BUSINESS INSURANCE
Safeguard what you've built
Protect your business, your people and your future with advice from a team that sticks with you as you grow.
Shareholder Protection Insurance
Plenty of Kiwi businesses have more than one owner. If one of you became seriously ill, was badly injured or passed away, what would happen to their share of the business? Shareholder protection insurance can help provide funding for the remaining owners to purchase a departing owner's shares if a covered event occurs. When supported by an appropriate agreement, it can help provide clarity for the business and financial support for the departing owner's family or estate.
Is your business growing in value? Then it's worth asking: if something happened to one of your fellow shareholders, would the rest of you have the money to buy their shares? If the answer is "probably not", it may be time for a chat.
We'll sit down with you and your fellow owners, work out whether shareholder protection makes sense for you and how much you'd need, and help you explore suitable cover as part of your wider succession planning. It's often part of wider succession planning, and we'll keep reviewing it as your business grows.
Key Person Insurance
Your equipment and premises matter, but your people matter more. If someone critical to the business couldn't work because of serious illness or injury, or passed away, could you keep things running? Key person insurance can provide a financial buffer if someone critical to your business dies or experiences a covered illness or injury. Depending on the policy, the proceeds may help with recruitment costs, lost revenue or other expenses while the business adjusts.
Who are your key people? It could be an owner or an employee: your top salesperson, a director, or someone with skills that would be hard to replace. Anyone whose absence would put real strain on the business. It could well be you.
We'll take the time to understand how your business works and who it relies on, then help you put the right safety net in place. As your team changes, we'll help you keep your cover up to date.
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What our clients say
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Read our 5-star Google reviews
Discovery finance was super easy to deal with for our Insurance restructure. Highly recommend for your family or business!
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Clue HQ
Insurance client for 5 years
FAQs
Insurance questions answered
Still wondering about something? We're always happy to chat. Give us a call on 09 271 2570 or 021 048 3332, or send us a message.
What is shareholder protection insurance?
Shareholder protection insurance can help fund the purchase of a business owner's shares if they die or experience a covered illness or disability. It's often arranged alongside a shareholder or buy-sell agreement to help the remaining owners and the departing owner's family or estate understand what happens next.
What is key person insurance?
Key person insurance can provide a financial benefit to a business if an insured owner or employee dies or experiences a covered illness or injury. The payment may help the business manage lost revenue, recruitment costs or other financial pressures, depending on the policy.
Does my business need both types of cover?
Not necessarily. Shareholder protection and key person insurance address different risks, and some businesses may benefit from one, both or neither. We'll help you understand the options based on your business structure, ownership arrangements and the people your business relies on.
How much business insurance cover do I need?
That depends on your business. For shareholder protection, factors may include the value of each owner's shareholding. For key person insurance, you might consider the financial impact of losing a critical person, including lost revenue and replacement costs. We can help you work through these factors and review your cover as the business changes.
Can you help review our existing business insurance?
Yes. Whether your business has grown, taken on new shareholders or changed its key people, we can help review your existing cover and consider whether it still suits your needs.
Protect what you've built
So you can focus on growing your business, not worrying about the what-ifs.
Our family protecting your family since 2009
GET IN TOUCH
Discovery Financial Services Ltd
Building 8, 15 Accent Drive, East Tamaki, Auckland 2013
Tel: 09 271 2570
