Switzerland is substantially revising and modernizing its insurance supervision laws, i.e., the federal law on the supervision of insurance carriers (Versicherungsaufsichtsgesetz) and the respective ordinance (Versicherungsaufsichtsverordnung). The new law is expected to come into effect on 1 July 2023 or 1 January 2024. It will introduce a new, risk-based supervision regime that allows for more tailor-made supervision.
Please be sure to sign up for our webinar on Financial Services – Fit for 2022 on 26 January 2022. This webinar will be held in German only.
InsurTech did not appear overnight. When it comes to collecting and analyzing data to assess risks and calculate exposures and premium payments, insurance companies are the consummate experts. InsurTech is the natural result in two recent developments in the industry.
InsurTech did not appear overnight. When it comes to collecting and analyzing data to assess risks and calculate exposures and premium payments, insurance companies are the consummate experts. InsurTech is the natural result in two recent developments in the industry. The first development involves the increased availability of data. It…
On 16 March 2020, the Swiss Federal Council declared an “extraordinary situation” under the Federal Law of Epidemics. This is the most severe status contemplated under the law and equates to a state of emergency. It allows the Federal Government to order all necessary measures for parts of or the…
Since the Coronavirus (“COVID-19”) was first reported in Wuhan, China in December last year, countries around the world have sought to impose travel bans, quarantine citizens and isolate the infected in an attempt to stop the spread of the new virus. The outbreak has developed into a global threat and…