Guide Me Home Limited is an innovative specialist IT Company that delivers a personalised GPS guidance system. The software designer is Richard Axelrod, who is the company's Chief Technical Officer.
The business relies heavily on the specialist skills and IT knowledge in his product design for the profitability of the business, and the shareholders are aware of this.
In the unfortunate event of Mr Axelrod becoming critically ill or dying, the business would enter a period where innovation and new products would take a back seat to ensure the business continues with minimal interruptions. In addition to this, the business will need to recruit a replacement which could take some time, due to the specialist knowledge required.
Opting for Business Protection cover could provide the funds to help deal with these issues.