English translation of article 86 of the Swiss Insurance Supervision Act

Infringements

Chapter 8: Sanctions
> Art. 85 Courts
< Art. 87 Offences

This page contains an English translation of the below Article of the Swiss Insurance Supervision Act (ISA) and is part of a web based Swiss ISA commentary in German language. Should you require qualified written legal advice on the ISA from a Swiss lawyer please do not hesitate to contact: Melissa Gautschi

Article 86 of the Swiss Insurance Supervision Act 

Infringements

1 A fine of up to CHF 500,000 shall be imposed on anyone, who intentionally:

a. violates an obligation pursuant to article 13;

b. violates a notification duty pursuant to article 21;

c. fails to submit within the statutory period the business and regulatory reports pursuant to article 25;

d. fails to establish the technical reserves required under supervisory law or approved in individual cases;

e. violates one of the information duties pursuant to article 45;

f. fails to properly settle claims arising from motor third party liability insurance pursuant to article 79c paragraph 1 of the Road Traffic Act of 19 December 1958.

2 If the action is the result of negligence, the maximum fine shall be CHF 150,000.

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