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SERV defines loading as its earned premium minus the average expected annual loss. Loading is required to calculate economic viability.
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SERV defines earned premiums as the portion of insurance premiums that is recognised as income and that covers the risk assumed in the current financial year.
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SERV defines commitment as the total of all maximum loan amounts (including the insured interest) multiplied by the cover ratio for all written insurances and guarantees (IP).
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Glossar
Framework of obligation
The framework of obligation is the maximum insurance obligation assumed by SERV. It must be approved by the Federal Council and currently stands at CHF 14.0 billion.
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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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