Kaksi naista puhuvat aiheesta työntekijän vakuutukset.

Employer insurance

Learn more about employer and employee insurance policies. Determine what insurance your company needs and take out mandatory and voluntary cover for your employees.
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What does the employer's statutory insurance include?

The employer's mandatory insurance includes employment pension insurance (TyEL), occupational accidents and diseases insurance, employees' group life assurance, the unemployment insurance contribution, and the employer's health insurance contribution.

Indirect labour costs and mandatory insurance

Hiring an employee always imposes statutory obligations on the employer. The related costs are called indirect labour costs, reflected in connection with salary payment. Indirect labour costs include:

  • Employment pension insurance (TyEL), which provides cover for old age, incapacity for work and death. Both the employer and employee contribute to the payment.
  • Occupational accidents and diseases insurance, paid by the employer. Provides cover against accidents and occupational diseases at work and during work-related travel.
  • Employees' group life assurance, which is based on collective agreements and is taken out by the employer.
  • Unemployment insurance contribution, paid jointly by the employer and employee to the Employment Fund.
  • Employer's health insurance contribution, with which the employer contributes to the costs of employee health insurance.

These statutory insurance policies form the basis of employers' responsibilities. When these are in order, the company fulfils its legal requirements and secures its employees' income and wellbeing.

Voluntary insurance offers supplementary cover

In addition to statutory insurance, employers can improve cover with voluntary insurance policies. They help anticipate risks and improve employees' wellbeing.

Examples of voluntary insurance policies:

  • General liability insurance protects the company against damage caused by an employee's actions.
  • Employee's travel insurance offers cover against illness and accidents during work-related travel abroad.
  • Medical expenses insurance for companies (Health Insurance) ensures fast access to care and reduces costs from sickness absence.

Voluntary insurance policies are not mandatory but they can improve wellbeing at work and employee commitment and protect the company against unexpected costs.
 

New employee insurance policies

Hiring the first employee is a big step for any company. Statutory employer contributions usually amount to around 20% of an employee's salary and are paid on top of it. 

Things to consider in a new employment relationship:

  • The first employee is insured with the same statutory insurance as others.
  • As a rule, summer employees are insured in the same way as permanent employees.
  • Foreign employees are usually insured in the same way as Finnish employees as long as the work is carried out in Finland.

Our specialists will help you ensure that your employees are insured as required by the law and that your company's insurance cover is up to date.

Manage personnel risks with insurance policies

Competent and happy employees drive the success of a company. Employee-related risks can be managed with insurance:

  • A sudden illness or accident may interrupt work and increase costs.
  • A key employee leaving the company may jeopardise the company's operations and development.
  • Absences or incapacity for work may increase workload and weaken productivity.

Systematic risk management helps reduce costs and improve employee commitment. Good insurance cover supports the employees' wellbeing and the company's continuity.

Kaksi naista tutkii pöydällä olevia materiaaleja ja keskustelee TyEListä, lakisääteisestä työeläkevakuutuksesta työntekijälle.
TyEL or statutory employment pension insurance for employees
TyEL insurance is a form of mandatory insurance for entrepreneurs.
Nainen selaa tietokonetta hymyillen, sillä hänellä on työtapaturmavakuutus turvanaan.
Workers’ compensation insurance
Covers your employees in the event of accidents that happen at work or on the way to or from work as well as occupational diseases.
The insurer is Pohjola Insurance. The losses will be covered in accordance with the law and the insurance terms and conditions. TyEL and YEL insurance is issued by Ilmarinen Mutual Pension Insurance Company.