We’ve teamed up with Michael Kennedy Insurance Group to bring you a 10 % discount offer for Essential covers for Directors and Owners of companies.

Being an Owner or Director of a company is very onerous and invariably you will find that they put the needs of their employees, customers, suppliers and pretty much everybody else before their own.  Most would not dream of trading without arranging insurance cover on their assets (Premises, Machines, stock, etc) or arranging Employers or Public Liability yet most will trade without arranging cover to protect themselves.

MKIG are offering 3 policies which every Owner or Director should consider having:

Income Protection
An income protection policy pays a benefit to the policyholder if they are unable to work due to accident, injury or sickness.  The benefit is paid after a number of weeks and lasts until the selected retirement date or until the policyholder returns to work, whichever happens first.

Directors and Officers Liability
This policy provides cover to defend actions taken personally against Directors by numerous parties including the likes of Regulatory Authorities, Shareholders, Customers and even competitors.

Take for example the recent implementation of the Companies Act 2014 which places greater responsibility on directors of companies and also provides a large range of enforcements which can be taken for breach of the Act.  This legislation permits that the directors can be sued personally as they can no longer hide behind the limited status of the company.

A Directors and Officers policy provides protection for the directors and officers of the company should they be sued personally.

Keyperson Insurance
Should a keyperson within the business get ill or die how would the company survive? You may have to hire somebody temporarily to run the company or you may have to “headhunt” an individual and pay them a sum of money over and above what they are currently paying to replace the individual who has died or is incapacitated.

A Keyperson Life and Serious Illness policy can be taken out by the company on certain key individuals. The benefits are paid to the company who can then use it as they see fit (e.g. pay the costs of temporary staff or fund increased salary of new staff, etc).

Should you wish to discuss any of the above in greater detail please have no hesitation in contacting Fergal Kennedy at MKIG directly.  You can call him on (01) 890 2277 or email fergal@mkig.ie.

Don’t forget to mention the SME Matters 10 % discount offer!