Covering all the bases

insurance

Key person cover is particularly important for small- to medium-sized companies as they are unlikely to have a large enough team to cover absences, although all firms who could lose from absence should consider this

How does a business survive without its key players? Business interruption cover, or key person cover, can provide the cash to let a business continue and rebuild itself. Businesses use insurance to protect their company's assets, such as buildings, plant and cars. One of their most valuable assets is their employees, yet only a small proportion of businesses protect themselves against the financial effects of losing key people through death or illness. Key person policies cover the loss of profits caused by the absence of a key person. This includes the costs of replacing key people, who ...