During a “Hard Market,” insurance companies not only increase rates, but also might limit or reduce their business capacity and/or the extent of the coverage they offer.
A major consideration in structuring a Buy/Sell Agreement for dealing with the potential of the death of a shareholder is ensuring that the remaining shareholders have the financial means to pay for the purchase.
A Buy/Sell Agreement is a vital document that protects you from the confusion and potential for disagreement that can come if something happens to a business partner.