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Disclaimer: Crystal is provided for information purposes; it does not constitute solicitation of business and is not intended to be a substitute for appropriate professional advice. Information relating to Lloyd’s Brussels Subsidiary may be subject to regulatory approval.

Pre-placement considerations
* Please see Authorisation for details of Lloyd's underwriters licensing status
Please see Authorisation for details of Lloyd's Brussels licensing status

Authorisation

Switzerland *
* Please see Authorisation for details of Lloyd's underwriters licensing status

Lloyd's

Reinsurance

Lloyd's underwriters are permitted to write all classes of reinsurance business originating in Switzerland except life, sickness and legal expenses reinsurance.

Last updated: 04 Sep 2019

click for more detail More detail

Insurance

Lloyd's underwriters are licensed for all classes except life, sickness and legal expenses.

Last updated: 05 Mar 2019


Definition of risk location

Switzerland *
* Please see Authorisation for details of Lloyd's underwriters licensing status

Lloyd's

Regulatory definition

According to Article 101b, Paragraph 5, of the Swiss Federal Law on the Insurance Contract of 2 April 1908 (SR 221.229.1), also called the Insurance Contracts Act 1908 (as amended), an insurance risk is located in Switzerland if it is:

(a) a building (and its contents issued under the same policy) situated in Switzerland;

(b) a motor vehicle, ship, yacht or aircraft registered in Switzerland;

(c) a travel and holiday policy, regardless of the type of insurance, for four months or less taken out in Switzerland;

(d) for any other type of insurance, if the policyholder is habitually resident in Switzerland or, if the policyholder is a legal person, the establishment to which the contract relates is situated in Switzerland.

Lloyd’s defines a Swiss reinsurance risk as a reinsurance or retrocession contract of an insurance company located in Switzerland.

For general guidance on identifying the location of a risk please refer to the risk locator.

Last updated: 04 Sep 2019


Compulsory classes

Switzerland *
* Please see Authorisation for details of Lloyd's underwriters licensing status

Lloyd's
The following classes are compulsory in Switzerland.
 

Third party liability insurance for or in connection with:

  • Aircraft (including hang gliders, paragliders, parachutes as well as balloons and aero-models weighing 0.5kg or more).
  • Cable cars, rail services and passenger transportation.
  • Clinical and non-clinical trials.
  • Doctors and other persons engaged in medical professions.
  • Export of waste which is subject to an authorisation.
  • Finance providers and credit brokers engaged in the granting of consumer credits.
  • Hunters.
  • Insurance brokers.
  • Motor vehicles.
  • Nuclear installations.
  • Operators of calibration facilities.
  • Operators of installations that carry a particular environmental risk.
  • Organizers of air shows, motorsport and cycling events, nautical shows and shooting events.
  • Private security companies.
  • Providers of certification services in the area of electronic signatures.
  • Shooting associations.
  • Solicitors.
  • The handling of genetically modified organisms.
  • The handling of pathogenic organisms.
  • The handling of radioactive substances and of installations and equipment capable of emitting ionizing radiation.
  • The performance of xenotransplantation.
  • The transport by pipeline of liquid or gaseous fuels and the transport of combustible materials.
  • Travelling trades, fairgrounds and circuses.
  • Yachts and inland craft (including kitesurfing), or other financial security.

Property insurances:

  • Fire insurance for buildings. This is a compulsory class in all of the 26 cantons. Local cantonal insurance institutions have a monopoly in 19 of these cantons. It is compulsory for fire insurance for buildings to include cover for damage caused by natural forces.
  • Fire insurance for building contents. This is a compulsory class in seven cantons. Local cantonal insurance institutions have a monopoly in two of these cantons. It is compulsory for fire insurance for buildings to include cover for damage caused by natural forces.

Social insurances:

  • Disability insurance.
  • Military insurance.
  • Occupational benefits insurance.
  • Old-age and survivors insurance.
  • Statutory sickness insurance.
  • Statutory unemployment insurance.
  • Statutory personal accident insurance ("UVG"). Employers must insure all their employees in Switzerland against occupational accidents and illnesses and some non-occupational accidents. 

The above list contains the main compulsory classes in Switzerland, but it is not exhaustive.

Last updated: 04 Sep 2019

Class specific regulations

Switzerland *
* Please see Authorisation for details of Lloyd's underwriters licensing status

Lloyd's
Property - fire and natural forces
Last updated: 11 Sep 2019