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Switzerland – October 2023
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The revised Swiss Insurance Supervision Act and its implications to the point of sale
By 1 January 2024 the revised Swiss Insurance Supervision Act (ISA) will have entered into force. In June of this year the Swiss Federal Council adopted the final version of the revised Insurance Supervision Ordinance (ISO). This marks the end of the lawmaker’s work on the new Swiss insurance supervision framework. Main changes relate to proportional relaxations to the supervision of insurance companies the implementation of a restructuring proceeding and new rules at the point of sale in particular for insurance intermediaries. While we covered the relaxation of supervision in the January 2023 issue of this journal 1 this briefing will focus on changes relating to insurance intermediaries and new rules at the point of sale.
Insurance intermediation
Under the new law not all insurance intermediation is subject to supervision anymore....
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