FOR BUSINESS
Business insurance gives you protection against potential losses faced by a company due to unforeseen events. This can include legal liability, property damage, or employee-related risks. It’s not just protecting you: it covers your reputation and staff.
Business insurance takes into consideration a range of factors from location and industry type to number of employees and turnover. To complement our other services, we can help you explore the business insurance you need. Every business is different, and we’re adept at finding the right cover for you.
It is important that you consider the risks which could impact your business. Most employers overlook the most valuable asset to their business.
Why should I have business insurance?
Aside from peace of mind and financial security, there is a legal requirement if you have employees – protecting against any claims if your employees are injured at work. It also mitigates any financial risks by covering costs associated with lawsuits or accidents.
Whether you’re a small, medium or large business, you’re self employed or have an online business, you’ll still need cover. Get in touch with us to see how we can help.
What cover and support do Attivo offer?
Key Person Cover
This type of cover is designed to help protect your business in the event of death or severe illness of one or more key employees. As the policy is owned and paid for by the employer, any pay-out is payable to the business, however there are some drawbacks, such as premiums may not be tax deductible and they may change over time as the key person ages.
Shareholder/Partner Protection
One of the risks associated with owning a business is that your shareholders or partners may die. Shareholder/partnership cover means that you retain control of your business in this event, by having the funds to buy the deceased owner’s share. Failing to review, plan and insure against this could result in a competitor taking a holding in your company. It could result in your dependents not receiving fair value for your life’s work.
Relevant Life Protection
Many business owners overlook the option of having relevant life protection. As a result, they often purchase life assurance directly and pay premiums with post taxed income. Relevant life assurance allows business owners to take out personal life assurance via a business policy and the premiums become a tax relivable expense saving between 20% – 45% on premiums through the tax saving alone.
However, the amount of cover is dependent on certain factors such as employees age and overall health and the type of employment. Cover can be refused if for example the occupation is considered too high-risk.
Protecting you against the unexpected
Shareholder/partnership cover benefits both the remaining business owner(s) and the beneficiaries of the deceased shareholder or partner, helping to ease the burden when the unexpected happens.
Double option agreement
This agreement is the preferred method for shareholder/partnership cover. It provides the surviving shareholders with the option to buy the deceased business owner’s share of the business.
Make sure you get the right coverage today
Protect your business from the outset and ensure you’ve got the right coverage for you. Our advisers at Attivo will be able to support you and offer whatever guidance you require – whether that’s throughout the process, or dipping in and out.
Get in touch with us today to look at what cover you need, or to get a business insurance quote.
Failure to maintain your insurance premiums could result in loss of protection. Cover may be subject to underwriting.
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