The Insurance Supervision Act sets out how the Swiss Confederation is to exercise supervision over insurance companies and insurance intermediaries. It aims, in particular, to protect insured persons from abuse and the insolvency risks of insurance companies.
The Insurance Supervision Ordinance governs the supervision of private insurance companies and insurance activity in Switzerland.
FINMA’s Insurance Supervision Ordinance defines in more detail certain provisions of the Insurance Supervision Act and the Insurance Supervision Ordinance.
The Insurance Bankruptcy Ordinance further defines the bankruptcy proceedings for insurance companies.
The Insurance Contract Act governs the provisions relating to insurance contracts.
This ordinance permits the departure from certain provisions governing life insurance contracts provided the contract is documented in a vested benefits policy meeting specified requirements.
The Insolvency Ordinance specifies the restructuring and bankruptcy proceedings as set out in the Banking Act, the Insurance Supervision Act and the Collective Investment Schemes Act for all financial market institutions falling under FINMA’s insolvency jurisdiction in accordance with the financial market laws.