Finance & Insurance Products
It' s not only fire and theft you need to think about, says Nigel Mills from Towergate Mardon. And James Crew from Barclays Marine Finance says funds are readily available...
It’s not just fire and theft you need to think about
In the current economic downturn, says Towergate Mardon, it’s now more important than ever to protect your business and insurance cover is one of the first things that come to mind.
However, in these difficult economic times it’s not just the old enemies of fire and theft a business needs to think about.
Financial loss can cripple a business, and more worryingly, the hard working directors of the company.
Nigel Mills of Towergate Mardon, one of the leading insurance providers to the marine trade, said that people are increasingly showing interest in financial protection for legal matters. Many company directors don’t realise they can be personally held liable, and could forfeit personal assets, in the event of something going seriously wrong with the running of their company.
Their customers are increasingly turning to solicitors to resolve disputes over goods sold and products provided, not to mention employment disputes and tribunals. However most of these eventualities can be insured against, and often for far less than the average company director might think.
You can protect your business from as little as £53.00 a year, giving £100,000 legal costs as a result of: • Employment Disputes • Legal Defence (including prosecutions from the Health and safety executive) • Tax Investigation.
‘Most people I speak to are pleasantly surprised when they find out that the peace of mind provided by our Legal Protection and Directors & Officers insurance policies does not cost as much as they think,’ comments Mills.
For advice on marine trade and financial protection insurance contact Malcolm Stewart from Towergate Mardon on 07872 197858 or email malcolm.stewart@towergate.co.uk
Funds are readily available
Much has been talked about the availability of credit from banks. But for private individuals or corporate clients looking to raise capital to finance the acquisition of a yacht or boat, Barclays Marine Finance are keen to stress that funds are readily available, subject to application.
Marine head of sales, James Crew, comments: ‘In no uncertain terms, we are most definitely “open for business”, and considering the strength of the euro against the pound this could, arguably, be described as one of the best times for UK boatbuilders and retailers to sell their products to foreign customers.
‘Thankfully, due to our high profile abroad, Barclays Marine Finance has always received a steady flow of requests for purchase finance from foreign clients, attracted by competitive terms, and our willingness to lend in selected major currencies other than sterling.’
Mr Crew continues: ‘Within the UK we put a great deal of emphasis and importance upon our relationships with and service offered to the marine trade, and members of my team are out “on the road” as much as possible.
‘We know the value to customers of securing finance for them as quickly and efficiently as possible and, barring any unexpected complications, a typical UK based applicant making an original enquiry and completing an application form, can expect to receive a formal offer and final pay-out within an average period of four weeks and very often sooner.’
In conclusion, Mr Crew adds: ‘Part of our further commitment in trying to assist brokers and dealers to sell more boats has been to maintain a visible presence and put marine experienced staff in place at as many of our customer’s demo and open-weekend events as possible this year.
‘If you have a high profile event planned and would like to discuss potential on-site representation from Barclays Marine Finance, please do get in touch with me.’
Contact James Crew from Barclays Marine Finance on 023 8045 6298, or email james.crew@marinefinance.barclays.com - www.barclays.co.uk/marinefinance
Holman's new marine trade division
John Holman & Sons has created a specialised marine trade division, trading as Holman Marine. The new division will bring first class, City of London service levels to the marine trade but at local prices in a facility designed to cater for any business involved in the marine industry.
David Brett, who has over 30 years in the marine insurance market, has been recruited to lead this initiative and is able to give a personal and professional service to clients for their insurance requirements.
'David is an insurance professional whose skills complement the wealth of experience of our marine broking team in London,' said Holman’s marine manager Anthony Jacks.
Full insurance broking facilities are available, including access to many of the country's most innovative and cost-effective schemes.
David Brett can be contacted by e-mail on david.brett@holmans.co.uk or by phone on either 0207 977 8207 or 07712 193760.
