Publikationen

Partial revision of Federal Act on Insurance Contracts

Partial revision of Federal Act on Insurance Contracts

Partial revision of Federal Act on Insurance Contracts. In 2013 the Federal Parliament rejected a bill for a total revision of the Federal Act on Insurance Contracts, with an order to the Federal Council to elaborate a partial revision on selected subjects. The Federal Council drafted an amended bill and recently initiated consultation proceedings on the proposals.

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New Federal Court decision on business judgement rule

New Federal Court decision on business judgement rule

New Federal Court decision on business judgement rule. A recent Swiss Federal Court decision clarified the circumstances under which the personal liability of board members or managers of a Swiss company for their business decisions and omissions can be reduced by applying the so-called ‚business judgement‘ rule or, if the related prerequisites are not met in a particular case, based on other grounds.

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Amended rules on insurance supervision

Amended rules on insurance supervision

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:
the Swiss Solvency Test;
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.

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