Assurance pour les médecins
Insurance broker for doctors in Switzerland: the FINMA register
Check an insurance broker in the FINMA register, their mandate and their remuneration before entrusting them with the professional liability, daily sickness…
Table of contents
- Broker, tied agent, health insurer adviser: who represents whom?
- How do you check a broker in the FINMA register in three minutes?
- How much does a broker cost: brokerage included or fees?
- What does a broker cover for a medical practice?
- Independent broker or direct insurer: the Fribourg example
- What does a brokerage mandate contain, and how do you exit it?
- What questions should you ask before signing?
- The three checks to remember
- Frequently Asked Questions
Broker, tied agent, health insurer adviser: who represents whom?
A broker mandated by you defends your interests. A tied agent defends those of the insurer to which they are attached. The health insurer's adviser sells the products of their insurer, full stop. The Insurance Supervision Act (ISA) draws this distinction and attaches concrete consequences to it.
The untied intermediary acts for the client, often on the basis of a mandate, and compares several offers. The tied intermediary is bound by one or more contracts with insurers and can only offer their products. Both must disclose their identity, their status and any link with an insurer from the first contact, in accordance with the information obligations of the ISA (art. 45).
For a medical practice, the practical stakes are clear. Professional liability, daily sickness allowance (IJM) and the staff's BVG pension plan are three separate contracts, often with three different insurers. A tied agent will show you only their own rates. An untied broker can, in theory, compare the whole market.
Under the ISA, every insurance intermediary must inform the client of their identity and status, tied or untied, before any contract is concluded. This information is the first thing to demand from a cold caller.
| Criterion | Untied broker | Tied agent | Health insurer adviser |
|---|---|---|---|
| Whom they represent | The client, often on the basis of a mandate | The insurer to which they are attached | Their health insurer |
| Products they can offer | Comparison of several insurers (in theory, the whole market, depending on their access) | Only the products of the insurers with which they have a contract | Only the products of their health insurer |
| Obligation to declare identity, status and any link (ISA art. 45) | Yes, from the first contact and before any contract is concluded | Yes, from the first contact and before any contract is concluded | Yes, like any insurance intermediary: identity and status to be disclosed before any contract is concluded |
| Typical method of remuneration | Fee-based mandate (CHF 150 to 300/h as a market order of magnitude) or insurer's commission included in the premium (5% to 20%) | Remuneration paid by the insurer (salary or commission) | Remuneration paid by the health insurer (salary or commission) |
Whom they represent
Untied brokerThe client, often on the basis of a mandate
Tied agentThe insurer to which they are attached
Health insurer adviserTheir health insurer
Products they can offer
Untied brokerComparison of several insurers (in theory, the whole market, depending on their access)
Tied agentOnly the products of the insurers with which they have a contract
Health insurer adviserOnly the products of their health insurer
Obligation to declare identity, status and any link (ISA art. 45)
Untied brokerYes, from the first contact and before any contract is concluded
Tied agentYes, from the first contact and before any contract is concluded
Health insurer adviserYes, like any insurance intermediary: identity and status to be disclosed before any contract is concluded
Typical method of remuneration
Untied brokerFee-based mandate (CHF 150 to 300/h as a market order of magnitude) or insurer's commission included in the premium (5% to 20%)
Tied agentRemuneration paid by the insurer (salary or commission)
Health insurer adviserRemuneration paid by the health insurer (salary or commission)
Key takeaway
Only the untied intermediary compares several insurers for the client; the tied agent and the health insurer adviser present only the products of their insurer or their health insurer, hence the importance of demanding their status from the first contact.
Source: ISA art. 45 (information obligations of insurance intermediaries) — fedlex.admin.ch; register of insurance intermediaries — finma.ch
How do you check a broker in the FINMA register in three minutes?
A broker calls your reception and offers a free audit of the practice's policies. Before the meeting, open the FINMA register of insurance intermediaries (finma.ch, insurance intermediation section). Allow three minutes.
