Insurance

Life of a contractor is full of opportunities, but many forget about the riscs they take.

Here you'll find a shortlist of things to think about. Every company and employee should assess the riscs and probabilities. This matrix may help to organize your thoughts:

  • Small chance x small damage = low risc - no insurance
  • Big chance x small damage = medium risc - insure only if you are unable or unwilling to face liability
  • Small chance x big damage = medium risc - insure only if you are unable or unwilling to face liability
  • Big chance x big damage = high risc - insure for sure

Personal riscs

  • Medical expenses
  • Disability
  • Liability
  • Pension

Company riscs

  • Illness (in the Netherlands the company has to pay wages during illness for up to 2 years)
  • Permanent disability
  • Corporate liability
  • Debtor risc (factoring)
  • Theft
  • Fire