Business Continuation Insurance

For many small- and medium-sized businesses, business continuation insurance serves as a useful element of succession planning and can be a vitally important part of a business continuity plan. Usually consisting of life and disability policies structured to meet the business continuity needs of the owners of a business, should a partner die or become unable to participate in a company’s ongoing operations, these policies are payable per the terms of an ownership transition contract – typically either a buy-sell, cross-purchase or entity purchase agreement. Business continuation insurance is a risk management strategy that enables remaining business partners to move forward.