A guide to Share Protection and Partnership Protection

Share Protection and Partnership Protection is sometimes referred to as ‘Owner’s Insurance’ and helps business owners keep control of the company if one of them dies or is diagnosed with a critical illness. The cover depends on the business set-up.

  • Share Protection is for limited companies.
  • Partnership Protection is for partnerships and limited liability partnerships.

Losing an owner can have a huge impact on the day-to-day running of a business, and can quickly result in financial difficulties. Boardroom confusion can lead to conflict in decision making, as the surviving owners and the deceased’s family may have very different ideas about the future of the business. Other potential problems include:

  • If the shares are sold on the open market, a new business owner could take-control of the day-to-day running of the business. That new business owner could be a competitor or completely unsuitable for the business.
  • If the deceased owner’s family are willing to share the shares, the surviving owners could have trouble raising the finances and disagreements over the terms of the sale could lead to further difficulties.
  • Uncertainty over ownership may cause banks and investors to restructure or cancel funding.

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