estimates the probability that the effective loss will be less than or equal to the value at risk. SERV calculates with a confidence factor of 99.9 percent.
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SERV defines a waiting period as the time between the occurrence of the insured risk and the occurrence of the insured event. During this period, it is assumed that the payment may be delayed.
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Subsidiarity is a statutory prohibition on replacing private-sector providers. In other words, SERV does not insure any risks if there is an adequate market supply of insurance for them (art. 6 (1) d SERVG)
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Glossar
Confiscation risk insurance
Under confiscation risk insurance, SERV insures goods which have been exported for storage, exhibition or testing against confiscation, loss of power of disposal and destruction or damage. The maximum
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SERV defines unearned premiums as insurance premiums received in the year under review or in a previous year that are not earned until later in the policy term due to the special risk profile of the t
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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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