Many companies spend large amounts of money insuring their plant, stock and machinery, but often overlook their greatest asset – their most valuable employees who are key people in their business.
A key person is any person in your business whose sudden loss would have an impact on your company’s wellbeing. Without this person, your business could suffer significant disruption.
The loss of a key person through death or disablement can have a significant impact on your business, resulting in significant damage to your bottom line, operations and reputation. In a recent Mercer Marsh Benefits Five Pillars of People Risk Report, 67% of respondents deemed it likely that a key person risk would affect their business within the next 3 years, and 55% stated that the loss of a key person would have a high impact on their business. Our team of Personal Risk advisers can partner with you to find the right solutions to protect your business. We can help you:
Consider what would happen to your business if one of your key employees were to pass away, or become permanently injured or disabled. Who would replace them? Would your revenue or operations be jeopardised? If the answer could be yes, then you should consider putting a plan in place to manage this.
The impact of ill health or death of a Key Person on business can be significant. Mercer Marsh Benefits can help to protect what is often the most valuable asset and biggest risk of a business - people.
