Keyman Insurance
Directors or key employees with specialist skills/knowledge are central to your company structure. To lose such an individual through accident or long term illness can damage your business, sometimes to a greater extent than through death. There can be moral considerations towards such key people which place a drain on your firm at a time when the individual is unproductive. It makes sense to insure these people so that your company can continue. More often than not the key persons easily replaced car is better insured than the person driving it.
Key person cover can provide the following:
Paying the cost of a temporary replacement/locum
Meeting the cost and salary of recruiting a permanent replacement
Maintaining key relationships with shareholders, customers or financiers at a time of pressure