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Small to medium sized enterprises (SME) in the UK are now common place within almost every sector of business. Many SME businesses have been well established for a number of years and many are still in their infancy, but no matter how big or how long your business has been established for, as a business owner, director or shareholder you have the responsibility of making sure that your business is protected against many things. Insuring offices, commercial buildings, computer equipment, company cars, stock and materials are all important and most business owners have appropriate cover in place for damage to or loss of these. It is however much less common, but just as (If not more) important to protect your greatest asset - YOURSELF and any key employees within your business.

Business Protection Insurance


In securing the future of your business it is important to consider whether it could continue to trade or would suffer financially following the loss of a key employee or owner of the business? Is there a succession plan or exit strategy in place to make sure that your business would continue to run if you were no longer around and would the business have the necessary cash flow to replace any loss of profit or repay any outstanding loans, including directors’ loans?

Our ASure Business Protection specialists can help you to answer these questions and put the necessary steps in place to protect your business via a range of available business protection options outlined below. 


Within any business there may be one or more KEY individuals whose skills, knowledge, contacts and leadership contribute significantly to it's financial success, for example a Chairman, Managing Director, IT Specialist, Sales Manager or Marketing Manager. Key Person Protection helps a business to insure itself against the loss of such individuals due to death, diagnosis of terminal illness or the diagnosis of a specified critical illness. The policy proceeds are paid directly to the business, protecting it against potential financial losses that may result from having to replace a key person and from loss of profits or sales.


Losing a business owner can create uncertainty over the future of any business and may lead to financial difficulties. Share Protection allows surviving partners to remain in control of the business by providing the finance required to purchase shares following a business owners death, diagnosis of a terminal illness or the diagnosis of a specified critical illness condition. With no share protection in place the business owners shares may be passed onto their family, who may decide to become involved in the running of the business. The surviving business partners may even lose control of a portion or all of the business.


Many businesses in the UK today have outstanding borrowing including loans, overdrafts and commercial mortgages. The loss of someone within your business who is guarantor to an outstanding loan or debt can have serious implications. Proceeds from a business loan protection policy are used to pay off any outstanding debt that your business may have following a guarantor dying, being diagnosed with a terminal illness, or being diagnosed with a specified critical illness. 


Relevant Life Plans are designed to provide life insurance for employees of a UK business. This includes Company Directors who are salaried. A relevant life plan for an employee is paid for by the business and counts as a business expense. The policy pays a fixed, one-off lump sum if the employee covered dies or is diagnosed with a terminal illness during the policy term. Providing employee's with a relevant life plan could help to secure their family's future should the worst happen.