Business Protection

Is your business fully protected?

Take a few minutes to run through these questions and see how protected your business really is.

Which of the following would damage your business the most?
  • Company car is stolen
  • Someone steals the computer
  • The photocopier breaks down
  • A window is broken by vandals
  • One of the business owners suffer a heart attack
  • A business owner, director or partner suddenly dies.

It’s the people that make your business run smoothly, and without them (or even yourself) your business would have a hard time functioning.

Are you insured for the most damaging events?

Running a business always involves an element of uncertainty. Premises can be rebuilt, content and material assets can be replaced, but the recovery of a person is not nearly as certain. This all makes it especially important that you have the relevant protection policies in place to help ensure that your business can survive the loss of an individual, including yourself.

Ask yourself these questions:
  • Does my business rely heavily on key individuals?
  • Could my business survive without those individuals?
  • What if a director/partner were to die or be diagnosed with a critical illness?
  • How would I retain control of the business?
  • Do I have a written agreement in place as to what would happen?
If a key person were to die or was diagnosed with a critical illness:
  • How would your staff feel?
  • How would your customers feel?
  • How would your bank manager feel?
  • How would your competitors react?
  • How would your debtors react?
  • How would your creditors react?
These people might then have some important questions to ask you, such as:
  • How much money would you need to keep the business going?
  • Where would this money come from?

Cottons Corporate Advisers will help you to implement a full Business Protection plan for your business, undertake a protection tax review, facilitate a referral to arrange a Company Will, undertake checks with your accountant and HMRC to ensure correct accounting for cover and review arrangements regularly to keep pace with your business.

Please note that where a referral to an alternative service is necessary, they will be separate and distinct to those offered by St. James’s Place. Wills and trusts are not regulated by the Financial Conduct Authority.

Need Business Protection?