Business Protection
Key Person Cover
Safeguard your business against the financial impact of losing critical
personnel. Comprehensive protection that ensures business continuity
when you need it most.
Understanding Risk
The Cost of Losing Key Personnel
Every successful business depends on key individuals whose expertise, relationships, and leadership drive growth and profitability. The unexpected loss of such personnel can have devastating financial consequences that extend far beyond emotional impact.
Research shows that businesses can lose up to 20% of their revenue following the death or critical illness of a key person. For many companies, this represents an existential threat that could jeopardise everything you’ve built.
Key person insurance provides the financial cushion your business needs to navigate this difficult period, ensuring continuity while you rebuild and reorganise.
Potential Business Risks
- Loss of critical skills and expertise
- Disruption to client relationships
- Recruitment and training costs
- Potential loss of contracts or revenue
- Impact on business valuation
- Stakeholder confidence concerns
Without proper protection, these risks could threaten your business’s survival and your stakeholders’ investments.
Business Continuity
Ensure your business can weather the storm of losing a key individual, maintaining operations and protecting stakeholder interests.
Financial Stability
Cover the costs of recruitment, training, and potential revenue loss while your business adapts to change.
Stakeholder Protection
Reassure investors, lenders, and partners that your business has comprehensive risk management strategies in place.
Talent Recognition
Demonstrate the value you place on key personnel while protecting your investment in their expertise and relationships.
Coverage Options
Tailored Protection Solutions
Our key person insurance solutions are designed to address the specific risks your
business faces, providing targeted protection where you need it most.
Revenue Protection
Cover lost profits and ongoing expenses during the transition period
Loan Security
Protect business loans and provide funds to meet financial obligations
Stakeholder Protection
Fund recruitment, training, and onboarding of replacement personnel
Determining Coverage Amount
The appropriate level of coverage depends on various factors specific to your business and the key person’s role. Our experts help you assess:
Coverage Calculation Example
| Annual Revenue Contribution | £500k |
| Replacement Cost | £100k |
| 2-Year Protection Period | x2 |
| Recommended Coverage | £1.1M |
*Illustration based on typical assessment factors
Implementation Process
Securing Your Key Person Coverage
1
Risk Assessment
Identify key personnel and evaluate their financial impact on your business operations.
2
Coverage Design
Determine appropriate coverage levels and structure policies to meet your specific needs.
3
Underwriting
Complete medical underwriting and finalise policy terms with competitive premium rates.
4
Implementation
Establish policies and integrate coverage into your broader risk management strategy.
Client Experiences
Trusted by Discerning Clients
When our technical director unexpectedly passed away, the key person insurance provided the financial stability we needed to maintain operations and recruit his replacement without compromising the business.
Sarah Mitchell
Chief Executive, TechForward Solutions
Key person insurance isn’t just about protection—it’s given our investors confidence that we’ve considered all risks. It’s been instrumental in securing additional funding rounds.
James Whitfield
Founder, Whitfield Industries
Implementation Process
Securing Your Key Person Coverage
Don’t leave your business vulnerable to the financial impact of losing key personnel.
Discover how our key person insurance solutions can provide essential protection.