Switzerland: Financial Sector Assessment Program: Factual Update: Insurance Sector Market and Regulatory Developments

June 13, 2007

Preview Citation

Format: Chicago

Switzerland: Financial Sector Assessment Program: Factual Update: Insurance Sector Market and Regulatory Developments, (USA: International Monetary Fund, 2007) accessed November 21, 2024

Summary

This paper presents a factual update of the Insurance Core Principles including insurance sector market and regulatory developments for Switzerland. Regulatory reforms since 2003 have updated Switzerland’s regulatory and supervisory regime for the insurance industry to bring it in line with international best practices. The Insurance Supervision Law (ISL) has reoriented the regulatory focus and expanded the regulatory scope to include group/conglomerate supervision, corporate governance, risk management, and market conduct of insurance intermediaries. The ISL also provides for a range of corrective and preventive regulatory measures.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Financial institutions, Financial regulation and supervision, Financial Sector Assessment Program, Financial sector policy and analysis, Insurance, Insurance companies, Insurance Core Principles, Insurance supervision, Solvency

Keywords: A number of insurer, Anti-money laundering and combating the financing of terrorism (AML/CFT), Conglomerate supervision, CR, Earthquake insurance, Financial market policy, Financial Sector Assessment Program, FOPI-s supervision philosophy, FOPI-SO, Global, Insurance, Insurance companies, Insurance cooperative, Insurance Core Principles, Insurance coverage, Insurance market, Insurance supervision, Insurer, Insurers-corporate governance practice, Insurers-risk management, Intermediaries vis-à-vis, ISCR, Licensing insurer, Life insurer, Market conduct of insurance intermediary, Monopolisticcantonal insurer, Occupational pension insurance ear, Solvency, Solvency regime, Supervision philosophy

Publication Details

Pages:

20
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/203
Stock No:

1CHEEA2007008
ISBN:

9781451807387
ISSN:

1934-7685

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