Business Insurance

Help protect yourself, and the future of your business, with business protection insurance that covers your key people and its shareholders.

Safeguard your businesses future

While many businesses insure their material assets, protecting their most important assets – their key people – can often be overlooked.

Business protection insurance can help protect the financial stability of your business from unforeseen circumstances, such as the death or serious illness of a shareholder, director or other key employee.

Shareholder Protection

Key Person Business Insurance

Key Person Income Protection

Who is a Key Person?

A key person is anyone whose contribution is relied on for the smooth running, profitability, and growth of a business – the staff whose extended absence could ‘make or break’ a business. Roles that are classed as “key” can vary from business to business, but tend to be:

  • Owners
  • Managing directors
  • Technical experts
  • Team managers
  • Skilled employees

Why do I need business protection insurance?

The loss or illness of a key member of staff can put significant financial pressure onto a business. In fact, 52% of businesses would cease trading in under a year if a key person died or became critically ill*.

Productivity can go down, and finding a temporary or permanent replacement costs the businesses, in terms of both time and money.

Business protection insurance helps give you peace of mind that, should the worst happen, your business has a financial support to continue operating during a difficult time.

  • Maintain customer confidence
  • Protect your employees
  • Keep your business running

Key Person Insurance

The success of a business can be seriously compromised by the death or critical illness of an owner or a key person within the company. Key person insurance – sometimes referred to as key man insurance – can ease the financial impact of such a loss, by paying out a lump sum that can be used to help mitigate the impact of any resulting loss in revenue or profits.

Key Person Income Protection

If a skilled member of your staff were unable to work due to an injury or illness, does your business have the means to replace the associated productivity or revenue loss? Key Person Income Protection insurance pays a monthly income in this event, which can help you keep the business running during a stressful period.  

Shareholder Protection

The death of a shareholder can have a serious impact on a business, both in terms of the equity they provide and leadership responsibilities. Shareholder Protection insurance provides the remaining shareholder(s) with capital to purchase the deceased’s shares. This way, the business can have the option to stay in control of the shares, rather than them passing to the deceased’s beneficiaries.

Protecting Yourself

As business owners, protecting your family, spouse and personal income is just as important as safeguarding the future of your business. In addition to business protection advice, we can also advise you on personal protection insurance products, which can help support the financial security of your loved ones, should you die or become unable to work due to injury or illness.

Discover more about the different types of protection cover available, including critical illness, income protection and life insurance.

Contact Us

The above cover is available across several different policies and all cover is subject to underwriting and individual circumstances.

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