FAQ Regulations on Premium Calculation 2023


The premiums for various types of products (e.g. limits, pro-rata transactions) can now be calculated in an even clearer and more risk-adjusted way. Having a separate premium calculation for each product also creates more transparency.

More risk-adjusted:
Premiums for non-OECD products are calculated on the basis of the effective default risk experience.

SERV has made the regulations less complex than before. For transactions that do not fall under the OECD Arrangement, it will now apply the same standardised method for exporter risks and buyer risks.

The SERV premium tariff principally governs the principles, types, amounts, surcharges, discounts, charging and refunding of premiums. It is approved by the Federal Department of Economic Affairs, Education and Research (EAER) (SERV-V). The SERV premium tariff came into effect on 1 January 2021 and will continue to apply unchanged. The detailed calculation methods can be found in the premium regulations, which are based on the premi-um tariff. To optimise the actual calculation formulas, SERV is replacing the 2021 premium regulations with the new 2023 Regulations on Premium Calculation.

The issuing of insurance policies based on an insurance commitment in principle (ICP) is regulated by the 2021 premium regulations. Extensions and changes to an ICP are regulated by the 2023 Regulation on Premium Calculations (see Art. 5 of the Regulations). This rule applies from the date that the 2023 premium regulations come into effect.

The introduction of the new premium regulations is not expected to make much difference to total premium revenues. SERV’s aim is not to increase premium revenues, but rather to increase transparency, simplify the regulations and ensure that premiums are more aligned with the risk in each case. 

Under the new regulations, premiums are determined on the basis of effective default probabilities. This means that good rating levels will generally result in lower premiums. However, because a premium flat rate of 0.5 per cent of the order value has been introduced across the board to cover costs, this may lead to higher premiums in some cases.

SERV can only insure amounts owed for supplied goods and services. This also includes transactions for which receivables arise between the first and last delivery of the goods or services. These can now be insured with additional supplier credit insurance within the same project. However, SERV cannot insure claims for interim payments that are not linked to a specific delivery or service. 


The counter guarantee will only be issued once it has been paid, irrespective of the contract bond insurance. Each product will be treated separately. 

The minimum premium of CHF 250 will be charged for all new transactions for which STEx pricing is applied.

Letter ratings for exporters are only determined for a new application and a subsequent reanalysis.

To avoid having to pay a higher premium, applicants should report any changes as soon as possible, but definitely no later than the start of the risk period. 

Currently, the application portal only displays insurance applications. For the determination and communication of the insurance premium, it is necessary to first review the application and for the risks to be insured. 
After SERV has completed the review process and defined the scope and conditions of the insurance, the premium will be communicated upon issuing an insurance commitment in principle (ICP) or an insurance policy (IP). 
You can use the new premium simulator to get a general idea of how much the premium might be. 
For amendment requests, the adjustment of the coverage profile is decisive for the recalculation of the insurance premium. Because the coverage profile is not displayed in the application portal, and because the calculation method used for the initial application is not used for the recalculation, the premium for amendment requests in particular cannot be calculated through the application portal.

Coinsurance of SERV premiums is still handled in the same way as before under the 2023 Regulations on Premium Calculation. In general, a SERV premium can only be coinsured if it has been factored into the order value or co-financed in the loan agreement. Coinsurance is not possible without supporting documentation. 

When applying for an insurance commitment in principle (ICP), the applicant does not necessarily need to know the exact amount of the cofinanced premium. It is sufficient to inform SERV that the premium is to be cofinanced. The ICP will then be issued in a “higher” amount than requested to reflect the cofinanced premium, and the financed portion of the premium will be shown separately. 

When issuing an insurance commitment in principle (ICP), it is sufficient for the bank to inform SERV when the letter of credit is due to be confirmed. For the purpose of estimating the risk period, it is important that the bank lets SERV know whether the letter of credit is pay-able at sight or the payment will be deferred, as well as when the letter of credit is to be uti-lised. 
SERV can only calculate the actual premium once the letter of credit has been confirmed and when it issues the insurance policy shortly before or shortly after the confirmation.