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
State laws based on a model law of the National Association of Insurance Commissioners (NAIC) that allow insurers to set rates independently; or adopt those rates developed by a rating ...
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Percentage of income required by a retiree to maintain a desired standard of living during the retirement years. ...
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