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The Need to Protect your Business

Many businesses insure themselves against different forms of risk whether it be to cover their fleet, their premises or their infrastructure.

To most business owners though, the most valuable asset in their company are the people that work in it, the intelligence they bring and the skills they possess.  

So the statistics presented in the video to the left are very surprising.

Does your business have any forms of the protection mentioned such as keyman cover, loan protection or shareholder protection?

If you do not, then you really should consider speaking to Avenir to talk about where the risk is in your business.

If you have cover, when was it last reviewed?  Things change quickly with businesses, so is it still appropriate?

There are also new products available to meet business needs that may be more suitable.


Why are we not Protecting our Businesses?

Source: England and Wales Life Tables, Office of National Statistics, 2011. These percentages are based on the average life expectancy for male and female lives at these age ranges. 


Source: Munich Re 2007


Many businesses owners are simply not aware of the chances of something happening to one of their fellow directors or employees.  Many would not know that solutions exist to help provide funds when a business needs it most.

The table shows the probability of something going wrong in regards to the death of a member of staff/co shareholder whilst employed in the business.

Can your business afford to not consider the steps to addressing this risk?

This table shows the chances of suffering a Critical Illness for a group of 4 working people during their working life (18-65).

As you can see, for a business where there are 4 male shareholders or directors, there is a more than 2 in 3 chance of one of the individuals suffering a critical illness. Does your business have an appropriate solution to mitigate this risk?  If not, you need to speak to the business protection experts.



To find out more, you can access the following pages by clicking - Shareholder Protection, Keyman Cover, Tax Efficient Life Cover

A Liability Audit from Avenir will look at all of the above within you business.  

Please call us now on 01934 251822 to book your appointment.

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