Business Insurance Solutions
You’ve worked hard to build a successful business – so it’s important to ensure that your hard work and assets will be protected if an unfortunate event does occur. Our business solutions provide further protection for business operators beyond personal insurance, if they become disabled, ill or pass away.
Our Financial Advisers can provide advice on insurance solutions for your business, including:
Business Expenses Insurance
If you suffer an illness or injury and are unable to work, Business Expenses insurance may help with covering your fixed business costs and keep your business afloat while you are recuperating. This type of cover generally pays a monthly benefit to reimburse you for certain regular fixed business expenses such as rent, utilities, lease costs, or a locum. However it’s important to note that not all expenses will be covered, so speak to your Financial Adviser to make sure that you have the right level of cover.
Key Person Insurance
Key person insurance is generally implemented to help minimise the impact on your business in the event of the loss of a key staff member through injury, illness or death. This cover may be used for a number of purposes, such as providing funds to help compensate for a loss of revenue or to cover the cost of replacing the employee. Alternatively, the cover can provide funds towards repaying or reducing debt, releasing personal guarantees or settle loan accounts.
Ownership protection helps business owners put in place a plan of action that may be implemented should one of them pass away or be unable to continue participating in the business due to disability, injury or illness. Business continuation plans (including buy/sell agreements) can help provide protection and security for business owners in these situations by providing assistance with smooth running or ownership transfer of the business.
Subject to terms and conditions
Business Wellbeing Solutions
Management continuity planning is often regarded as one of those “important but not urgent” activities for business owners. But it’s important for any business owner to consider a plan for what will happen if a business owner decides to leave or scale down a business, whether it’s for lifestyle reasons or because of unforeseen events like an accident or disagreement.
We can undertake a detailed analysis of what may be required and tailor a Business Wellbeing Solution around your business needs. Our Financial Advisers will create a customised business succession plan, which can include ascertaining if the business has been valued and adequately insured, and working with a specialist lawyer to confirm that all documentation is correct, appropriate and accurate.