Insurance Oversight Act (IOA)

In September 2016, the Federal Council instructed the FDF to prepare a revision of the Insurance Supervision Act (IOA) in collaboration with other authorities and the insurance industry. A legal basis should also be established which, in the event of insolvency, allows an insurance company to be restructured rather than left to go bankrupt. Furthermore, a client categorisation and associated facilitation by the supervisory authorities is to be introduced. In addition to other points for revision, the provisions on group supervision and insurance distribution should also be revised.

The Federal Assembly passed the bill in the final votes on 18 March 2022. The consultation procedure on the implementing provisions ended in September 2022.

The revised IOA and its implementing provisions will enter into force on 1 January 2024.

Further information

https://www.sif.admin.ch/content/sif/en/home/finanzmarktpolitik/finanzmarktregulierung-und--aufsicht-/regulierungsprojekte/versicherungsaufsichtsgesetz-vag.html