Business services: protection against risk
If you or your employees suffer an injury, illness or death, there could be serious financial consequences for you, your business or your employees.
Insurance can either provide protection for the business itself, eg to make up any shortfall in profits should the business lose a key employee, or it can be an important benefit for employees, thereby helping you recruit and retain the right people.
It's important to prepare your business to survive major disruption and to re-establish normal operations as soon as possible after a problem occurs. An effective health and safety policy can help prevent accidents, and a procedure for data backup will enable you to cope with a computer breakdown.
However, there will be events that inevitably are out of your control. In these cases, you may find that having the right insurance cover can minimise disruption to your business. For example, we can advise you on insurance to help you cope with an unexpected event to one of your key employees, such as illness, retirement or death. Among the types of insurance to consider are:
- accident and sickness
- key personnel
- income protection
- critical illness
- private medical insurance
Life and health insurance can also be a valuable benefit to provide for your employees. It can often be easy and relatively cheap to provide, and plays a major role in helping you attract and retain good quality employees.
It is possible to buy life insurance for employees individually, but more commonly businesses take out life insurance for a whole group of employees. This is called group life insurance and can be arranged alone, though it is also often found linked to a pension arrangement. A group life insurance scheme might include all employees who have been working in the business longer than a certain period, such as six months.
To find out more about how we can help you, please contact us.
