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Key Man
What is Key Man insurance?
It is business-specific insurance that covers financial losses incurred by a business due to the loss or incapacity of its key employees.
Explanations
Key employees can include executives, senior managers, technical experts, etc. Financial losses can result from loss of turnover, additional costs to replace the key employee, etc.
Important to know
It is important to understand key person insurance needs for businesses and consult an insurance broker or insurance advisor to assess needs and find a suitable policy.
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