Insurance for new businessesStarting a new business is exciting, but can sometimes also take hard work. We help your company find its feet by reducing risks and supporting your business.
All your insurance needs in one place
We offer all relevant types of insurance, both mandatory and voluntary policies.
Personal customer service
Together with our expert, you ensure that all risks related to your business are sufficiently covered. If necessary, you can get in touch with us easily.
Digital services 24/7
View your insurance cover whenever, wherever. In case of loss or damage, Pohjola Claim Help is always at your assistance and filing a claim takes just a few moments.
Insurance checklist for new businesses
The checklist for new entrepreneurs is a long one. Business owners must consider questions such as the company’s legal form, financing, permits, obligations and unemployment security. Taxation, contracts, facilities, employees and insurance must also be taken into account. Not everything has to be done by yourself.
We help new businesses in evaluating and managing risks. The right types of corporate insurance provide cover in all stages of the company’s lifecycle and the entrepreneur’s personal life.
New entrepreneurs are often entitled to a discount on insurance. Leave a request for a quote to learn more.
Special Corporate Insurance, a ready insurance package for businesses, includes all essential forms of cover for the company’s property and operations, including property insurance, business interruption cover and liability and legal expenses insurance.
The most important types of insurance that all new entrepreneurs should be aware of can be divided into mandatory and voluntary insurance policies.
Mandatory insurance policies for new businesses
Self-employed persons’ pension insurance (YEL) improves the pension and social security of entrepreneurs. YEL is a mandatory insurance for self-employed persons aged 18 to 67 when business activities last for at least four months. In addition to pension cover, YEL supports entrepreneurs during medical or parental leave or when the company’s activities are interrupted. New self-employed persons can receive a discount on YEL premiums.
Corporate customers at Pohjola Insurance can take out YEL insurance with our partner, Ilmarinen Mutual Pension Insurance Company. The basic cover offered by YEL insurance can be supplemented with entrepreneurs’ voluntary pension insurance.
Mandatory insurance specific to some lines of business include patient insurance for healthcare and medical companies and environmental damage insurance for companies whose activities involve risks related to environmental damage or who may cause damage to the environment.
If the business uses cars or other vehicles, motor liability insurance is required.
Voluntary insurance policies for new businesses
Most forms of insurance for new businesses are voluntary. Our experts at Pohjola Insurance can help you personalise the right insurance cover for your company. We also offer package solutions for new businesses and entrepreneurs, including OP Light Entrepreneurship and Special Corporate Insurance for small and medium-sized enterprises.
Many entrepreneurs also take out voluntary insurance policies to protect themselves and their business.
Self-employed persons’ accident insurance protects entrepreneurs against occupational accidents. If the entrepreneur is incapacitated for work, the accident insurance provides financial security and speeds up the return to work. The smart choice is to expand accident insurance to also cover accidents outside working hours. Self-employed persons’ accident insurance covers medical treatment costs due to occupational accidents and diseases, costs of permanent disability, and loss of earnings due to incapacity for work.
The majority of sick leaves are due to illness. Corporate medical expenses insurance ensures a faster clinical pathway in case of illness.
The most common types of liability insurance for companies are business liability insurance and product liability insurance. Liability insurance provides financial assistance if the company’s activities or products cause bodily injury or material damage. In order to select a liability insurance that covers all potential damages, the entrepreneur must understand the risks the company’s business involves.
Corporate legal expenses insurance is useful for new businesses that may end up in a dispute over a contract despite following the law to the letter. Disputes over contract may be related to the lease of facilities or machinery, for example. The cover afforded by legal expenses insurance for a business or entrepreneur is different to that of legal expenses insurance for a private individual.
Corporate property insurance provides financial cover if the company’s machines, equipment or products are damaged or break down as the result of natural phenomena or human activity. These include fire, burglary, vandalism, water damage and storms.
Business interruption insurance provides assistance if a new company’s activities are suddenly interrupted. The interruption may be caused by damage to facilities or machinery, for example. Insurance for business interruption due to disability helps prepare against a key person becoming incapacitated for work due to illness or accident. Contingency business interruption cover helps in situations where a supplier, service provider or subcontractor suffers losses that impair the company’s operations.