Running a business can be incredibly rewarding – but what happens when something goes wrong?
Even with the best will in the world, sometimes things don’t go according to plan. Your business partner may pass away unexpectedly, an employee may have an injury at work, or you may need to step back sooner than you’d hoped.
This is where business insurance becomes vital
Business insurance doesn’t just protect you. It also covers your reputation and staff.
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. Business insurance takes into consideration a range of factors from location and industry type to number of employees and turnover.
The Attivo difference
At Attivo, we know every business is different. That’s why we’re proudly independent, with whole-of-market access to business insurance solutions. This means we can help you find the most appropriate cover for your business’ unique circumstances, rather than being restricted by limited options.
Our business insurance services include:
Key person cover
This cover helps protect your business if a key employee dies or becomes seriously ill. Because the policy is owned and paid for by the employer, any pay-out is made to the business, helping to reduce financial disruption and support continuity.
Shareholder & partner protection
This can help remaining owners retain control if a shareholder or partner passes away. It provides funds to buy the deceased owner’s share, helping protect the business and ensure beneficiaries receive fair value.
This type of cover supports both the business and the deceased owner’s beneficiaries, helping to reduce uncertainty at an already difficult time. A double option agreement is often used alongside this cover, giving surviving shareholders the option to buy the deceased owner’s share of the business.
Relevant life protection
Relevant life protection allows business owners to take out personal life assurance through the business. Premiums may be treated as a tax-relievable business expense, which could make this a more efficient option than paying for cover personally from post-tax income.
The level and availability of cover will depend on factors such as age, health, occupation and employment type. Some applications may be declined if the role is considered too high risk.
Let’s discuss your options
Having the right business insurance can help protect your company, your people and your plans if the unexpected happens. Our advisers can help you understand the cover available and identify what may be appropriate for your business.
Book a free, no-obligation consultation today to discuss your needs and explore your business insurance options.
We offer a free initial consultation to discuss your goals and next steps. If you decide to go ahead with advice, charges may apply – these will be explained before you commit. Business protection policies may not be suitable for all businesses and will depend on individual circumstances. Terms, conditions and exclusions apply. Cover is subject to underwriting and may be declined. If you do not maintain your insurance premiums, your cover may cease and you will no longer be protected. Tax treatment depends on individual circumstances and may change in the future.