Insurance Supervision Act (ISA)

The currently planned revision of the Insurance Supervision Act foresees restructuring legislation, a regulation and supervision concept for client protection and a code of conduct for financial services.

From a customer perspective, the necessity for formal restructuring legislation exists because under the current law, life insurance policyholders (unlike bank customers) do not benefit from any kind of depositor protection should the insurance company become insolvent. After all, insurance policies do not benefit from any privileges under the Swiss Federal Act on Debt Enforcement and Bankruptcy (DEBA) either. The currently ongoing revision hopes to remedy this.

Since both councils decided to exempt insurance companies from the FinSA and the FinIA, at the time these acts were in consultation, similar rules on conduct and due diligence when providing financial services tailored to the insurance sector will now be included in the ISA.

  • 1 Preparation of the rule of law 09/16-03/18
  • 2 Consultation period 04/18-06/18
The consultation draft is expected to be published in Q2/2018 and, to some degree, will also depend on the results of the consultation draft of the FinSa and FinIA.


The revision of the ISA, similarly to FinSA and FinIA, will also introduce various conduct and due diligence rules. These new duties and the planned relaxation of the burden of proof for customers will be quite costly and will heavily influence the current internal processes of insurance companies. Also, all contractual, information and sales documents will have to be adjusted.  The new restructuring legislation will also bring quite a few new aspects for insurance companies. It is therefore advisable to start planning carefully and to diligently implement these new aspects.

Further information:

Leave a Reply

Your email address will not be published.