Business Continuation Insurance New York
What would your business do if something were to happen to you? What would your business do if something were to happen to one of your partners? Business continuation planning, also known as succession planning, is a critical part of protecting your business and preserving it for the future of your family.
When you are working hard to build your business, you don’t give any thought to how the business would operate without you. You need contingency planning for events such as:
- Your untimely death
- The possibility that you could be disabled
- The death of your partner or financial backer
Business continuation planning is something that we have years of experience with and it is a natural part of what we do. As a risk and insurance company, our job is to create contingency plans that protect your family and your assets. Business continuation planning could be the most important kind of contingency plan that you ever put together.
When we work with you on a business continuation plan, we make sure that your beneficiaries are provided with enough funds to:
- Operate the business while transition plans are made
- Purchase your shares of the business from your partners
- Meet the company’s financial obligations during a difficult time
We will work with any shareholders or partners to develop a buy-sell agreement that will allow your company to stay in your family, or be purchased by your surviving partners. We will work with you to find the proper ways to fund that continuation plan and get the proper financial vehicles in place to make sure that your final wishes are met.
Our experts will also evaluate any potential risks with a continuation plan and make arrangements to have the funds available in the event that something should happen to threaten the financial security of your business. We will get into the negotiation process for you and make sure that all of your interests are protected.
As a risk and insurance company, our job is to prepare for the contingencies that no one wants to think about. But we can work with you and create a plan that will give you peace of mind and help your family if anything should ever unexpectedly happen to you.
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