Employer/Public Liabilty Insurance & Bankruptcy Question
Discussion
My partner has her own business, with a business partner. They have been trading as a partnership for 20 years.
Business partner was made bankrupt 20 years ago.
They have gone Ltd. this year for tax purposes.
Insurance renewal time, and insurance have asked about bankruptcy (Never asked before presumably because it was a partnership). Declares partner's history. They refuse to insure.
So, whilst i appreciate insurance company can insure who they like, and not insure who they dislike, two questions:
1) Is there a time period where bankruptcy does not have to be declared, i.e. it's spent?
2) Is it normal for insurance to be declined for bankruptcy 20 years ago?
Business partner was made bankrupt 20 years ago.
They have gone Ltd. this year for tax purposes.
Insurance renewal time, and insurance have asked about bankruptcy (Never asked before presumably because it was a partnership). Declares partner's history. They refuse to insure.
So, whilst i appreciate insurance company can insure who they like, and not insure who they dislike, two questions:
1) Is there a time period where bankruptcy does not have to be declared, i.e. it's spent?
2) Is it normal for insurance to be declined for bankruptcy 20 years ago?
Gassing Station | Business | Top of Page | What's New | My Stuff