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A contract of insurance that covers most of the personal payment obligation you carry when you sign a personal guarantee on a business loan, if that guarantee is ever enforced.

The loan and guarantee are agreements with your lender. PGI is a separate policy between you and an insurance carrier that sits behind the guarantee and protects you personally.

No. The guarantee stays fully enforceable and your loan documents are unchanged. PGI protects you without altering the lender position.

Up to 80% of your validated personal payment obligation on a called guarantee, to a ceiling of $1,000,000 per guarantee. You retain the remaining 20%.

You are. The insurer pays you, the named insured, and you then pay the lender. The lender is never paid by the insurer.

No. There is no subrogation against you personally for the covered portion once a claim is settled.

A team included on every policy that engages your lender the moment enforcement is signalled, exploring restructuring and managed sale options before a claim fully develops. There is no extra premium for it.

CSBFP loans, acquisition financing, lines of credit, commercial real estate, equipment finance and similar facilities where you have signed a personal guarantee.

Yes. PGI is designed to protect exposure on guarantees you have already given as well as new ones.

A one-year, claims-made policy paid monthly, priced on your loan size, structure and risk profile. It renews annually for the life of your loan.

A short, no-obligation assessment of your eligibility and likely terms. It requires no sensitive personal information to begin. Creditsafe may be used to assess your company's credit score, but we ultimately rely on the work of our underwriters.

A secured loan is backed by a specific business asset that the lender can take and sell if the loan is not repaid, such as equipment, vehicles, property or money your customers owe the business. An unsecured loan has no asset pledged behind it, so the lender relies on the business's cash flow and, very often, on the owner's personal guarantee. If the business defaults on a secured loan, the lender will usually recover what it can from the asset, then look to the guarantor for any shortfall. With an unsecured loan, the guarantor can be asked for the full balance owed. Many guarantees do not require the lender to sell business assets before coming to you, so read your guarantee wording carefully.

Choose the option that matches how your loan is backed. Your loan agreement, or your lender, will tell you whether the loan is secured and by what.

• Asset Finance: a loan or lease for equipment or vehicles, secured by those items.
• Invoice Finance: borrowing against money your customers owe the business.
• Commercial Mortgage: a loan secured by land or a commercial building.
• Other Secured Loan: any other loan backed by a specific business asset.
• Unsecured Loan: a loan or line of credit with no specific asset pledged.
• Other: anything that does not fit the options above. You will be asked to describe it.

The Canadian Branch of Markel International Insurance Company Limited, rated A (Excellent) by AM Best.

Yes, across Canada, excluding Quebec.

Coverage, retention, limits and exclusions are set out in the policy wording, which you can review before you commit.