Business / Corporate
Strategic Business Protection Solutions
Addressing critical business needs - from Key Man insurance and shareholder protection to staff retention strategies for senior and executive-level personnel.
Keyman Agreement
What constitutes a Keyman arrangement?
The essence of key person insurance lies in safeguarding your enterprise in the event of the demise of a pivotal employee, suitably referred to as a 'key person' within the policy framework.
This insurance avenue allows for the acquisition of a policy covering any member of your team, including yourself, who assumes the role of the insured party. However, the company stands as the beneficiary, diverging from the typical beneficiary structure oriented toward personal relationships. Moreover, it is the company that assumes ownership and bears the financial responsibility for the policy, rather than the insured party.
Keyman Protection
Why is Keyman protection significant?
This insurance category serves as a shield against financial vulnerabilities during the transition period imposed by the loss of a key employee, affording the opportunity to locate or train a suitable successor.
Shareholder Protection
What constitutes Shareholder protection?
In the event of the passing of a significant shareholder, the transfer of their stake automatically redirects to their estate. Subsequently, ownership and control may be entrusted to family members lacking interest or divergent visions for the company's future, potentially with limited or no experience. Alternatively, the shares might be sold to an outsider disinterested in preserving the enterprise's ethos.
Shareholder protection insurance serves as a structured mechanism to delineate a clear succession strategy and furnish adequate financial support to facilitate the seamless transfer of ownership to surviving shareholders.
Typically, surviving shareholders aspire to acquire the remaining shares to uphold control and continuity within the business. However, two obstacles often impede this objective: the delay imposed by probate proceedings and the challenge of securing sufficient capital to procure the shares. Shareholder protection insurance evades these hurdles by establishing a contractual agreement among key shareholders.
This insurance holds pivotal significance not only in preserving the fundamental ethos of a firm but also in mitigating disruptions and uncertainties within the business landscape. Shareholder protection insurance is specifically tailored to facilitate seamless business continuity, ensuring uninterrupted trading operations despite such contingencies.
Key Staff Retention
How can businesses effectively retain key personnel?
Businesses often find themselves engaged in significant projects or harbor the desire to retain crucial employees for specified durations. The prospect of these staff members being lured away by competitors or enticing offers elsewhere poses a tangible risk, potentially disrupting ongoing projects and adversely impacting the company's trajectory.
Nevertheless, offering these employees additional incentives to remain with the company for the designated period, with the promise of eventual ownership, serves as a potent strategy for retaining key staff. This approach not only reinforces employee retention but also allows the company to maintain control and ownership of valuable assets throughout the duration.
Employee Benefits
Will Writing as an Employee Benefit
For businesses operating in the UAE, offering will writing as part of an employee benefits package is a meaningful and practical way to support your workforce. Many expat employees have not yet put a UAE will in place, leaving their families exposed to significant legal and financial risk.
Kingsman Associate works with companies to design and deliver group will writing programmes, coordinated from consultation through to registration. Employees can arrange individual wills or mirror wills with their partner, all handled with complete confidentiality by our specialists.
Whether you are an employer looking to introduce this benefit or an employee who would like to raise it with your HR department, we would be happy to discuss how we can help.
Book a ConsultationGroup will writing programmes
Structured sessions for employees to complete their UAE wills, coordinated by Kingsman Associate from start to registration.
Single and mirror wills available
Employees can arrange individual wills or mirror wills with their partner, all as part of the same programme.
Confidential and professional
All will instructions are handled with complete confidentiality. Employees deal directly with Kingsman Associate specialists.
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