Amended rules on insurance supervision. The revised Insurance Supervisory Law has been in effect since January 1 2006. The need for further revision has been revealed through lessons learned from the global economic and financial crisis and the introduction of risk-based solvency measuring methods including:
l the Swiss Solvency Test;
l the European Insurance and Occupational Pensions Authority’s 2011 equivalence test; and
l the Financial Sector Assessment Programme of the International Monetary Fund’s 2013 analysis.