Where the CVL is the first insolvency procedure entered into (see Notes to Editors).

Additionally, there were 1,465 other corporate insolvencies in the fourth quarter of 2009 (not seasonally adjusted) comprising 397 receiverships, 849 administrations and 219 company voluntary arrangements.  In total these represented a decrease of 39.7% on the same period a year ago (this should be interpreted in light of the Q4 2008 figure for administrations, detailed in note 4 to Table II below).

Table II. Other Corporate Insolvencies in England and Wales (not seasonally adjusted)¹

Source: Insolvency Service and Companies House
p = provisional,

¹ Longer series back to 2000 are presented in the accompanying detailed tables.
² Includes Law of Property Act receivers (see “Notes to Editors” paragraph 9).
³ Includes Administrator Appointments.
⁴ The figure for 08Q4 includes 729 separate managed service companies for which BDO Stoy Hayward was appointed administrator.  The administrations were approved in September 2008, but the statistics are counted based on the date registered at Companies House (which fell in October 2008, i.e. Q4).

Note: The figures in Table II are not seasonally adjusted and are not, therefore, on the same basis as the headline figures in Table I. The accomanying detailed tables also include the non-seasonally adjusted series for corporate liquidations.

Source: http://www.insolvency.gov.uk/otherinformation/statistics/201002/index.htm

This insurance is arranged by Lloyds TSB Commercial Finance Limited and underwritten by Chartis Insurance UK Limited, The Chartis Building, 58 Fenchurch Street, London EC3M 4AB. Lloyds TSB Commercial Finance Limited is an appointed representative of Chartis Insurance UK Limited, which is authorised and regulated by the Financial Services Authority (FSA Register number 202628). You can check this on the FSA's register by visiting the FSA's website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

Key Facts

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