The aim of calculating the amount of cover required for the keyman is to estimate the impact on the company’s profits. The business will need a cash sum to allow it to continue to trade or and replace the keyman. There is no hard and fast way. Insurable interest Below are some of the methods [...]
A keyman or keyperson is someone whose death or disability would have a serious affect on a company’s future profits. A business can have one or more employees who make a vital contribution to it’s profitability. The size or that persons shareholding or even if they are not shareholders at all will not necessarily indicate [...]
Most businesses understand the need to manage the risks they face every day. They insure their premises, equipment and stock against fire, flood and theft. They insure their vehicles. But many don’t stop to think what would happen if they lost their most important asset – their people. The fact is many small and medium-sized [...]
