Already during the company formation, you have to think about the insurance of your company. There are certain insurances, which you have to take out obligatorily. In addition, there are other offers that are recommended for optimal protection. In the following article, we will gladly explain everything you need to know about the various company insurances.
Which insurances are obligatory?
1. Social insurances (AHV/IV/EO/ALV)
A few days after the entry in the commercial register, you will receive a questionnaire from the compensation office of the responsible canton. This will clarify whether or not your company is liable to pay contributions. The obligation to pay contributions begins as soon as compulsorily insured persons are paid wages. Currently, the contribution amounts to 10.6% of the gross salary, half of which must be paid by the employee.
In addition, contributions must also be paid for unemployment insurance (ALV) and the family compensation fund (FAK). The ALV contributions amount to a total of 2.2% of the gross wage and are borne half by the employer and half by the employee. The FAK contributions vary from canton to canton and are usually paid by the employer.
2. Occupational pension plan (BVG)
The occupational benefit plan, also known as pension fund or 2nd pillar, provides, among other things, for the accumulation of a retirement pension as well as financial security in the event of disability and for surviving dependents in the event of death. Together with the 1st pillar (see social insurance), the pension fund covers around 60% of the last salary. However, if you want to continue your accustomed standard of living after retirement, you should definitely also take out a 3rd pillar.
BVG contributions must be paid for employees with a gross salary of at least CHF 21,510 or CHF 1,792.50 per month and an employment contract duration of at least 3 months. The employer must choose the insurance company and pay at least 50% of the contributions.
3. Accident insurance (UVG)
All employees who are employed by you must be compulsorily insured against occupational accidents, from 8 hours per week also against non-occupational accidents. We will be happy to explain everything that is important, show you the various solutions and find the right offer together.
What other insurances are available for companies?
1. Daily sickness benefit insurance (KTG)
If you or your employees are unable to work due to illness, this can have serious financial consequences. A daily sickness benefit insurance protects you and your employees against this financial risk. It covers the insured salary for up to 2 years in the form of daily benefits. Although this insurance is not required by law, it is highly recommended and is therefore taken out by most companies.
2. Business owner insurance
This insurance is the optimal solution for self-employed persons to protect themselves against the financial consequences of illness or accident. Thanks to an individually tailored daily allowance, which is insured, they do not have to worry about their income in case of an emergency. In addition, medical expenses as well as a lump sum in case of disability or death benefit for surviving dependents can also be included. The business owner insurance is not obligatory, but highly recommended for self-employed persons.
3. Inventory or property insurance
To protect inventory, goods and equipment against natural hazards and other unforeseen events, it is worth taking out inventory insurance. In addition, such insurances often cover loss of sales due to business interruptions, which is often the result of damage caused by natural hazards. The insurance also covers any furniture, utensils, machinery and IT equipment, protecting your business from the devastating financial consequences. The insurance is not required by law, but especially production companies and larger enterprises should not do without it.
4. Liability insurance
If third parties suffer damage because of your company or your employees, your company is liable with all its assets. With a liability insurance you can protect yourself against these risks which are difficult to assess. The liability insurance takes over the financial consequences in case of justified claims for damages and takes care of the defense in case of unjustified claims. This insurance is also not mandatory, but is taken out by many companies.
5. Legal expenses insurance
Legal protection insurance supports your company in legal cases, for example if you have problems with employees or customers, answers questions about tenancy law or other issues and fights with you for your rights. Since the insurance company assumes the financial risk for legal cases and is also available as a direct contact person for legal questions, it is worthwhile to have a voluntary legal protection insurance.
Have you recently started a business? Or would you like to have your current insurance coverage reviewed and receive competent advice from experts with many years of experience? Our in-house insurance experts at Simplecare.ch AG will be happy to advise you on all questions regarding company insurance. Contact us now!
Already when founding a company, you have to think about the insurance of your company. There are certain insurances, which you have to take out obligatorily. In addition, there are other offers that are recommended for optimal protection. In the following article, we will gladly explain everything you need to know about the various company insurances.
The pension fund is the occupational pension in the Swiss pension system and is also called BVG. Together with accident insurance, it forms the second pillar. The pension fund, together with the state pension (first pillar) and private pension (third pillar), is intended to ensure that the standard of living is maintained after retirement.
For personal retirement provision and the well-being of the family, Switzerland has built up a 3-pillar system for around 50 years. Anyone who wants to maintain their standard of living after retirement should look into the third pillar at an early stage.
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Pillar 3a is an important component of the Swiss pension system. It enables people living in Switzerland to put money aside for their retirement and save taxes at the same time. Pillar 3a offers a wide range of investment options and is an important supplement to the first and second pillars. But is an investment at the bank safe? The recent events at Credit Suisse and Silicon Valley Bank show that even the largest banks cannot be considered absolutely safe.
Pillar 3a is the voluntary private pension plan in Switzerland that enables individuals to make additional provisions for financial security in retirement in addition to the state AHV (old-age and survivors' insurance) and the mandatory occupational pension plan (2nd pillar). An important feature of pillar 3a is the annual maximum amount that can be paid in to benefit from tax advantages.
