The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
We compare the offerings of several insurers
An adviser checks whether the cover suits your activities
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
A stop-loss sickness absence insurance (verzuimverzekering) works with a threshold amount per policy year. All continued payment of wages to sick employees in that year is added together. Only when that total passes the threshold does the insurer pay the excess. Below the threshold you receive nothing, not even for a long-term case.
You are therefore not insuring normal absence but the outlier: a year in which three or four people are off work long term at the same time. That makes this form useful for employers with a wage bill large enough to pay for an average absence year out of their own operations. With a small workforce, one case of illness can fill the threshold and a conventional policy with a waiting period in days makes more sense.
Stop loss is a financial arrangement, not a guidance arrangement. Case management, occupational health services and monitoring of the gatekeeper obligations are not included as standard and must be arranged or bought separately.
What does stop-loss sickness absence insurance cover?
The structure of the cover in three parts, with an overview per situation below.
Two years
Continued payment of wages
What you are legally required to continue paying.
First year one hundred per cent
Second year seventy per cent
A collective labour agreement may require more
The waiting period
Own retention
How many days you bear yourself.
Shorter is more expensive
Longer brings the premium down
Choose according to what you can bear
Optional
Support and case handling
Guidance with reintegration.
Case management
Gatekeeper Act monitoring
Risk of a wage sanction
What is covered
Situation
Conventional
Full-service option
Continued payment of wages during sickness
Yes
Yes
Guidance with reintegration
No
Yes
Risk of a wage sanction borne by the insurer
No
Yes
Occupational health services included
No
Sometimes
Cost of replacing a member of staff who is off sick
No
No
Sickness absence that already existed at inception
No
No
This overview is general in nature and is not personal advice. What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) of the insurer; you receive both before you take out cover. Taking out cover without advice? Then read what execution only means for you.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
The retention is an annual amount, not a waiting period
Under a conventional policy you bear a number of days yourself per case of illness. With stop loss the insurer adds together all continued wage costs for the whole policy year and pays only what exceeds the agreed threshold amount. Five short cases of flu and one long-term back complaint therefore fall into the same total. That also means you only know late in the year whether you will exceed it.
You choose the threshold on the basis of what you can bear, not on average absence
If you set the threshold around your average absence burden, you pay a premium for cover that rarely responds. If you set it too low, the price advantage of this form disappears. The rule of thumb is: the threshold is the amount you can still pay out of current operations in a bad year without putting your liquidity at risk. Work that figure through with your own wage bill.
Absence that runs across the year end
An employee who falls ill in October costs you wages in two policy years. Insurers allocate the costs to the year in which the continued payment of wages falls, so that one case counts in both years but does not reach the threshold in either. Pay extra attention to this when switching: if you switch while cases are running, the new insurer will usually not take over that current absence.
What falls outside the cover
Not covered are: sickness absence that was already running on the start date, the costs of replacement or hired staff, and a third year of continued payment of wages after a wage sanction from the UWV. Pregnancy and maternity leave is not illness either and does not count towards the total. If you fail to disclose cases of illness known at the start or your actual absence figures, that affects the duty of disclosure under Article 7:928 of the Dutch Civil Code and brings the consequences of Article 7:930 DCC into play.
What does your premium depend on?
Level of the threshold amount. The higher the amount you bear yourself each year, the lower the premium.
Payroll. The total insured wage bill is the basis on which the premium is set.
Absence figures over several years. Stop loss is underwritten on history; insurers usually ask for figures covering several past years.
Number of employees. With a larger workforce, absence is more stable and the chance of an outlier year is easier to estimate.
Definition of insured wages. Whether you insure the statutory minimum or the full wage including any collective agreement top-up changes the burden that falls into the annual total.
Age profile of the workforce. An older workforce reports sick less often but takes longer to recover, and that weighs more heavily on an annual total.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
You request a quoteWe take stock of your situation, your risk and your wishes.
We compareseveral insurers, on premium as well as conditions.
You receive a proposalWith an explanation of the differences and the exclusions.
We arrange the switchIncluding cancellation, so there is no gap in cover.
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Only when the combined wage costs for all sick employees in one policy year exceed the agreed threshold amount. Above that, the insurer pays the excess. If you stay below the threshold there is no payment, not even when one employee has been ill all year. The counter starts again at zero each policy year.
Can I combine stop loss with guidance?
Often yes, but not automatically. Case management, occupational health services and monitoring of the gatekeeper obligations are separate elements under this form that you take out or buy in addition. If you do not, control of the reintegration process remains entirely with you, and so does the risk that the UWV imposes a third year of continued payment of wages.
What happens to a current case of illness if I switch?
As a rule a new insurer does not take over absence that was already running on the start date. The wage costs for that case then remain with you, while at the old insurer they usually no longer count after the end date either. So always have it recorded in writing in advance how current cases are treated on switching.
Is stop loss always cheaper than a conventional policy?
No. The premium is lower because you bear a larger share yourself, but you really do pay that share in a normal absence year. Only when your wage bill is large enough to absorb an average year yourself does the calculation work out favourably. With a small workforce, a waiting period in days is usually more advantageous.
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
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