Business Insurance

Director and Shareholder Protection

As your business grows it is important to have succession planning. Often businesses come under pressure when a director or an owner dies or becomes unable to work due to illness. A buy/sell agreement supported by effective insurance cover can be a cost effective way to pay out a shareholder and his or her family, and ensure the business continues to run smoothly for those left behind.

A buy/sell agreement is a tool to protect and facilitate the transfer of ownership of shares in the business, so an effected shareholder and their family or estate can realise in cash, the value of their shares, should the shareholder die or suffer a major and traumatic event that stops them participating in the running of the business.

Key Person insurance Cover

Every kiwi business from the largest enterprises to the smallest operations, rely on its key people to continue to run and generate profit. 

Key Person Cover is when a business recognises the importance of certain staff to the success of an enterprise and so insures them to offset the financial impact of this key person being rendered unable to fulfil their role within the business.

Income protection Cover

Income Protection cover (including Mortgage Protection, which will cover mortgage payments) replaces your income when you cannot work. Your ability to generate income is your greatest asset, and with income protection you can rest assured you can continue to earn if unforeseen injury or illness occurs. This type of product will pay you a set amount every month, to replace the income lost while you are too sick to earn. You can choose the benefit pay out for a set period, or until you would have retired at age 65.

Plants & Tools cover

Starting a business and then protecting your plant and tools is a key component to ensure business continuation no matter what happens in the future. Your plant, machinery, equipment and tools are crucial to the operating of your business. Protecting these things is crucial, and Spratt Insurance can offer you the best cover available, uniquely catered to your business and its specific needs.

Employee BenEfits

Starting a business and then finding and attracting the right staff to grow it are some of the biggest challenges you will face. It makes sense to protect your employees, as well as reduce the associated costs to your business, should something happen to them. Insurance cover for employees is a great tool to protect both your business and your investment in it. At the same time you can boost staff retention by rewarding them with group cover benefits.

Professional Indemnity Insurance

Indemnity Insurance is a way that you, your business and your employees can be protected against the consequences of wrongdoing, misconduct or negligence. Indemnity Insurance is extremely highly recommended for large or small businesses that provide services or consulting. If a claim or lawsuit is brought against you, indemnity insurance can cover your legal costs and even compensate for any awards made against you. There are also specially designed indemnity insurance packages for barristers, solicitors, IT professionals, directors, trustees and charitable trusts. Just drop us a line, and we can give you all the information you need to find out how indemnity cover can benefit you today.