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Entrepreneur’s insurance

As an entrepreneur, you will be required to take out certain mandatory and voluntary insurance policies, depending on the nature of your business. Secure your personal livelihood, the livelihood of your family, and the continuity of your business.

All corporate insurance policies in one place

You can get all the mandatory and voluntary insurance policies for new entrepreneurs in one place from us.

Personal customer service

In cooperation with our expert, you will ensure that any risks related to your business are adequately covered. You can easily contact us if required.

Digital services 24/7

You can check your company's insurance cover at any time. In case of loss or damage, you can quickly get help from Pohjola Claim Help and conveniently file a claim online.

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What are the most important types of mandatory insurance for self-employed persons?

For a company, the most important and often only mandatory insurance is the self-employed person's pension insurance, YEL. In addition, there are certain industry-specific self-employed person’s mandatory insurance policies, such as patient insurance.

Companies that have employees must take care of the employer’s insurance, such as the statutory workers' compensation insurance and the employment pension insurance. If the company has vehicles or trailers, there must be a motor liability insurance for them.

Mandatory insurance for the self-employed person helps protect you and your family in case of an illness or accident. Whether you are a new or seasoned entrepreneur, our experts will customise an insurance solution suitable for your business. With your insurance in order, you are free to focus on your business.

Self-employed persons’ pension insurance (YEL)

Mandatory pension insurance for self-employed persons, or YEL, protects your livelihood in different situations in life. It has an effect on your pension as well as maternity, paternity and parental allowance. YEL insurance also helps if you need to take sick leave or your business is interrupted.

The amount of YEL contribution is based on your estimate of your YEL income. This means the amount which your could pay as one year’s salary to a person who performs your work. Remember to keep the earned income of your YEL insurance up-to-date, as it is used to calculate your daily allowance should you fall ill, for example.

You are required to take out YEL insurance if

you are aged between 18–67
you are resident in Finland
you work in your own business
you have been self-employed for at least four consecutive months
you are not covered under any other pension legislation for the same activities
your YEL income is at least 9,423.09 euros (in 2026).

You can take out YEL insurance from Ilmarinen easily through us

Mandatory insurance policies of employers and employing businesses

Employee pension insurance TyEL

If you hire employees for your company, in most cases you are obliged to provide them with workers' compensation insurance, employee pension insurance (TyEL) as well as employees’ group life insurance.

The TyEL obligation enters into force when the employee is 17–67 years old, is in an employment relationship and receives a salary of at least 71.72 euros per month (in 2026).

The TyEL contribution is a certain percentage of the wages or salary, and it is determined on the basis of the Employees Pensions Act. Part of the employee pension insurance is paid by the employee. The self-employed person’s task is to withhold a specific percentage of the employee’s salary and pay it to the insurance company.

Workers' Compensation Insurance

With regard to the employer’s mandatory insurance policies, the statutory workers' compensation insurance is required when the salaries paid by the employer are at least 1,500 euros during a calendar year. Workers' compensation insurance is mandatory if the company has any employees. Leisure-time insurance is not mandatory.

The payment amount depends on the industry as well as the risk level of the work. The payment amount is based on the Workers' Compensation Act. In addition, according to generally applicable collective agreements, the employer is required to take out group life insurance for its employees, the contributions of which are paid together with workers' compensation insurance.

Industry-specific mandatory insurance

Patient insurance

One of the most common industry-specific mandatory insurance policies is patient insurance. Patient insurance is mandatory if the company's activities include health care or nursing, such as massage services or physiotherapy. The insurance covers, for instance, any injuries caused to the patient in connection with the treatment.

Motor vehicle insurance

Your company's vehicles, such as cars, vans or trucks as well as working machines, snowmobiles, all-terrain vehicles and trailers must be insured by the company’s motor liability insurance. The company’s motor liability insurance covers personal injury and damage to the innocent party.

Supplement your insurance cover with voluntary insurance

Voluntary insurance for self-employed persons let you prepare for illnesses, disability or death, for example. Comprehensive insurance cover enables you to get fast access to treatment to support your recovery and return to work.

If your company owns motor vehicles, real estate or other such assets, you will also need suitable insurance for these. You should also protect your company against external risks and business interruptions.

Voluntary personal insurance for self-employed persons

The illness or injury of an entrepreneur always has an impact on the business. This is especially true if the entrepreneur is the sole employee.

You can take out self-employed persons’ accident insurance if you have self-employed persons’ pension insurance, or YEL insurance. Self-employed persons do not enjoy the same level of earnings-related social security as employees, so it's a good idea to insure yourself against accidents and occupational diseases with voluntary self-employed persons' accident insurance.

Health Insurance for entrepreneurs allows you to prepare for any unexpected expenses when you are treated for an illness or accident. The insurance gets you fast access to treatment and ensures a speedy recovery and return to work. It also helps make your life easier, as our partner physicians can invoice us directly for any expenses covered by the insurance.

Corporate Travel Insurance is necessary if you travel for business in Finland or abroad. In addition to medical treatment expenses, the travel insurance covers the costs of a cancelled trip, for example.

Disability insurance pays compensation if you become permanently unable to work because of an illness or accident. The insurance may also pay a daily allowance during a temporary disability.

Life insurance provides cover to your loved ones and helps them over the worst financially. They can use the life insurance benefit to cover various expenses, such as loan repayments or other household expenses. If you are OP's business customer, you can take out life insurance conveniently in the online service.

Pension insurance for entrepreneurs lets you supplement your mandatory YEL income. It is a flexible means for building up additional income for your retirement years. When you take out pension insurance from us, we will help you draw up a plan for your insurance premium payments and how your savings will be invested.

Our experts are happy to provide you with information about which insurance policies are the most important for entrepreneurs and what entrepreneur’s insurance covers.

General liability insurance protects against liability for damages

General liability insurance is necessary for companies of all sizes. It is one of the most common types of insurance for self-employed persons and suitable for all lines of business. General liability insurance provides financial security if your business activities or products cause damage to another party. Depending on your line of business, you may need more than one liability insurance policy. Pohjola Liability Insurance is always customised to your company's needs.

Instead of taking out individual policies to help secure the assets and business of your company, you can take out OP’s easy and extensive Special Corporate Insurance. Special Corporate Insurance is also a great choice for new entrepreneurs!

We would be happy to discuss all of your insurance needs and help you select the most suitable entrepreneur’s insurance policies. Pohjola Insurance can provide you with all the necessary insurance policies for entrepreneurs. Our life and pension insurance policies are issued by OP Life Assurance Company Ltd.