Running a business is rarely a case of absolute certainties.

That is why there are various forms of insurance available that might be able to help deal with those uncertainties should they come to pass:

  • Many organisations have difficulty, even in times of economic uncertainty, in retaining key staff.  Sometimes simply throwing additional salary at the problem is insufficient but things such as the group health-insurance schemes may be an added attraction to your employees;


  • such schemes allow you and your colleagues to obtain access to private medical health care should you need to.  In days when there are concerns about NHS waiting lists in certain areas, such a benefit may prove to be a powerful incentive for people to stay with your organisation;


  • these types of scheme may prove to be extremely cost-effective for an organisation to provide though, of course, they may need to be taken into account in terms of taxable benefit declarations to the inland revenue;


  • nor should it be the case that such benefits are seen as only applying to large organisations.  It might be equally possible to secure cover for an SME or even sole trader type business;


  • the issues associated with taxation for a company versus private schemes, in the case of some traders, may be complicated.  There are pros and cons and you should consult your accountant in order to obtain a view as to which may be the most efficient way to provide such cover in your individual circumstances;


  • a related form of cover for the small business is income protection.  As you probably appreciate, there may be many things that mean you are unable to continue running your business with perhaps ill health being one of the most obvious.  It is possible to secure cover that may enable you to continue to receive an income In such circumstances;


  • when speaking of key staff, there are also the problems that may arise for your business if a key individual dies or is taken critically ill and is unable to perform their duties. Cover exists to cope with some of the effects of such a situation arising, including the possibility to provide funds for the buyback of shares and so on.


Inevitably, this is only the briefest of outlines of just some of the business type insurance available from organisations such as Drewberry Insurance.  There may be other types of cover also available.

Running a successful business, however big or small, in part requires the ability to see problems before they arise and to put into place mechanisms to cope with them if they do happen. 

In essence, this is what these types of insurance product seek to help you with and having them in place just might help you sleep a little more easily at night.

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