Keyman Insurance & Shareholder Protection Insurance

Keyman insurance and shareholder protection are two of the most important insurance policies for businesses, but ones which often get overlooked.  Most businesses will as a matter of course organise public liability insurance, buildings and contents and car insurance. However, what would happen, if you were to lose one of your key employees? Someone who is crucial to the success of your business?

Keyman insurance is designed to financially protect a business, should it lose a key member of staff to either serious illness or death.  It can provide financial help to cover the costs of temporary staff, recruitment, loss of profits or to provide a cash injection.

Shareholder protection insurance protects each of a company’s shareholders. On the death or diagnosis of a critical illness of a shareholder, the other shareholders receive a cash lump sum, which can then be used to buy the affected shareholder’s shares. This ensures that the shareholder’s family receive their part of the inheritance as quickly as possible – and there is minimal disruption for the company.

This is a complex area and selecting and setting up the right keyman insurance or shareholder protection policy requires expert advice.

At PK Group, the team of insurance specialists can assist you by providing a range of keyman insurance quotes and shareholder protection quotes, advising on what will work best for you and your business.  To find out more, please contact your PK Group Advisor.  If you have not worked with us before, please do get in touch and one of our specialists will be happy to assist.