Keyperson / shareholder / partnership protection / business risk
Businesses often see the need to protect the key employees within their Firm – perhaps the key salesperson, or the senior IT manager without whom the business will not function properly.
Keyperson / shareholder / partnership protection can provide a fixed sum on death or disability of an individual member of staff or director / partner shareholder. The benefit will be designed to cover the firm’s expenses in meeting any emergency costs, recruiting a replacement employee and protecting the future of the business.
If a shareholder were to pass away, the firms remaining shareholders or directors may want to purchase the deceased’s shares from their estate promptly to maintain control of their business. The same scenario also applies to partners in a firm.
At Patterson-Mills, we design a bespoke plan for your business needs in all the above areas. You can download a briefing note on shareholder business protection below.
For further details
Please email firstname.lastname@example.org to arrange to discuss your situation initially. We can provide costings and documentation for your review, before deciding upon and implementing your requirements.
This type of advice relates to contracts of insurance and is remunerated by way of commission, which is fully disclosed in advance of your acceptance of any contract terms. This means there are no corporate fees or other direct charges made.
Business risk and crisis management
Emergencies can hit anytime and when they do things rarely go as planned. From a disgruntled ex-employee taking your Twitter account, or to you having lost production capability, your latest product may have been tampered with and needs to be withdrawn from the market, or you suspect a major data breach.
Whatever the crisis, how you handle it can have significant consequences for your business. But surprisingly, the Institute for Crisis Management reports that only a about half of organisations have a business crisis management plan in place to help prepare for such events.
At Patterson-Mills, we have linked up with experienced Risk Consultants, Aldbury International and you are welcome to contact them for an initial discussion.
We do not advise upon or implement this area of business risk management, though feel it appropriate in the modern climate to make mention of this often neglected side of business planning. It is one that is growing in importance in the ever-changing global business world of our 21st century.
You are welcome to download our Briefing Note below and contact us for further information