FINSA – The exclusive professional liability insurance for financial service providers
Client advisors of non-FINMA supervised Swiss or foreign financial service providers having clients in Switzerland must generally register with the Swiss client advisor registry under the Swiss Financial Services Act. One of the key requirements for entry is the conclusion of a professional liability insurance with sufficient coverage.
No.Client advisors |
Insurance coverage | Deductible | Annual premium incl. 5% stamp tax | Applicationform |
|---|---|---|---|---|
| 1 | VS CHF 500’000 | CHF 5’000 | CHF 940 | Application PDF |
| 2 – 4 | VS CHF 1’500’000 | CHF 5’000 | CHF 2’500 | Application PDF |
| 5 – 8 | VS CHF 3’000’000 | CHF 5’000 | CHF 5’600 | Application PDF |
| 9 – 12 | VS CHF 10’000’000 | CHF 20’000 | CHF 14’000 | Application PDF |
| Included additionl coverages according to the general insurance terms | Sublimits |
|---|---|
| Protection against criminal law | 50% Insurance coverage, max. CHF 500‘000 |
| Liability for dishonest employees | CHF 50’000 |
| Legal protection insurance in case of investigations | CHF 250’000 |
| Loss of foreign documents | CHF 250’000 |
| Reputational costs | CHF 250’000 |
| Director and officer insurance with third parties (lump sum) *
*Coverage in case of insurance brokers not included. |
50% of insurance coverage, max. CHF 1‘000‘000
(only covered if no seperate D&O insurance) |
| Breach of personal and intellectual property rights | CHF 250’000 |
| Emergency costs | CHF 50’000 |
| Compensation as witness (no deductible) | CHF 750 per day on which a natural person is interrogated at court |
| Legal protection in supervisory or administrative procedures | 50% of insurance coverage max. CHF ‘500‘000 |
| Co- insurance of personal and property damage | CHF 3‘000‘000 (with deductible- of CHF 300 for property damage) |
| Cyber | CHF 250‘000 |
