Agreement with Liechtenstein on insurance against natural disasters comes into force
Bern, 18.08.2016 - On 17 August 2016, the agreement signed with Liechtenstein on insurance against natural disasters provided by private insurance companies came into force. The agreement increases legal certainty and transparency in the cross-border insurance business.
The relationship between Switzerland and Liechtenstein in the cross-border insurance business is governed essentially by the Direct Insurance Agreement of 19 December 1996. This agreement guarantees that an insurer with its registered office in one of the two countries can establish itself in the other country and can provide cross-border insurance services.
The agreement on insurance against natural disasters which has now entered into force, supplements the aforementioned Direct Insurance Agreement and increases legal certainty and transparency in the cross-border insurance business relating to natural disasters. Damage from natural disasters in the sense of the agreement refers to damage to buildings and chattels (movable property) caused by specific natural events.
Address for enquiries
Beat Werder, Head of Communications, State Secretariat for International Financial Matters SIF
Tel. +41 58 469 79 47, beat.werder@sif.admin.ch
Publisher
Federal Department of Finance
https://www.efd.admin.ch/efd/en/home.html
