Key person insurance is an important form of business insurance. There is no legal definition for 'key person insurance'. In general, it can be described as an insurance policy taken out by a business to protect that business for potential financial losses that could arise from the death or extended incapacity of an important member of the business specified on the policy.
Business Protection
Business protection is all about insuring for the unexpected. It's a way of protecting your business if something goes wrong.
One of the great risks of a business partnership is that one of the partners may die or suffer a specified critical illness, with his or her share of the business passing to their beneficiaries. The safety net is a pre-arranged scheme to ensure the surviving partners have enough funds to buy out the departed partner's interest in the business.
In the interests of financial security, business stability, and continuity - particularly for private limited companies where there may only be a small number of principal shareholders - it is important to provide a safety net following the loss of a shareholder
UK News
Non-religious weddings in England and Wales have had to take place indoors until now.
Mathew O'Toole's plea to find the woman who saved him was seen by one of her friends on Saturday.
He says he shares Labour's values and that the government "needs to be replaced".
The UK supermarket says the offer from Clayton, Dubilier & Rice "significantly undervalues the business".
The girl was walking with her father when the pair were reportedly hit by a car, police said.