Ownership Protection

Losing a partner or shareholder can have a major impact on the success of any business. But it’s not just about the loss of profit. Could your business continue if one of the owners were to die or suffer a critical illness? Who would take their place? Not only in performing their day to day duties, but in deciding how your business is run in the future?

Imagine if one of your co-owners were to die. Not only could your business suffer financially, but what would happen to their shares? You could be forced to work with someone new, like one of their family. That person may have no knowledge of your business and no interest in it either. But because they now own a share, they have just as much say as your co-owner had before they died. And if your co-owner suffers a critical illness this creates uncertainty. Will they be able to return to work and if so, when? Will they want to sell their shares and who will buy them?

By having ownership protection in place all of these problems can be solved. Business protection insurance gives you and your co-owners the security of being able to keep the ownership of the business in the hands of those who have built it.