Did you know that over half of SMEs in the UK have no protection in place? Don’t let your business be caught off guard. Business protection can help ensure that your company stays afloat during difficult times.

Let’s take a closer look at the different types of protection that are available for businesses.

Key Person Protection

Meet Kevin. Kevin is a crucial member of your team; he contributes greatly to your company’s financial success. But what if Kevin were to fall ill or become unable to work? Key Person Protection can help cover the costs of replacing him and the potential loss of profits. This insurance product can provide a financial cushion to a business when a key member of the team is unable to continue working.

 

Shareholder Protection

Now let’s consider Sandra and Paula, co-owners of a business. If Sandra were to pass away, Paula may not have the capital to purchase her shares. But with a Shareholder Protection Policy, Paula can receive the funds needed to buy Sandra’s portion of the business. This type of insurance can ensure that the ownership of a business remains stable in the event of a shareholder’s death or critical illness. There are similar insurances available to partnership businesses.

 

As a business owner or HR advisor, don’t wait until it’s too late. Protect your business or clients today. There is a range of insurance options available to partnerships, limited companies, and LLPs. These policies can help ensure business continuity and prevent financial losses during unexpected events. Contact The Kindred Collective to learn more about your options for business protection and our Business Services offering.