Who’s the life and soul of your business? If you can name them, you probably need Key Person Insurance…
Most organisations employ at least one person who is critical to the future success of the enterprise - be it the original founder, a rainmaker, shareholder or some other “Key Person” with a particular skill or expertise. Key Person insurance protects you against the financial consequences of losing key staff members.
Issues to ponder….
Key Person Insurance provides a cash injection (either as a lump sum or as a flow of income) to your business if a key person dies or suffers a serious illness, allowing the business to continue trading at a time of considerable uncertainty and financial pressure.
Key person Insurance can cost as little as...
|40||5 Years||£ 250,000.00||Life Only||£14.59|
|40||5 Years||£ 250,000.00||Life or Critical Illness||£70.74|
|45||5 Years||£ 250,000.00||Life Only||£19.60|
|45||5 Years||£ 250,000.00||Life or Critical Illness||£104.58|
|45||5 Years||£ 500,000.00||Life Only||£35.74|
|45||5 Years||£ 500,000.00||Life or Critical Illness||£206.76|
|45||10 Years||£ 250,000.00||Life Only||£41.69|
|45||10 Years||£ 250,000.00||Life or Critical Illness||£248.53|
Among other things, Key Person Insurance can cover:
Already have protection in place? Great, but when was this last reviewed..?
Both your business and the economic situation have probably changed significantly in the past couple of years, meaning that the protection you put in place may now not reflect your business going forward.
Property: computers, audio visual equipment, offices
Consequential Loss: protects income streams during physical and technological disruptions (fire, flood, power & telecommunications failure)
General Liability: cover for compensation payments arising from damage to third party property or personal injury
Workers' Compensation: for injury and illness to employees and freelancers
Errors & Omissions: helping to defend you against allegations of libel, slander, infringement of copyright, breach of confidentiality
Directors' & Officers' Liability: protecting decision-makers against alleged mismanagement of the organization
Travel & Touring: trip cancellation, medical expenses, passport replacement, loss of baggage
Specialist Cancellation Insurance: cover against financial loss as a result of cancellation, abandonment, postponement or re-scheduling of an event. As an artist manager, you can opt to insure your highest earning artists/authors with a “friends and family” type policy – entirely flexible and designed to cover areas where your income is most vulnerable - without breaking the bank. Some problems are worth losing sleep over. We believe insurance isn’t one of them. More >
We understand you so well, we'll complete the form for you if you prefer! Let's talk...Download: Arts & Entertainment Brochure
Quote within 24 hrs
The arts present a very specific set of risk exposures – and now your digital and online risks can expose you globally. We understand the risks and pressures you face - and we speak your language. We’ll support you with great advice - helping you make good decisions for your organization.
Our policies can help streamline costs, and we’ll always help you stay ahead of the game in managing risk. The show must always go on - insurance isn’t just about processing a claim, it’s about thinking laterally to solve challenges and problems fast.
At La Playa, we’re passionate about the arts and creative industries – many of us are practitioners and active consumers; in fact, La Playa founded the first ever corporate art collective!