Procedure:
- Enter the name of the person or company in the register's search.
- Identify the category: untied intermediary (broker) or tied intermediary (agent).
- Read the address, the legal form and the date of registration.
- Check that the name on the business card is indeed the one in the register, not a similar trade name.
A broker who presents themselves as independent but appears in the category of tied intermediaries raises a transparency problem. A broker absent from the register cannot claim the status of untied intermediary.
If the registration is missing, ask in writing for the reason. An employee of a registered broker may be covered by their employer's registration: in that case, ask for the name of the registered company and check it. If no clear answer comes, sign nothing. FINMA states on its website that registration is not a quality label, but the minimum condition for practising.
How much does a broker cost: brokerage included or fees?
The broker is remunerated in two ways. First model: the commission paid by the insurer, included in the premium you pay. You receive no invoice, but the cost exists. Second model: a fee-based mandate, charged hourly or at a flat rate, where any commissions are passed back or deducted.
Market orders of magnitude, to be confirmed in each offer: commissions on property and personal insurance are often between 5% and 20% of the premium, depending on the line of business. Hourly advisory fees are frequently between CHF 150 and 300.
For a solo practice with professional liability cover of CHF 1,800 to 3,200 a year, a 10% commission represents CHF 180 to 320 annually. For a group practice with several doctors, staff and collective BVG cover, the total premium may exceed CHF 50,000 and the commission becomes a significant item.
The conflict of interest must be named: a broker paid on commission has an interest in placing the contract where the commission is highest. This is true of every broker, including medcourtage.ch. The remedy is simple: ask in writing for the amount of the commission on each policy proposed.
| Indicator | Value | Context |
|---|---|---|
| Market commission on the premium | 5% to 20% | Depending on the line of business (property, personal); included in the premium, with no separate invoice |
| Hourly advisory fees | CHF 150 to 300 | Fee-based mandate, charged hourly or at a flat rate; commissions passed back or deducted |
| Annual commission at 10% (solo practice) | CHF 180 to 320 | On professional liability cover of CHF 1'800 to 3'200 a year |
| Total premium of a group practice | > CHF 50'000 | Several doctors, staff and collective BVG cover: the commission becomes a significant item |
Market commission on the premium
Value5% to 20%
ContextDepending on the line of business (property, personal); included in the premium, with no separate invoice
Hourly advisory fees
ValueCHF 150 to 300
ContextFee-based mandate, charged hourly or at a flat rate; commissions passed back or deducted
Annual commission at 10% (solo practice)
ValueCHF 180 to 320
ContextOn professional liability cover of CHF 1'800 to 3'200 a year
Total premium of a group practice
Value> CHF 50'000
ContextSeveral doctors, staff and collective BVG cover: the commission becomes a significant item
Key takeaway
The cost of a broker remunerated on commission is invisible but real: modest for a solo practice, it becomes an item to negotiate as soon as premiums exceed CHF 50'000.
Source: Market orders of magnitude, to be confirmed in each offer — ISA (art. 45) for information obligations; FINMA register of insurance intermediaries (finma.ch)
What does a broker cover for a medical practice?
A broker works on the practice's business and pension contracts. The typical scope:
- Professional liability: cover for damage caused to patients, with a sum insured to be chosen according to the activity and specialty.
- Loss of earnings and IJM: maintaining the income of the doctor and the assistants in the event of illness or accident.
- Practice inventory: insured value of equipment, furniture and IT systems.
- Cyber: protection against the theft or blocking of patient data.
- Staff BVG pension: choice of pension fund, plan and employer's share.
Tardoc does not change your cover, but it does change the insured value of your practice: recalculate it. Likewise, the point value is used to estimate the annual turnover to be protected in the event of a work stoppage. A practice that bills CHF 600,000 a year does not have the same IJM needs as a part-time practice.
What the broker does not cover: basic LAMal health insurance. It is compulsory, its benefits are set by law and its regime falls under the FOPH and the FSIO. A broker can advise you on the deductible or the insurer, not on the content of basic cover. See also our guide to health insurance for self-employed doctors in Switzerland for this aspect.
