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ARTICLE · 06 JANUARY 2016

Insurance Intermediation Activities And Insurance Intermediaries Report

Bär & Karrer Ltd.
Bär & Karrer Ltd.
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Bär & Karrer Ltd.

Bär & Karrer Ltd.

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The term 'insurance intermediation' in Swiss insurance regulation is very broad and includes both concluding insurance contracts as well as offering insurance contracts...

SwitzerlandInsurance
Peter Hsu
Peter Hsu
Daniel Flühmann
Daniel Flühmann
Florian Steiner
Florian Steiner
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1. Insurance intermediation activities

1.1 Is the distribution of insurance products (hereinafter referred to as 'insurance intermediation activities' or 'insurance intermediation') limited to insurance intermediaries in your country?

Insurance intermediation within the scope of the Swiss Federal Act on Insurance Supervision ('ISA') by untied insurance intermediaries (usually insurance brokers, see 3.1 below) in Switzerland triggers a requirement to register with the Swiss Financial Market Supervisory Authority ('FINMA') (Article 43, paragraph 1, ISA). In contrast, tied insurance intermediaries (usually insurance agents, see 3.1 below) are not subject to any registration requirement in Switzerland but have a right to register with FINMA (Article 43, paragraph 2, ISA).

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