For Business customers we provide the ultimate in detailed protection planning. Each business is unique and we will work with you to provide the best possible recommendation that protects your business from the unexpected.

One of our Business Protection Consultants will give you tyou the personal attention your business deserves. They will even take care of all the paperwork for you, so you don't need to worry about a thing.

Why protect my business with insurance?
There are a number of business situations in which the loss of a colleague on a permanent or temporary basis can severely affect the financial health of an organisation

• Death of a key employee
• Death of a business Partner
• Death of a small business shareholder
• Sickness of an employee
• Sickness of a business partner
• Sickness of a self employed sole trader

Death of a key employee
The death of an important employee, particularly in a small company, can have a devastating effect on a company’s profits.
Example of a key employee: - A managing director with a strong and motivational personality
A research scientist with specialised knowledge, a skilled engineer with a detailed understanding of the company’s machinery, a sales person with a wide range of personal contacts.

Death of a business Partner
On the death of one of the partners in a firm, the beneficiaries of that partner (often their spouse and/or family) may wish to withdraw his share of the partnership’s value. This can cause problems for the remaining partners because it might mean that they will have to sell partnership assets to pay the deceased partners family. Since much of the assets of the business may be in the form of ‘goodwill’ it might be necessary to sell the entire business in order to realise this value. The solution is for the partners to insure against the death of each partner – in order to buy out their share.

Death of a small business shareholder
Small businesses are often run as private limited companies with a small number of share holders, who are often family members or close relatives or friends. In the same way that partners may wish to buy out the share of a deceased partner, surviving shareholders in a small business will probably want to buy shares of a deceased shareholder to prevent the shares from going out of the close circle of existing shareholders.

Sickness of an employee
If a partner falls ill, he may be able to continue to draw income from the partnership for some time, even if not contributing his skills to the partnership’s earning capacity. There will be a need to provide replacement income to avoid the partner becoming a drain on the partnership’s resources. The remaining partners may even wish to buy his share of the business in the event of him being unable to return to work. Clearly there is a possible need for income protection and/or critical illness cover in addition to life insurance.

Sickness of a self employed sole trader
Although sole traders may employ others to work for them, they often do much of the key work themselves, including accounting and decision-making. If a sole trader ceases working, his income is likely to stop very quickly. Worse still, his customers may be lost to competitors, causing the business to collapse. The pressure and anxiety resulting from such a situation is likely to hinder recovery from the very illness by which it was caused.

Insurance can remove or reduce the effects of all these circumstances in relation to the finacial effect on the business.

	You might also like to view Income Protection Insurance
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RainbowBusiness Protection is an Appointed Representative of Network Data Limited which is authorised and regulated by the Financial Services Authority for regulated mortgage and insurance business only.
Network Data Limited entered on the FSA Register http://www.fsa.gov.uk under reference 300391