Article written by Julie Pignier

New Insurance Intermediation Regulations from 1 January 2024

From 1 January 2024, the revised Insurance Supervision Act and the revised Supervision Ordinance (ISA) will come into force, providing a more stringent framework for insurance intermediation, which includes insurance brokers.


According to Finma, an insurance intermediary is “any person who, irrespective of their designation, acts for insurance undertakings or other persons with a view to concluding insurance contracts or concludes such contracts (art. 40 Insurance Supervision Act ISA) “1.


According to the Confederation’s website, “the Insurance Supervision Act regulates the supervision of insurance undertakings and insurance intermediaries by the Confederation. One of its aims is to protect policyholders against the risks of insolvency of insurance undertakings and against abuses. “2


Insurance brokers will therefore be subject to a number of obligations:

  • Entry in FINMA’s public register: the main brokers concerned must register by the end of 2023,
  • Monitoring obligations: a detailed report must be submitted to FINMA every year,
  • Financial security: insurance intermediaries will have to take out professional indemnity insurance,
  • Transparency: from now on, insurance intermediaries will have to clearly disclose to their customers and prospective customers the remuneration they receive from insurance companies.
  • Costs: from 1 January 2024, registered insurance intermediaries will have to pay an annual supervision fee.
  • Training requirements: all those involved must acquire the skills necessary for their activity and provide proof of this. “The aim of the new regulations is to ensure the profession’s professionalisation and to strengthen the protection of policyholders.


Insurance companies, for their part, must ensure that brokers working for them meet the legal requirements and are entered in the FINMA register.


Thanks to these new regulations, it will be much easier for customers to assess the bona fides and professionalism of their broker, and to know whether the policies offered are the most suitable or result in better remuneration for the broker.





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