Transferring insurance to another company
As the policyholder, the employer may transfer workers’ compensation insurance policies to another insurance company, provided that the policy is valid until further notice. A fixed-term policy cannot be transferred.
A continuous insurance policy can be transferred so that it expires on the last day of March, June, September or December in the current insurance company. The policy is valid with the insurance company on 1 April, 1 July, 1 October or 1 January. However, the insurance must have been valid in one company for at least one full calendar year.
The insurance is transferred using a written transfer notice which the policyholder submits, dated and signed, to the new insurance company. Each company has its own transfer notice forms.
The new insurance company forwards the details of the transfer notification to the old insurance company three months before one of the expiration dates listed above. After the old insurance company has received the information, it sends the policyholder’s salary data for the current and the previous policy period to the new company.
A continuous partial insurance is transferred in the same way.