Business continuation insurance

Business continuation insurance,

Definition of Business continuation insurance:

  1. The insurance provides funds that the business would need to minimize disruption so it can continue its operations. It also helps businesses adopt and adhere to a specific succession strategy in the event of losing a key employee.

  2. Policy purchased by the partners in a firm (or the stockholders in a closely held firm) to fund the acquisition of the stock of a disabled or deceased partner (or stockholder) by the remaining partners (or stockholders).

  3. Business continuation insurance is a type of life and disability insurance that covers losses if a key executive, owner, or partner of a business dies or becomes disabled.

Meaning of Business continuation insurance & Business continuation insurance Definition