Business Succession Planning

Many enterprises allocate substantial resources to insure their physical assets such as plants, stock, and machinery, yet often overlook their most valuable assets—their key personnel, who play pivotal roles in their operations.

How can we help?

Many enterprises allocate substantial resources to insure their physical assets such as plants, stock, and machinery, yet often overlook their most valuable assets—their key personnel, who play pivotal roles in their operations.

A key individual within your organization is someone whose sudden absence could significantly affect the company's stability. Such a loss could lead to considerable disruptions in business operations.

The untimely demise or incapacitation of a key figure can profoundly impact the organization, resulting in substantial financial losses, operational disruptions, and damage to reputation. According to a recent Mercer Marsh Benefits Five Pillars of People Risk Report, 67% of respondents anticipate that key personnel risks will affect their businesses within the next three years, with 55% acknowledging that the loss of a key individual would exert a significant impact on their operations.

Our team of Personal Risk advisers stands ready to collaborate with you in identifying appropriate strategies to safeguard your business interests. We offer assistance in:

Assessing key personnel and human capital risks inherent in your business, and furnishing actionable insights and recommendations.
Identifying optimal insurance solutions and negotiating competitive rates on your behalf.
Guiding you through unforeseen circumstances, allowing you to concentrate on business expansion.

Partner with us to fortify your business against potential disruptions and ensure its continued growth and success.

What constitutes group health insurance?

Group health insurance stands as a category within health insurance policies, typically financed by businesses, aimed at covering the medical expenses of their workforce, including surgeries, diagnostic procedures, and medical treatments.

It serves as a means for companies to extend access to private healthcare benefits to their employees under a unified policy, catering to businesses with five or more staff members.

Group health insurance presents a notable advantage in cost efficiency compared to individual private health insurance, owing to the distribution of risk across a larger pool of individuals.

Depending on the group's size, employer-subsidized health insurance may entail discounted rates, with provisions for family members to join. Typically, the policyholder is the employer, while the beneficiaries encompass employees and their immediate family members, should they opt to enrol in the group insurance plan.

What are the merits of group health insurance?

Group health insurance is regarded as one of the most appealing employment benefits that New Zealand businesses can provide to their staff.

Employees under corporate health insurance experience a 54% reduction in wait times for elective surgeries, contrasting starkly with individuals lacking private health insurance. Moreover, insurance coverage fosters peace of mind amid uncertain circumstances.

Outlined below are several benefits of group medical insurance for your enterprise.
Group Health Insurance Coverage / Group health plans typically encompass:

Private hospital surgical procedures and in-hospital nursing care.
Cancer surgeries and treatments, including chemotherapy, radiotherapy, and brachytherapy.
Consultations with specialists.
Diagnostic imaging services such as X-ray, ultrasound, CT scan, and MRI scan.
Psychiatrist consultations and mental health support.