Key Person Insurance, Partnership Insurance

Key Person Insurance

Keep corporate knowledge alive

Every business has crucial employees or associates upon which the prosperity and very survival of the company depends. Whatever systems you have in place, there will always be at least one person whose unexpected departure will result in an immediate, irrevocable loss of corporate knowledge, ideas, expertise, clients, sales or capital. Key people include:

• A founder, owner or partner who is crucial to business strategy, direction and decision-making
• A managing director who has vital experience and expertise specific to the business
• The entire management team which forms the operational backbone of the organisation
• A supplier whose goods are irreplaceable and integral to your supply chain
• Majority shareholders whose stock would need to be bought out and sold to remaining shareholders
• Salespeople or other employees who generate a large portion of business revenue and have extensive personal connections with major distributors or clients.

Key person insurance benefits include:

• Ability to secure loans and investments in your company from lenders and investors
• Cover for expenses associated with replacing the keyperson and/or extinguishing debts
• Ability to buy out the insured person's shares or interest in the company.

Partnership insurance is complicated and a keyman policy must be properly framed within a business continuation plan. This is to ensure the business does not stagnate following the death of a partner and that the transition to new ownership avoids the common pitfalls of prolonged 'in fighting'.

Your business continuation advisors

More than just a broker, Insurance House acts as your business risk partners and tailors insurance to your unique business situation. With the assistance of our Risk Management partners, Insurance House carries out a full exposure analysis and Risk Profile to identify and quantify the exposures you face. This is then reviewed annually for optimum coverage and savings.

A fully diversified risk specialist, Insurance House offers you a huge range of business insurance items. Our market knowledge and contacts give you optimum coverage and value for the widest range of risks.

You're covered with Insurance House Assist

We appreciate and reward the loyalty of our clients. In recognition we have created our exclusive Insurance House Assist program. Simply put, no other insurance broker in Australia offers such a rewarding loyalty program for its clients.

The benefits of Insurance House Assist:

• Save money by not taking out multiple assist programs
  
• Substantially discounted Roadside Assist - lower rates than competitors with better benefits
• Discounted Home Assist - lower rates than our competitors
  
• Free Audit of Life Insurance
• Discounted Travel Insurance
• Free Property Sum Insured Services
• Discount Security Services
• Your own dedicated personal Account Manager
• Backed by the worldwide resources of one of the world’s largest insurance companies, Allianz.

It's not easy finding an insurer that delivers such a well-rounded service to its clients. So start giving yourself full assurance that the value of your key personnel and partnerships is written into your business' future.