News

05 May 2011
News

FINMA comments on KVAG draft federal law

The Swiss Financial Market Supervisory Authority FINMA generally supports the draft federal law regarding the supervision of social health insurance (KVAG) put into consultation by the Swiss Federal Council on 4 February 2011. In its comments, FINMA particularly welcomes the fact that the qualitative aspects of supervision are explicitly provided for in the consultation draft and that a risk-based approach will be given greater priority. FINMA seeks, however, one fundamental change: it is calling for a full institutional separation between social and private health insurance. A distinct division of both institutions would result in more market transparency and would considerably improve the effectiveness of supervision.