Glossar
Contract bond insurance
exporter to the foreign debtor (bid, advance payment, delivery, service, performance or warranty bonds). SERV contract bond insurance covers these guarantees from the risk of being unfairly called.
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Glossar
Compensation reserve (CR)
with risk-bearing capital (RBC), core capital (CC) and net income (NI), constitutes the capital of SERV. The CR is a risk buffer that absorbs fluctuations in RBC and CC as risk valuations vary over time
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such as whirlwinds, flooding, earthquakes, volcanic eruptions, flood tides, or nuclear accidents. SERV insures the risk that a force majeure event outside Switzerland will make it impossible or impracticable
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n of the debt burden. In restructuring, outstanding claims are renegotiated in a contract between SERV or the policyholders and the debtor.
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Glossar
Working capital insurance
capital insurance covers a working capital loan for a Swiss company’s export that can be insured by SERV. It protects the financial institution providing credit against insolvency or unwillingness to pay
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ratio is 90 percent, cover up to the full sum guaranteed is possible in justified, exceptional cases. SERV provides counter guarantees to complement the contract bond.
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Glossar
Export Risk Guarantee ERG
in 1934 – originally to combat unemployment – and replaced in 2007 by Swiss Export Risk Insurance SERV. It was a significant driver of Switzerland’s economic development. In ERG’s peak years, the Swiss
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Glossar
Principles of Swiss foreign policy
peoples as well as the conservation of natural resources (art. 54 para. 2 of the Swiss Constitution). SERV abides by these principles in its business operations.
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abroad or domestic government measures (export prohibitions). Depending on the insurance product, SERV can cover the risk that political causes will make it impossible or impracticable to continue man
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Glossar
Risk-bearing capital (RBC)
corresponds to the “Technical provisions” typically used in the insurance industry. In accordance with SERV-V, provisions for losses not yet incurred must be shown as equity items. The RBC is determined by
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