{
  "id": "reg-finma-vag",
  "type": "regulation",
  "languages": {
    "en": {
      "id": "reg-finma-vag",
      "lang": "en",
      "type": "regulation",
      "title": "ISA / FINMA Insurance Supervision",
      "shortDefinition": "The Swiss Insurance Supervision Act (ISA/VAG) governs licensing, solvency (SST) and conduct duties of insurers as well as the registration of insurance intermediaries; the supervisory authority is FINMA.",
      "synonyms": [
        "Insurance Supervision Act",
        "VAG"
      ],
      "linesOfBusiness": [
        "All lines"
      ],
      "jurisdictions": [
        "CH"
      ],
      "tags": [
        "Supervisory law",
        "Switzerland"
      ],
      "relations": {
        "relatedTerms": [
          "reg-solvency-ii",
          "term-captive",
          "reg-vvg"
        ],
        "partOf": [],
        "appliesTo": [],
        "regulatedBy": [],
        "relevantFor": [],
        "insurableVia": [],
        "mitigatedBy": [],
        "comprises": [],
        "alternativeTo": [],
        "complementedBy": []
      },
      "attribute": null,
      "profile": null,
      "coverageProfile": null,
      "clause": null,
      "legalBasis": [
        "CH: Insurance Supervision Act (ISA, SR 961.01)"
      ],
      "standards": [],
      "reviewStatus": "expert-reviewed",
      "reviewedBy": "Guido Hesse, Hesse Group Holding AG",
      "lastReviewed": "2026-09-04",
      "version": "0.1.0",
      "updated": "2026-08-31",
      "generated": {
        "by": "process:reconstructed",
        "at": "2026-08-31T00:00:00.000Z"
      },
      "verified": [
        {
          "by": "human:ghesse",
          "at": "2026-09-04T00:00:00.000Z",
          "method": null
        }
      ],
      "staleAfter": null,
      "url": "https://hgh.ch/lexikon/en/knowledge/regulation/isa-finma-supervision/",
      "alternateUrl": "https://hgh.ch/lexikon/de/wissen/regulierung/vag-finma-aufsicht/",
      "body": "## Core elements\n\nThe ISA requires a licence to conduct business, sufficient solvency under the Swiss Solvency Test (SST), organisational requirements (governance, risk management, appointed actuary) and tied assets to secure claims arising from insurance contracts.\n\n## 2024 revision\n\nThe revised act introduced client-protection-based differentiation: relief for business with professional policyholders, an application procedure for innovative models, restructuring rules, and new conduct and training duties for intermediaries, including the distinction between tied and untied intermediaries.\n\n## Relevance for corporates\n\nBrokers must be entered in the FINMA register; captives are supervised with adapted requirements. Placing business with non-admitted foreign insurers is permitted only in narrow exceptions."
    },
    "de": {
      "id": "reg-finma-vag",
      "lang": "de",
      "type": "regulation",
      "title": "VAG / FINMA-Versicherungsaufsicht",
      "shortDefinition": "Das schweizerische Versicherungsaufsichtsgesetz (VAG) regelt Zulassung, Solvenz (SST) und Verhaltenspflichten der Versicherer sowie die Registrierung der Versicherungsvermittler; Aufsichtsbehörde ist die FINMA.",
      "synonyms": [
        "Versicherungsaufsichtsgesetz"
      ],
      "linesOfBusiness": [
        "Alle Sparten"
      ],
      "jurisdictions": [
        "CH"
      ],
      "tags": [
        "Aufsichtsrecht",
        "Schweiz"
      ],
      "relations": {
        "relatedTerms": [
          "reg-solvency-ii",
          "term-captive",
          "reg-vvg"
        ],
        "partOf": [],
        "appliesTo": [],
        "regulatedBy": [],
        "relevantFor": [],
        "insurableVia": [],
        "mitigatedBy": [],
        "comprises": [],
        "alternativeTo": [],
        "complementedBy": []
      },
      "attribute": null,
      "profile": null,
      "coverageProfile": null,
      "clause": null,
      "legalBasis": [
        "CH: Versicherungsaufsichtsgesetz (VAG, SR 961.01)"
      ],
      "standards": [],
      "reviewStatus": "expert-reviewed",
      "reviewedBy": "Guido Hesse, Hesse Group Holding AG",
      "lastReviewed": "2026-09-04",
      "version": "0.1.0",
      "updated": "2026-08-31",
      "generated": {
        "by": "process:reconstructed",
        "at": "2026-08-31T00:00:00.000Z"
      },
      "verified": [
        {
          "by": "human:ghesse",
          "at": "2026-09-04T00:00:00.000Z",
          "method": null
        }
      ],
      "staleAfter": null,
      "url": "https://hgh.ch/lexikon/de/wissen/regulierung/vag-finma-aufsicht/",
      "alternateUrl": "https://hgh.ch/lexikon/en/knowledge/regulation/isa-finma-supervision/",
      "body": "## Kernelemente\n\nDas VAG verlangt eine Bewilligung für den Geschäftsbetrieb, ausreichende Solvenz nach dem Schweizer Solvenztest (SST), organisatorische Anforderungen (Governance, Risikomanagement, verantwortlicher Aktuar) und gebundenes Vermögen zur Sicherstellung der Ansprüche aus Versicherungsverträgen.\n\n## Revision 2024\n\nDie revidierte Fassung bracht kundenschutzbasierte Differenzierungen: Erleichterungen im Geschäft mit professionellen Versicherungsnehmern, ein Gesuchsverfahren für innovative Modelle, Regeln zur Sanierung sowie neue Verhaltens- und Ausbildungspflichten für Vermittler, einschliesslich der Unterscheidung gebundener und ungebundener Vermittler.\n\n## Relevanz für Unternehmen\n\nBroker müssen im FINMA-Register eingetragen sein; Captives unterliegen der Aufsicht mit angepassten Anforderungen. Der Abschluss bei nicht zugelassenen ausländischen Versicherern ist nur in engen Ausnahmen zulässig."
    }
  }
}