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North East Business News

Northern Insight Magazine provides you with the latest business news from companies throughout the North East. Discover business award wins, emerging markets and other business commentary about your fellow North East businesses to keep you in the know. Learn more below.

Featured Article
Business / Insight

A Key Lesson

Issue 59

I am sure that we have all learned a lot but there is an area where financial advisers have struggled to make much inroad despite there being a clear need. That is the area of corporate protection. Companies have always been aware of the need to insure their buildings and equipment but there generally has been a reluctance to insure the person behind the desk, even if the desk is insured. And yet the consequences of losing a key employee, through death or incapacity, are much greater. If a business is deprived of knowledge or production ability the knock-on effect is loss of profit and viability. Contracts could be lost, and bank funding withdrawn. The potential consequences could be dire. So why have employers been reluctant to engage in protecting their businesses? I believe that there is the “It will never happen to me” syndrome in play. The key employee…

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