Business Risk Insurance

Key Person Insurance
How would your company survive if a key employee dies or suffers a severe illness? With Key Person or Key Man Insurance, the insurance policy on its key employee(s), the company is responsible for paying the premiums, and is the beneficiary of the policy. If the employee unexpectedly dies, the company receives the insurance payout.

As the business is the beneficiary under the Key Man or Key Person Insurance Policy, once a claim is accepted, the company receives a fixed monetary sum for financial losses that could arise from a critical business member’s death or significant illness.

The payout can be used to help compensate the company for lost income, loss of opportunity to expand, loss of specialised skills, or losses resulting from the delay or cancellation of any work that the key person was involved in.

Buy Sell Insurance
What will happen to your business if your partner unexpectedly passes away or becomes permanently ill? Could you operate your business with an unqualified or unwanted business partner? Buy-Sell Insurance provides added protection to reduce risk and protect you and your business.

A Buy-Sell Insurance Policy, also known as a “business will” or a “buyout”, is a legally binding agreement between business shareholders. If your business partner or co-owner dies or is forced to leave the business due to an accident or illness, the co-owners share of the business ownership will typically pass to you. Buy-Sell Insurance will pay them or their beneficiaries out at the market value of their shareholding.

Claims Management
What if something does happen in your business? We pride ourselves on a professional, thorough, and personalised approach to managing your business insurance claim. If you need to lodge a claim on your policy, we are here to help you throughout the process.

With over 20 years of insurance claims management experience, we understand the importance of dealing with such matters as simply as possible.
We understand the information your business insurance provider requires to help fast-track settlement.

Our team of business insurance specialists will meet with you and help you complete the claim form for faster processing and settlement. Once your paperwork has been finalised, we’ll lodge the claim and follow up with the insurance provider to help expedite payment. We’ll also represent you and your business and negotiate on your behalf if necessary.

Claim Management is a critical part of our service – and our point of difference at Morrows Risk Insurance.