What insurance does an SME need in Switzerland?

Some firms offer their guests the best view of a breathtaking mountain panorama. Others produce fine delicacies. Every company is different. But in one thing they are all alike: they all have to deal with unpredictable risks. But they do not have to do so alone. We support small and medium-sized enterprises (SMEs) with the important and right insurance policies. 

And what insurance do SMEs need? For a start, they need social insurance such as occupational pension provision and accident insurance. These are obligatory in Switzerland. In addition, there are some voluntary insurance policies that cover your company’s property and assets. These make sense.

You are responsible for your employees. Therefore, for every employer in Switzerland, contributions to the state pension and to occupational pension provision are obligatory. Accident insurance covers the consequences of accidents for employees, while occupational pension schemes provide benefits for death, disability and old age.

As an SME entrepreneur, you can join a collective foundation to cover occupational pension provision. A credit balance is accumulated at the foundation for your employees’ retirement benefits, which supplement state pension benefits. For your employees and their survivors, there is additional protection in the event of disability and death. Starting from an annual salary of at least CHF 22,050, cover is obligatory. The insured salary is capped at CHF 88,200 before the coordination deduction (as at 1 January 2023) – however, you can voluntarily set it at a higher level. We can also offer solutions for self-employed persons without employees.

Elective benefits

Occupational pension benefits are financed through payroll deductions. Your share as an employer is at least 50 % of the contributions owed. However, you can also make larger contributions or supplement the pension plan with elective benefits – a good way to set yourself apart in a competitive labour market. With solutions like this for your managers, you help to close pension gaps.

For you as an employer, accident insurance is mandatory. This covers medical expenses, daily allowances and pension payments (disability pension, widow’s pension). For your employees, it covers their annual salary up to a maximum of CHF 148,200. Do you have staff with higher salaries at your company? Then you can voluntarily provide additional accident cover for the remaining portion of their salary.

Under the law (Section 324a of the Swiss Code of Obligations), you as an employer are obliged to continue paying the wages of employees on sick leave. Although this is limited in time, it can still cost a lot of money.

You can cushion the cost with voluntary daily illness benefit insurance. 

Comparing the right insurance cover for your SME is crucial. That is because there are a wide variety of rates, especially for social insurance. In the case of start-ups, for example, the business’s targets are often taken into account. Compare the various options and take advantage of comprehensive SME insurance advice. That is what we are here for.