Since September 1, 2024, cold calling has been banned by law for insurance intermediaries in Switzerland. The Swiss Financial Market Supervisory Authority (FINMA) has already received over 100 reports of violations. In the private supplementary health insurance sector, FINMA is responsible for penalizing violations of the cold calling ban and has launched investigations into four companies. The goal is to immediately stop these abusive practices.
Furthermore, there are indications that some market players are attempting to circumvent the cold calling ban by using alternative communication channels. Within its jurisdiction, FINMA is also investigating these attempted circumventions.
FINMA’s primary mission is to protect citizens and ensure the proper functioning of financial markets. The notification invites people who have been victims of abusive phone calls regarding supplementary health insurance to report these incidents.
