Key Insurances for Company Directors

businessman-in-office-insurance-cover

Being an owner or director of a company is very onerous and invariably you will find that the owner / director puts the needs of their employees, customers, suppliers and pretty much everybody else before their own.

Most directors 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 in respect of themselves.

We list below 3 policies which every owner and/or director should consider:

 

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.

In the event of being injured at work most owners will struggle to have an employers liability claim paid through the courts given they are highly likely to be the one who was in control of health and safety within the business.

Income Protection provides a guaranteed income for the owner / director of the company should they become unable to work due to any accident, injury or sickness whether work related or not.

 

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 new Companies Act 2014, which places greater responsibility on directors of companies and also provides a large range of enforcements that 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 ? They may have to hire somebody temporarily to run the company or they 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 us on (01) 890 2277.

 

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Vacancies Available with MKIG

job-vacancies1

 

Due to continued expansion Michael Kennedy Insurance Group a well established brokerage in Swords, Co. Dublin has the following vacancies for highly motivated, energetic and disciplined candidates:

 

Commercial Lines Support Administrator ( Reference CL1 )

The role will include working closely with the managing director in assisting and dealing with a portfolio of Renewal and New Commercial SME, Property, Liability and Motor Insurance policies. In addition the candidate will be required to administer all day to day queries as they arise along with the promotion and cross sell of other products.

The ideal candidate will :

  • Be Self Motivated
  • Have Strong attention to detail and organisational skills
  • Have previous commercial experience ( broking would be an advantage )
  • Have a CIP qualification ( or working towards ) or be grandfathered
  • Be fully CPD compliant
  • A working knowledge of Relay would be an advantage.

 

Commercial Lines New Business Executive ( Reference CL2 )

The role will involve the sourcing and placement of new Commercial, SME, Liability, Motor Fleet and other ancillary Insurances using our large panel of insurers.

Reporting to the Managing Director the ideal candidate will :

  • Be Self motivated and Results Driven
  • Have strong attention to detail
  • Have at least 3 years business development experience
  • Excellent sales ability and telephone manner
  • Be a minimum CIP qualified or grandfathered
  • Be fully CPD compliant
  • Have a full clean driving licence

 

Financial Services New Business Executive ( Reference FS1 )

The role will involve the sourcing and placement of new Protection, Pension, Investments and other financial services to new clients and contacts.

Reporting to the Managing Director the ideal candidate will :

  • Be Self motivated and Results Driven
  • Have strong attention to detail and market knowledge
  • Have at least 3 years business development experience in a similar role
  • Excellent sales ability and telephone manner
  • Be a minimum QFA qualified or grandfathered
  • Be fully CPD compliant

 

Please send your CV noting the position you are responding to in strict confidence to :

Fergal Kennedy, Managing Director

Michael Kennedy Insurance Group

Email : fergal@mkig.ie

Download MKIG Winter Newsletter

Welcome to our Winter 2015 Newsletter

In this issue you will find details on our special offer on gadget insurance, news of recent exam success by our colleagues, some information on insurance policies specific for company directors, along with details of the prize winners of our recent draws.

We hope you find the bulletin informative and should you have any suggestions for future editions please let us know.

Click the link below for the full issue.

 

pdf  MKIG Winter 2015 Newsletter