The revised Insurance Supervision Act and the revised Insurance Supervision Ordinance enter into force on 1 January 2024. The new regulation increases the requirements for insurance intermediation. The Swiss Financial Market Supervisory Authority FINMA has set out the most important next steps for insurance intermediaries in a guidance document.
FINMA is publishing guidance with the most important next steps for insurance intermediaries. In this document, it also explains the obligations that insurance intermediaries will have to comply with under the revised law and what this means for them from 1 January 2024 onwards. In addition, FINMA will hold information events for interested untied and tied insurance intermediaries in Bern, Lausanne and Dübendorf in October 2023 (registration).
In addition FINMA is providing information on the topic with a new web page. The page summarises the extended requirements for insurance intermediaries in a compact form and also contains an informative explanatory video.
The revised Insurance Supervision Act and the revised Insurance Supervision Ordinance enter into force on 1 January 2024. To ensure better customer protection, the requirements governing insurance intermediaries are being enhanced. This means that, as of 1 January 2024, only insurance intermediaries who comply with those enhanced requirements will be approved for the Swiss insurance market.