Keep your business safe with shareholder protection insurance
The most important cog in the wheel of any successful business is the people who work for it, and this is always the case in the boardroom where crucial decisions are made. Those who have a major stake in the company, and therefore some vital input, can easily make the difference between an average year and a sensational one.
In the event of the death of a key shareholder, the continuation of the status quo can be extremely hard to maintain. And if that individual’s shares are left to his or her estate then they could be taken up by family members who have little or no interest in the company. Worse, they could try to change the way things are done, potentially resulting in major and unwanted upheaval.
It might even be the case that the estate has no interest in having the shares and would wish to sell them to an existing shareholder. This may be just fine in many cases, but of course there will be a wait for probate to take its course. All in all, this can be a messy affair that could prove extremely detrimental to the overall health of the business.
There is a solution, however, and it’s one that Insured Right can help you with. Shareholder protection insurance would allow you to have peace of mind if a major shareholder dies, thereby enabling business as usual for the everyday running of the company. This type of policy is one of many professional insurance products, and it’s one that could benefit your organisation immensely.