Free At Last? A Contract For The ‘Professional Insured'

The statutory law pertaining to Swiss insurance contracts, as incorporated in the Insurance Contract Act (ICA), has been under intense scrutiny since the beginning of this century. While originally designed as a modern law oriented towards consumer protection, the current act dates in essence from 1908. With the evolution of concepts of consumer protection as well as the general legal and economic environment, a need to modernise the ICA has arisen. After the implementation of minor adjustments in 2006, a major overhaul of the ICA failed to pass parliament in 2013. Following this, on 28 June this year the Swiss Federal Council proposed a new bill ('Botschaft') to the parliament, based on those parts of the failed amendment project that had remained largely uncontested.