Independent broker or direct insurer: the Fribourg example
Take a doctor opening a practice in Fribourg. They can contact an insurer's agency directly, for example Zurich Assurance Fribourg, which will present the products of that company. They can also approach a broker or an advisory firm such as LTY, which compares several offers on the market. These two names serve as an illustration of a comparison, without any commercial verdict.
The difference is structural. The insurer's agency gives you direct access and a single rate. The broker gives you a comparison, but only on condition that they have access to several insurers and tell you on what basis they chose them.
A rigorous approach: ask the direct insurer for a professional liability and IJM offer for your specialty. Ask the broker for the same. Place the two offers side by side on four criteria: sum insured, deductible, exclusions, annual premium in CHF.
The doctor thus keeps control of the decision. The aim is not to choose one of the two routes on principle, but to check that the proposed premium matches the cover actually needed for the specialty and the volume of procedures in the practice.
What does a brokerage mandate contain, and how do you exit it?
The brokerage mandate is the document that authorises the broker to act in your name with insurers. It must be in writing. Read five points in it.
- Duration: an open-ended mandate with six months' notice is more binding than an annually renewable mandate.
- Termination: notice period, written form, effective date.
- Exclusivity clause: it sometimes prevents you from entrusting another policy to a second broker.
- Access to policies: if you change broker, the former one must hand over the files and the policies in force. Insist on this clause.
- Remuneration: commission, fees or a mix, with the amounts.
If you change broker, a letter revoking the mandate addressed to the former broker and to the insurers is generally enough to transfer the management. The insurers then apply the new mandate.
Brokers who are members of the ACA association (aca-courtiers.ch) can refer to a fee schedule and professional rules. Ask whether the broker belongs to it and which scale applies, if any. Our article on the health insurance broker in Switzerland details these points on the personal insurance side.
What questions should you ask before signing?
Six closed questions, to be asked at the meeting, with a written answer as the key.
- Are you registered in the FINMA register as an untied intermediary, and under what exact name?
- Can you give me the written mandate before any approach to an insurer?
- What is the amount in CHF of the commission on each policy proposed?
- How many insurers have you actually consulted for my case?
- Can I terminate the mandate with three months' notice or less?
- In the event of my leaving, will you hand over all the policies and correspondence?
An evasive answer to any of these questions is information in itself. If the broker refuses to quantify their commission, ask yourself why.
The three checks to remember
Three checks are enough to rule out most of the risks: registration in the FINMA register, in the right category; a readable written mandate with a clear exit; and remuneration quantified policy by policy. All of it can be done in an hour.
medcourtage.ch remains subject to the same conflict of interest as any broker remunerated on commission: we say so, and we invite you to apply these checks to our own offer. If you want to know where the professional liability, IJM, insured value and BVG cover of your practice stand, request an audit of your policies from medcourtage.ch. You receive a factual reading of what you pay and of what you are covered for.
"This article is provided for information purposes only and does not constitute legal advice or a personalised recommendation; medcourtage.ch is an insurance broker registered with FINMA under number F01502264, and we invite you to consult a professional for any particular situation."
FAQ
Yes. An untied insurance intermediary must be registered in the FINMA register of intermediaries in order to practise. Check their name and category on finma.ch before signing a brokerage mandate.
Depending on the model, both are possible. The commission paid by the insurer is included in the premium. A fee-based mandate is invoiced directly to the practice. Ask for the amount in CHF for each policy proposed.
They can advise you on the deductible or the choice of insurer, but cannot alter the benefits of basic cover. These are set by law and supervised by the FOPH and the FSIO.
Revoke the mandate by written letter to the former broker, observing the notice period provided for. The new broker then notifies the insurers. Check that the original mandate provides for the handover of policies and files.
Ask them in writing for the name of the registered company that employs them. If they provide none, do not sign any mandate. An unregistered intermediary cannot present themselves as untied.
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