Business Protection

The majority of businesses have insurance to cover their buildings, their stock, their equipment and their vehicles. But many businesses forget to insure the most vital asset in their business – their people.

Business protection insurance offers a lifeline to a business should a key member or employee die or become critically ill. It helps to manage business continuity and succession planning. It buys time and gives you the funds to bring in outside support for the business and its clients.

WJM works with you and your business to ensure the people in your business are protected - which means your business is protected.

We cover:

Key Person Protection – for employees with specialist skills, whose death or long-term inability to work due to illness or injury would have an adverse impact on the business.

Shareholder Protection – to ensure that, on the death of a shareholder in the business, and at a time of great stress to both the business and the deceased’s family: 

  • the surviving shareholders have the funds with which to buy the shares of the deceased, thus removing the need to admit the spouse/family of the deceased to the business,
  • the spouse/family of the deceased are provided with the value of the deceased’s share of the business, thus removing the need for them to become involved in a business in which they may have little or no interest.

Partnership Protection – similar to Shareholder Protection but for partnerships as opposed to limited companies.

Business Loan Protection – ensures that loans taken out by the business, and perhaps granted by the lender on the strength of the involvement of a particular shareholder/partner, can be repaid without question on the death of a shareholder/partner.