Jack of all trades
Having good small business insurance allows small businesses to operate with peace of mind. According to Business Link if your business relies heavily on one or two members of staff, there can be serious consequences for the business if they become ill or die. Small businesses in particular are often dependent upon a key person for generating sales, managing a vital client or are simply reliant upon the key person's expertise.
You can take out a policy, often called key person insurance, that makes a payout to the business should the key person die or, with critical illness insurance, be diagnosed with a serious disease. The amount of money paid out is usually set in advance at a level estimated to be the potential financial loss to the business.