Insurance Litigation in Switzerland

Insurance legislation in Switzerland

Switzerland has a comprehensive legislation in insurance which covers both private individuals and legal entities. The private insurance laws are:

• -          the Federal Insurance Supervision Act,
• -          the Federal Ordinance on the Supervision of Private Insurance Companies,
• -          the Federal Insurance Contract Act.

The Swiss regulatory framework was last modernized in 2006 in order to cover reinsurance. All Swiss insurance companies are supervised by the Swiss Financial Market Supervisory Authority (FINMA). Our Swiss lawyers can provide you with information related to the types of insurance policies you can contract in this country.

Disputes related to insurance policies in Switzerland

Swiss citizens and companies have the possibility to conclude several types of insurance policies. However, there are situations in which insurance contracts are not respected and conflictual situations can occur. Most litigation cases related to insurance claims are usually settled in court, but the law also covers the insured party in certain situations. The terms of the insurance contract usually provide for the events covered by the agreement and also specifies that the insured party must notify the insurer as soon as possible about the incident or in a maximum period of two years. If the insurer fails to honor the contract, the insured has two ways of settling the dispute:

• -          by revoking the contract,
• -          by filing a petition with a Swiss court.

For legal representation in insurance litigation cases you can request the services of our attorneys in Switzerland.

Remedies in case of insurance litigation in Switzerland

Even if court litigation in insurance matters is available in Switzerland, the law does not provide for punitive damages in case of breaching the insurance contract. All insurance litigation cases are tried by civil courts in Switzerland. However, insurance companies can also add arbitration clauses in the contracts, and thus making arbitration procedures available in such disputes.

Some Swiss cantons have also enabled special commercial courts which handle insurance disputes. For legal representation in insurance and other litigation cases you can rely on our law firm in Switzerland.