Key Person

While most business owners understand the need to protect against unforseeable risks related to their capital assets- fire and theft for example - risk relating to another key asset, human capital, are often overlooked. These risks involve the loss of key personal due to death, disability or critical illness. Such events can threaten the viability of your business and the risks are far from remote.

Potential Threats Can Include:

• Your business performance may lag due to the absence of that individual. And, you could incur costs to replace them.
• Creditors may restrict or withrdraw credit
• Suppliers may tighten payment terms
• Customers may reconsider using the business as a supplier of product or service
• Other employees may be enticed to other career opportunities, if there is confusion and uncertainty surrounding the event

For MORE information about how you can protect your business against these kinds of risks, please contact us!