Registration of insurance intermediaries

Tied and non-tied insurance intermediaries

FINMA keeps a public register of insurance intermediaries.

• Registration is mandatory for insurance intermediaries who are not tied to an insurance company, either legally or commercially or in any other way. (Art. 43 para. 1 ISA). This applies to both legal entities and individuals.

The Insurance Supervision Ordinance sets out the criteria used to determine whether an insurance intermediary is tied and hence not subject to mandatory registration (Art. 183 ISO). Tied intermediaries (field staff and agents acting on behalf of insurance companies) are entitled to register (Art. 43 para. 2 ISA).

Registration requirements

To register (see Art. 44 ISA), tied and non-tied insurance intermediaries must:

• meet the personal requirements set out in Article 185 ISO;
• demonstrate that they hold appropriate professional qualifications (Art. 184 ISO);
• hold professional indemnity insurance or provide an equivalent financial surety (Art. 186 ISO).

Instructions for setting up an account to register, a description of the registration requirements and other useful information for insurance intermediaries are available at the intermediary portal

No ongoing supervision

Registered insurance intermediaries are not subject to ongoing monitoring. FINMA does, however, make random samples to verify that intermediaries remain in compliance with regulatory requirements. If there is any indication of irregularities, FINMA acts accordingly. It does not, however, take any position on civil law disputes between insured persons, insurance intermediaries and insurance companies.