Since 1885, insurance companies within Switzerland have been subject to supervision. Those insured are protected by Swiss laws, which establish the range of the Federal Office of Private Insurance (FOPI), a regulatory body connected to the Federal Department of Justice and Police (FDJP). The FOPI has a staff of 30, with three separate sections: one for legal; one for life assurance; and another pertaining to accidents, illness, and damage insurance. Swiss insurance companies are required to be licensed by the FDJP to conduct business. Companies must set aside some of their own assets to protect investor funds. This is a legally mandated action, known as a “guarantee fund.” The FOPI conducts regular examinations of all aspects of the insurance industry, promoting a culture of financial excellence that is known worldwide.
The Swiss Alliance Group provides deferred annuity products for clients who hold vacation ownerships.