If you currently run a business, you probably have some form of commercial insurance in place. For example, if you have staff, you are obliged to have employers’ liability insurance, or if you have company vehicles then you will have motor insurance.
Depending on the nature of your business and where you trade from you may also have in place insurance to protect your premises, your IT equipment, your stock, your machinery, etc., to protect against the unforeseen. The astute business owner will actively arrange for protection to be put in place for these business assets.
However, many business owners overlook insuring their greatest asset – their staff. Businesses of all sizes have key individuals that keep the business running, but few have in place health and life insurance for them. The loss of key staff through illness or death could have a far greater impact on the running of a business than failure of their physical assets, yet few businesses have a plan in place to deal with this eventuality.
For example, should a business partner suddenly died, would the business have the means to repay loans he, or she, had underwritten? Or if a key individual became critically ill, could the business fund a replacement to ensure the business continues to run and is operating when they recover? Without appropriate insurance in place such an event could prove disastrous, and be the end to an otherwise successful business.
Insurance helps protect against these risks by providing means to repayment business debts, funds to help find and recruit specialist staff or fund the settlement of deceased proprietor’s estates.
How can we help?
Not all businesses have the same range of insurance needs. We can help assess where the insurable risks lie within your business and put together a cost-effective plan to give you the peace of mind to allow you to concentrate on its running.
For an initial discussion, please contact our office on 01792 483860, or email firstname.lastname@example.org, and we will be pleased to arrange an appointment.