Blog: Consider key person insurance to help mitigate your business risks
While your business is likely insured against property damage or theft, have you also protected your business's most important asset, its key employees? Lost furnishings and fixtures are likely easily replaced, but key employees can be nearly irreplaceable. That's why forward-thinking business owners purchase what's called key person insurance to cover themselves against financial loss if a key employee were to die or became unable to work due to disability or illness.