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This insurance is essentially the same as household contents insurance but, instead of insuring the movable property of a home, it insures a company’s inventory. Here too, you can decide whether to insure only against the basic risks (fire, natural hazards, water and theft) and the related consequential damage, or to extend the cover to include technical damage as well, often by taking out an “all risks” policy.

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Like private individuals, companies also own buildings and can therefore insure themselves against the basic risks or extend their cover, including to possible technical damage or damage to the surrounding environment. As with private individuals, the same applies to WOULD YOU LIKE TO FIND OUT MORE?

Much like private liability, companies can also cause damage to third parties. The insurance covers liability under the statutory provisions on civil liability incurred by the insured persons who have unlawfully caused bodily injury (death, injury or other damage to the health of persons), property damage (destruction, damage or loss of things) and, where applicable, pure financial loss, such as incorrect advice.
The insurance covers the civil liability of the following persons: the policyholder, as well as their representatives, other employees and auxiliary staff of the contracting party, in the performance of their activities on behalf of the insured company. The benefits consist of paying the compensation due in the case of justified claims and defending the insured persons against unjustified claims. 

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Fixed or self-propelled machinery can be worth very high amounts for some companies, so it is right to insure it properly. For large machinery and fixed installations there is machinery insurance, which covers any internal damage, including incorrect handling and the resulting financial loss caused by business interruption. For self-propelled machinery, such as an excavator, there is instead machinery own-damage (casco) cover, so that each self-propelled machine can be covered individually against possible overturning or collision damage.

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This cover is simply an insurance that brings together a number of motor vehicle insurances. For a company with a large fleet of vehicles, it can be very practical and advantageous to insure everything under a single contract. Although there is only one contract, the type of cover required can be tailored for each vehicle.

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Legal protection insurance is an insurance that offers businesses cover in the event of legal disputes, whether for advice or for legal costs. It takes on the financial risk of legal cases involving the company, as well as advice on matters of employment law, contract law and criminal law. This cover applies to disputes with employees, clients or suppliers, as well as to possible disputes arising in road traffic. 

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This cover is a liability insurance for the governing bodies of the company and members of management. If these persons fail to perform their duties and cause damage to the company, this insurance steps in to compensate the damage and, where applicable, to provide legal assistance.

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This insurance takes on the financial risk where an employee causes damage resulting from criminal acts, embezzlement, manipulation and falsification of documents. Despite the trust you place in your employees, unfortunately, more often than people think, businesses suffer unlawful acts committed by their own staff. With this insurance, however, you are compensated.

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In short, this insurance takes on the financial risk if your clients do not pay their invoices. As well as being compensated, the insured party does not have to fear liquidity problems.

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In the case of short-term incapacity for work due to illness, there are two possible solutions in Switzerland: either you take out daily sickness allowance insurance, or you comply with the obligation to continue paying wages laid down in Article 324a of the Swiss Code of Obligations (in Ticino, this means following the Bernese scale). Nowadays almost all employees are insured through daily sickness allowance insurance, partly because most trades provide for it in the collective labour agreement. With this insurance, the employer only has to pay wages during the waiting days, after which the insurance takes over.

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Under the Swiss Federal Act on Accident Insurance (UVG) and its ordinances, all employees must be insured on a compulsory basis up to a maximum salary of CHF 148,200. Staff employed for fewer than 8 hours per week are insured only against occupational accidents and occupational diseases, including the direct journey between home and the workplace. Staff employed for 8 hours per week or more are also insured against non-occupational accidents. This insurance pays all costs resulting from an employee’s accident, including medical costs and daily allowances.

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Although the UVG already provides many benefits, these may sometimes not be enough. The UVG supplementary insurance fills those gaps, for example salaries exceeding the UVG maximum, the waiting period, the missing percentage up to 100% and a private room in the event of hospitalisation. Last but not least, one of the main covers of the UVG supplementary insurance is the waiver of reductions for gross negligence; that is, where the UVG does not pay because of the insured person’s negligence, the UVG supplementary insurance steps in and pays.

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Unlike employees, who are insured through the company’s group sickness insurance, a self-employed person can insure themselves individually with an individual sickness policy so as to receive, in the event of illness, a daily allowance for the first two years.

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As with individual sickness insurance, there is also individual accident insurance; here too, the insured person secures a daily allowance in the event of an accident for the first two years. Unlike the UVG, treatment costs and the lifelong pension are not included.

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In Switzerland, every employee with a salary above CHF 22,050 must be affiliated to a pension fund. The pension fund represents the 2nd pillar and is called occupational pension provision, i.e. the part of provision linked to your occupation. The latter covers all three risks that surround us: 

• Disability risk
• Death risk
• Longevity risk, i.e. retirement

In the event of long-term disability due to illness, you receive a disability pension for yourself and for your children (up to age 18/25). In the event of death due to illness, the surviving spouse/partner receives a widow’s or widower’s pension, as do the children (up to age 18/25). On retirement, you receive what you have saved during your working life.

The type of cover chosen can range from the statutory minimum plan to a plan with maximum credits and pensions as a percentage of salary. Basic plans can be created for employees and executive plans for management staff, depending on needs. In addition, there are also plans known as 1e plans, designed specifically for people with high salaries.

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As the name suggests, this insurance protects against damage occurring during the transport of goods and equipment. Contrary to what people think, very often, especially in trade outside Switzerland and under different legal systems, it is not always clear who is responsible in the event of damage. With this insurance, the problem does not arise.

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Alongside the many benefits brought by digitalisation, the threats of possible cyber-attacks have also grown: data theft, online fraud, etc. In addition, let us not forget that we are increasingly exposed to damage caused by human error as well. Cyber cover takes on, for example, the following costs:

• In the event of data loss (caused by malicious software or simply by a spilt cup of coffee), it covers the costs of data recovery, removal of the malicious software or reinstallation of the operating system
• In the event of misuse or fraud in online payments, it provides assistance in mediation with the credit card companies and covers the remaining financial loss.

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