How to calculate the premium and when are the premiums due?


How much?

The premiums payable by the insured are based on the member company's gross sales, the premium sum agreed upon between the Co-operative and  the Finnish Mutual Insurance Company For Pharmaceutical Injury Indemnities and the Co-operative's operational fee.

The member company's annual payment is based on its annual groos sales in Finland. Minimum payment is 4000 €.

When applying for the membership in the Co-operative, the company signs a commitment related to the medicines-related injuries, thereby undertaking to provide the Co-operative with annual information about its gross sales.

Each member joining the Co-operative becomes the holder of at least one share. The premium is 20 euro per share. For each 200,000 euro part of the gross sales, the company is liable to subscribe to a corresponding number of additional shares. The number of the shares is reviewed on an annual basis.


New member's payments?

The members joining the Co-operative will be charged the premiums for the first insurance period in advance, based on their estimated net sales figures.