Key Employee (key Person)
Definition of "Key employee (key person)"
Individual who possesses a unique ability essential to the continued success of a business firm. For example, this individual might have the technical knowledge necessary for research and development of products that keep the company at the cutting edge of its field. The death or disability of this key individual could severely handicap the company.
Popular Insurance Terms
Person covered by insurance under a blue cross or blue shield plan. ...
Life is unpredictable so to compensate this, people have invented insurance. Insurance deals with unforeseen events. Sometimes insurance companies cover only a part of your losses and a few ...
Attachment to a general liability policy thereby eliminating the exclusion of property under the care, custody, and/or control of an insured. Without this endorsement there would be no ...
Life insurance policy under which its face value is payable only if the insured survives to the end of the stated endowment period; no benefit is paid if the insured dies during the ...
Coverage in the event of death due to accident, usually in combination with dismemberment insurance. If death is due to accident, payment is made to the insured's beneficiary; if bodily ...
Casualty losses of high severity. ...
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Coverage on an all risks basis, subject to listed exclusions, for personal property of the insured dealer that is used in normal business activities. Goods that have been sold on an ...
Right to sell a given security at a stipulated price until a future expiration date. For example, assume the "None-Do-Well" company's stock has a market value of $20. Investor A sells ...
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