Business owners often have financial risks that differ from those faced by employees. The success and continuity of a business can depend on the health and availability of key individuals, including owners or senior staff.

Several types of insurance may be considered by business owners. Key person insurance can help protect a business from the financial impact if an important team member becomes seriously ill or passes away. Shareholder protection insurance can help ensure a clear process exists if a shareholder exits the business due to illness or death.

Some business owners also consider debt protection insurance, which can help ensure business loans or obligations can continue to be serviced if a key individual cannot work.

The types of cover that may be appropriate will depend on the structure of the business, the roles of key individuals and the financial commitments of the business.

Regularly reviewing business risks and protection strategies can help ensure the business remains financially resilient.

We specialise in business insurance and often work alongside other professional advisers, including lawyers and accountants, to ensure protection strategies are structured appropriately. We support many business owners across Auckland and throughout New Zealand to help ensure their key risks are properly protected.

If you’d like to have a chat about how we can help, please feel free to contact us: hello@solutionsfinancial.co.nz

Please note this information is general in nature and should not be taken as personalised financial advice. We recommend you should seek appropriate personalised advice to suit your individual circumstances.