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LR-Nr.: 961.01, Appendix 4

Law on Supervision


Appendix 4


Obligations to Notify Policy holders
as specified in Art. 45 and 49


When a natural person is involved, insurance undertakings must inform the policy holder of the facts and rights which are important for the insurance relationship before the signing of the contract and during the term of a contract as specified in the following provisions. For the insurance of major risks, it shall be sufficient to state the applicable law and the competent Supervisory Authority. Such information must be communicated in writing.

Section I


  • 1. Information necessary for all branches of insurance:

    a) Name, address, legal form and domicile of the insurance undertaking and of a possible business establishment through which the contract is to be concluded;

    b) the general insurance conditions applicable for the insurance relationship including the tariff provisions and the law applicable to the contract shall be stated;

    c) details of the nature, scope and date of maturity of the benefit to be paid by the insurance undertaking insofar as general insurance conditions or tariff provisions are not applicable;

    d) information concerning the duration of the insurance relationship;

    e) information concerning the premium sum, with the premiums listed individually when the insurance relationship is to cover several independent insurance contracts, and concerning the mode of payment of premiums as well as information concerning any possible supplementary charges and additional expenses, also information concerning the total sum to be paid;

    f) information concerning the period of time for which the applicant is to be bound to the application;

    g) instruction about the right to revoke or to withdraw;

    h) the address of the competent Supervisory Authority to which the policy holder may refer in the event of complaints about the insurance undertaking.


    2. Information additionally necessary for life insurances and accident insurances with premium refund guarantee:

  • a) Details of the basis of calculation and of the standards valid for determining the surplus and the surplus participation;

    b) details of the surrender value;

    c) details of the minimum insurance sum for a conversion to an insurance free of premium and of the benefits from an insurance free of premium;

    d) details of the extent to which benefits according to sub-para. b and c are guaranteed;

    e) in the case of fund linked insurance, details of the fund on which the insurance is based and the type of assets contained therein;

    f) general details of the tax regulations applicable to this type of insurance.



    Section II


    Information to be provided by the insurance undertaking during the term of an insurance contract:

  • 1. Changes in the name, address, legal form and domicile of the insurance undertaking and of any possible business establishment through which the contract was concluded;

    2. changes in the information provided as specified in Section 1 No. 1 sub-para. c to e and No. 2 sub-paras. a to e if these ensue from amendments to provisions of law;

    3. annual notification concerning the state of the surplus participation in life insurance and accident insurance with premium refund.




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    Art. 9-12
    Art. 13-17
    Art. 18-23
    Art. 24-27
    Art. 28-34
    Art. 35-40
    Art. 41-47
    Art. 48-55
    Art. 56-61
    Art. 62-65
    Art. 66-68, part I of Appendix 1
    part II of appendix 1
    part III of appendix 1, appendix 2-3
    Appendix 4

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