Accidental Death Policy - Private Equity Firm
A private equity firm based in Minnesota is poised to secure additional assets with the purchase of an industrial facility in Mexico City.
Six of the company’s top-level executives are set to travel on the same flight to tour the plant the firm plans to acquire. All parties have a major impact on the financial health and growth of the business. Should something go terribly wrong in the air or at the work site, the loss to the company would be disastrous.
Since the group comprises a significant and concentrated amount of importance in terms of the overall business, their shared itinerary calls for catastrophic travel coverage. It is evident that the company needs a policy in place to protect its most valuable asset: its leadership.
Exceptional Risk Advisors designed and wrote an accidental death policy for the company’s 3-day business trip that included flight risk. The policy would deliver a $7.5 million benefit per insured to the policy owner. Key firm members were covered while flying to and from the facility and while touring the plant’s work zone, where they were required to wear protective gear. The policy carried an aggregate of $45 million.
As a result of purchasing this policy, the company felt secure enough to move forward with the acquisition process and was able to successfully seal the deal on a substantial business venture.