The International Comparative Legal Guide to: Insurance & Reinsurance 2016 Edition – Swiss Chapter

The International Comparative Legal Guide to: Insurance & Reinsurance 2016 Edition – Swiss Chapter
with Julia Jung-Utzinger, This article appeared in the 2016 edition of The International Comparative Legal Guide to: Insurance & Reinsurance published by Global Legal Group Ltd, London

The responsible regulatory authority in Switzerland is the Swiss Financial Market Supervisory Authority (FINMA). It is in charge of approving the establishment of (re)insurance companies, as well as of their ongoing prudential supervision. FINMA also has statutory supervisory authority over various other financial market participants, such as banks, securities dealers, collective investment schemes and insurance intermediaries.

For social insurance (such as the compulsory health, accident, old age, invalidity insurance, etc.), the responsible authority is the Federal Social Insurance Office. (...)