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Reinsurance law in Switzerland is governed by national statutes and overseen by federal authorities, with Swiss cantons like Valais (where Sierre sits) applying those rules to local matters. Reinsurance contracts are treated as private agreements under Swiss contract law and are subject to supervision when they involve Swiss insurers or reinsurers. In practice, Swiss reinsurers and ceding insurers must comply with the Insurance Contract Act and with FINMA supervision for solvency and governance.
In Sierre you may encounter disputes over coverage, settlement amounts, or the interpretation of treaty terms in a cross-border context. A Swiss reinsurance lawyer can help interpret policy language, assess compliance with disclosure duties, and navigate any litigation or arbitration with reinsurers. Understanding both federal law and cantonal procedures can improve your ability to protect your rights in a complex reinsurance matter.
Finma states that it supervises insurers and reinsurers to ensure compliance with solvency and governance standards.
Source: FINMA
The Versicherungsvertragsgesetz governs the formation, disclosure duties, misrepresentation, contract interpretation, and claim handling for insurance and reinsurance contracts. It provides the framework for how parties must deal with pre-contractual information and post-claim settlements. In reinsurance matters, VVG provisions on disclosure, warranties, and misrepresentation are often central to disputes.
Key points include the duty of disclosure by the contracting parties and the consequences of non-disclosure or misrepresentation. Swiss courts apply VVG provisions to interpret treaty language and determine rights and remedies in coverage disputes. See official texts for the current consolidated version and amendments.
Source: Federal Law Portal - VVG
FINMASA created FINMA and defines its authority to supervise financial markets in Switzerland, including insurers and reinsurers. The act sets the framework for licensing, supervisory powers, and enforcement actions related to solvency, governance, and risk management in the insurance sector. In reinsurance matters, FINMA oversight helps ensure insurers maintain adequate capital and comply with prudential standards.
Recent practice notes and supervisory updates from FINMA address cross-border reinsurance activities and solvency-related requirements. For current text and guidance, consult FINMA resources.
Source: FINMA
VAG provides the cantonal and federal framework for the supervision of insurance activities, including reinsurance arrangements. It governs licensing, reporting, and supervisory cooperation with FINMA. The act underpins how insurers and reinsurers must operate within Switzerland to ensure policyholders and counterparties are protected.
Stay current with amendments to VAG and related ordinances, as these changes can affect cross-border reinsurance treaties and regulatory reporting requirements.
Source: Federal Law Portal - VAG
Reinsurance is insurance for insurers. It transfers part of a risk from the ceding insurer to the reinsurer. Insurance is protection for a policyholder, while reinsurance protects the insurer from large losses.
Begin by reviewing the treaty language and the claim submission requirements. Gather all loss documents, proofs of loss, and communications with the ceding insurer. Engage counsel early to preserve rights under Swiss law.
In proportional reinsurance the reinsurer shares a fixed portion of losses and premiums. In non-proportional reinsurance the reinsurer covers losses above a specified threshold, often in excess-of-loss arrangements.
Yes if you are dealing with Swiss insurers, ceding companies, or regulatory bodies. A lawyer familiar with Swiss reinsurance practice can interpret treaty terms, manage disputes, and handle cross-border issues.
Resolution timelines vary widely depending on complexity and jurisdiction. Simple claim disputes may resolve within months, while complex litigation or arbitration can take a year or longer.
Fees depend on experience, case complexity, and the chosen fee arrangement. Request a written fee schedule and a retainer agreement before engagement.
Retrocession is reinsurance of reinsurance. A retrocessionaire provides coverage to the reinsurer, typically to spread risk further and improve capital efficiency.
Yes, disputes can be pursued through Swiss courts or arbitration, depending on the contract terms. International or cross-border elements may involve choice-of-law rules.
Insolvency affects how claims are treated and funded. A lawyer can help preserve remedies, preserve collateral, and navigate insolvency proceedings under Swiss law.
Review the denial letter and contract terms, gather evidence, request reconsideration, and, if needed, initiate negotiations or dispute resolution proceedings with a Swiss attorney.
Prepare the reinsurance treaty, any retrocession documents, claim letters, correspondence with the reinsurer, loss calculations, and relevant financial records.
Resolution may involve Swiss courts, arbitration, or a combination with applicable foreign law. A Swiss lawyer helps coordinate with foreign counsel and handle local procedures.
Disclaimer: This guide provides general information and does not constitute legal advice. For your specific situation, consult a licensed Swiss reinsurance attorney.
