Financial expert: Unexpected shareholder death can have serious consequences for firms and families

An untimely death of a senior management figure is not only personally distressing, but can also have serious financial and operational consequences for a firm and families, a financial expert has warned.

Co-founder of Orca Financial, John Molloy said corporate co-directors insurance was an "essential form of cover to address challenges that both a company and next of kin may face in such an event".