Global cyber-attack warned as a "Wake-up Call". Is your business suitably protected?

There has been a lot of press recently about the global cyber-attack, notably impacting the NHS throughout the UK. The impact an attack could have on an unprotected computer system could be catastrophic, and we are sure this potential risk has resonated with many business owners checking their disaster recovery protocols.

This got us thinking, what is the disaster recovery protocol in place for your business if the disaster is the loss of your best staff member?

53% OF BUSINESSES BELIEVED THEY WOULD CEASE TRADING IN LESS THAN 12 MONTHS FOLLOWING THE DEATH OR CRITICAL ILLNESS OF A KEY PERSON.

(SOURCE: LEGAL & GENERAL STATE OF THE NATION'S SME'S REPORT: FIFTH EDITION)

The financial impact caused through a death or critical illness of a key person in the business can be mitigated if appropriate advice is taken to implement an appropriate amount of key person insurance cover in the most tax efficient structure.

What will this solution do?

In the event of the disaster happening:

1. Funds quickly provided by the insurance company for the business to steady the ship
2. Plans can be put in motion to replace the lost person
3. Other employees and stakeholders have comfort the business has not been irreparably damaged
4. The business can continue to trade with the financial impact minimised

Is this causing you to have a Wake-up Call?

Contact our specialised advisers on 028 38 338 000 or info@bpsuk.co.uk today to discuss how we can help you.