Key person insurance is an important form of business insurance. There is no legal definition for 'key person insurance'. In general, it can be described as an insurance policy taken out by a business to protect that business for potential financial losses that could arise from the death or extended incapacity of an important member of the business specified on the policy.
Business Protection
Business protection is all about insuring for the unexpected. It's a way of protecting your business if something goes wrong.
One of the great risks of a business partnership is that one of the partners may die or suffer a specified critical illness, with his or her share of the business passing to their beneficiaries. The safety net is a pre-arranged scheme to ensure the surviving partners have enough funds to buy out the departed partner's interest in the business.
In the interests of financial security, business stability, and continuity - particularly for private limited companies where there may only be a small number of principal shareholders - it is important to provide a safety net following the loss of a shareholder
UK News
Nike and Apple were among brands worst hit, but Trump maintained the US economy would ultimately "boom".
Amazon, Oracle and the founder of OnlyFans are among names that have cropped up as the president seeks to broker a deal.
The Chief Executive of Eli Lilly has told the BBC that he is doubtful tariffs could bring manufacturing jobs to the US whilst raising billions in tax revenue
The business secretary says he wants to reach an economic deal but would take "necessary steps' if talks failed.
The brands are warning of the impact of employer National Insurance Contribution rises which kick in on Sunday.