Key Person & Partnership Protection

Key Person protection insurance can be taken out to compensate a business for financial losses in the event of the death or extended incapacity of the member of the business. It also facilitates greater business continuity by providing the financial support to make alternative arrangements.

Key Person protection does not protect against the actual losses incurred but compensates with a fixed monetary sum as specified on the insurance policy.

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The basics

There are four categories of loss for which Key Person Protection can provide compensation:

  • Losses related to the extended period when a key person is unable to work, to provide temporary personnel and, if necessary to finance the recruitment and training of a replacement.
  • Insurance to protect profits. For example, offsetting lost income from lost sales, losses resulting from the delay or cancellation of any business project that the key person was involved in, loss of opportunity to expand, loss of specialised skills or knowledge.
  • Insurance to protect shareholders or partnership interests. Typically this is insurance to enable shareholdings or partnership interests to be purchased by existing shareholders or partners.
  • Insurance for anyone involved in guaranteeing businesses loans or banking facilities. The value of insurance cover is arranged to equal the value of the guarantee given by the key person.


If you would like to discuss your requirements:

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