While the law determines that certain forms of insurance cover are mandatory, there are other non-compulsory types of insurance that are worth considering seriously.
- Business interruption
This insures you against loss of income and additional expenses incurred as a result of your business operation being disrupted. If your premises were damaged so you could no longer provide care for children, this cover would provide for loss of fee income.
- Key person insurance
This helps protect your business in the event of the death or disability of a key employee. Benefits can include protection against a fall in profits, salary for a temporary manager and costs for recruitment and retraining.
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