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Business Protection

Business Protection Insurance Can Help Protect Your Business Against the Unforeseen

This protection is key because businesses like nothing better than continuity and reliability. But in a changing and uncertain world, they are facing increasing pressures from all directions. These pressures impact on their bottom line.

This is where business protection insurance can help protect your business against the unforeseen and offer peace-of-mind.

Key Person Cover

Every business insures its premises, taking out public liability and often professional indemnity insurance. But have you considered insuring against the loss of what really drives your business growth – your key personnel?

If you lost a key person in your business you need to ask the following:

  • How easily could the business replace their expertise?
  • Would their absence affect business expansion plans or ongoing projects?
  • How long would it take, and how much would it cost, to replace that person and get the new recruit up to the same level?
  • Would the business be in danger of losing customer orders, contacts or goodwill?

Shareholder and Partnership Protection

If you are a partner or shareholder in a business, who inherits your share when you die? If you haven’t made provisions, the persons you might want to inherit either might not inherit, or might not be able to afford it. Business disruption and in-fighting can result.

In 2019 the successful coffeehouse AMT hit the headlines precisely because the 3 founding brothers had not reached a shareholder agreement. After the death of one of the brothers a protracted legal battle ensued, resulting in a £7m award to his widow as well as extensive legal costs.

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