How does key person insurance interact with other business insurance policies?

Key person insurance works alongside other business insurance policies as part of a comprehensive business protection strategy, with each type serving distinct purposes without overlap. Key person insurance specifically addresses the financial impact of losing critical individuals, while other policies cover different risks. Business interruption insurance covers loss of income from external events like fire, flood or equipment breakdown, but doesn't cover losses from key person absence - key person insurance fills this gap. Public liability insurance protects against third-party injury or property damage claims but doesn't address internal business continuity issues. Professional indemnity insurance covers negligence claims but not the loss of expertise when a key person leaves. Business property insurance protects physical assets but not human capital value. Income protection insurance for the individual pays salary replacement to the person if they can't work, while key person insurance pays the business to cover their lost contribution - these serve complementary purposes. Buy-sell or shareholder protection insurance specifically funds ownership buyouts under predetermined agreements, often working in tandem with key person insurance where the key person is also an owner. Workers compensation covers employee injuries but is government-mandated and doesn't address business continuation needs. Directors and officers insurance protects individual directors from liability but doesn't protect the business from losing them. A comprehensive business protection strategy typically combines key person insurance with several of these policies, each addressing different risk exposures. Insurance advisers can design integrated insurance programs ensuring all business risks are covered without duplication, optimising protection while managing total premium costs.