The protection of a Business Asset is often catered for through insurance, buildings insurance, vehicle and liability is a basic requirement for any business. However an area that many business's neglect is the area of covering individuals who are key to the on going well being of a business is critical. In addition of ownership on a death of retirement also requires specific advice planning. We at Orca Financial have years of experience in this area and can provide specialist advice is the following areas.

• Keyperson Protection
• Co-Shareholders Protection
• Partnership Protection

THE LOSS OF KEY PERSONNEL

Management Expertise

Management expertise, experience and contacts are often the most important assets of a business. It is the difference in the quality of management expertise that explains why some businesses prosper while others fail.

The Loss of Key Personnel

Statistics show that over 90% of business failures result from management breakdown. In many such cases it is likely that failure results from the sudden loss of key personnel.

In particular the sudden death of a key person could give rise to a number of immediate financial pressures for the company:

• the 'calling in' of company loans, in particular any to which the 'keyperson' had given a personal guarantee
• a costly interruption in business
• a loss of business contacts
• extra resources may have to be committed to the recruitment and replacement of the keyperson.