Every business depends on a few people. It's worth knowing what would happen if one of them couldn't be there.
We help business owners look at their risks the way a partner, a lender, or a surviving family would. Then we help put coverage and agreements in place that fit, and review them as the business grows.
One company's plan for the day no one wants to think about.
Luis, Beth, and Andre own a commercial landscaping and construction company together. Kayla, their operations manager, holds many of their biggest client relationships. Follow their plan in six chapters.
An illustrative business. Names, figures, and details are hypothetical and do not represent an actual client. Coverage depends on individual circumstances and underwriting; agreements are drafted by your attorney.
If something happened tomorrow…
Start with how the business is owned
We began by mapping how the company is owned, what each partner wants for the business and their family, and what would happen to both if one of them were suddenly gone. For a company with three owners and one irreplaceable manager, the answers pointed to real risks.
What we do
Evaluate your business and personal insurance needs based on your ownership structure, financial goals, and potential risks.
What you leave with
A clear picture of your risks, owner by owner.
Look at what's already in place
The only policy connected to the business was one Luis bought years ago for a bank loan. It named his wife as beneficiary, so it would help his family, but it wouldn't give his partners the cash to buy his share. There was no coverage at all for Beth, Andre, or Kayla.
What we do
Review your existing policies and coverage to identify gaps, overlaps, or opportunities for improvement.
What you leave with
Every policy reviewed, with its gaps and overlaps identified.
Protect the people the business depends on
If Kayla left or passed away, the company could lose key clients and months of revenue while finding someone new. We evaluated key-person coverage for her, and reviewed life insurance strategies for each of the three owners.
What we do
Review life insurance strategies for business owners, executives, and key employees, and evaluate key-person insurance to help protect the business from the financial impact of losing a critical employee or owner.
What you leave with
Coverage considered for the people your business can't easily replace.
Fund the buy-sell agreement
The partners had talked about a buy-sell agreement for years but never signed one. We reviewed their continuity risks and funding needs, and worked with their attorney to structure an agreement, so that if an owner leaves, retires, or passes away, there's a plan and a source of cash to carry it out.
See the difference
What we do
Review business succession and continuity risks and identify potential funding needs, and help structure buy-sell agreements to provide liquidity when an owner leaves, retires, or passes away.
What you leave with
A plan for each owner's exit, and a way to fund it.
Connect it to the bigger picture
The buyout price in the agreement needed to reflect what the business is worth today, and each owner's estate plan needed to expect it. We tied the coverage to a current business valuation, and coordinated with their attorney, CPA, and insurance professionals so every piece fit together.
What we do
Coordinate insurance planning with estate planning, business valuation, and succession strategies, working with insurance professionals, attorneys, CPAs, and other advisors so your insurance strategies fit within your broader business plan.
What you leave with
Insurance, valuation, estate plans, and succession working from the same numbers.
Review it as the business grows
Two years later, the company had grown, and so had the value of each partner's share. At their regular review, we compared their coverage to the new valuation and adjusted it to match.
See the difference
What we do
Regularly review your coverage as your business, ownership, and financial circumstances change.
What you leave with
Coverage that's revisited as your business grows and changes.
Chapter 1 of 6
Coverage that fits the whole business plan.
Business insurance works best when it's built alongside the agreements, valuations, and estate plans it's meant to support. We coordinate each piece with the professionals who handle it.
Your attorneyDrafts the buy-sell agreement, and the estate documents that work with it.
Your CPAAdvises on how policies are owned, and how they're treated for taxes.
Insurance professionalsUnderwrite and place the coverage, with our coordination.
