Partial revision of the Insurance Contract Act (ICA)
The revised Insurance Contract Act (ICA) will come into force on January 1st, 2022. This is why SwissCaution is adapting its general terms and conditions and the information available to clients.
More than 110 years after its promulgation, the Insurance Contract Act, which governs relations between consumers and insurance companies, has been revised to meet current requirements. This revision notably improves the rights of the policyholder.
The revised provisions apply by law to all contracts concluded as of January 1st, 2022.
All of our clients must be able to benefit from these consumer-friendly changes. Therefore, SwissCaution is granting you all the new rights as of January 1st, 2022, even for insurance contracts already in force. (SwissCaution is more flexible than the legislation which only grants existing clients the ordinary right of withdrawal and the simplification for e-commerce).
Policyholders are now granted a reflection period of fourteen days to withdraw from the contract. In order to withdraw, the client must communicate his or her revocation (before the landlord receives the rental guarantee certificate) in writing or by any other means that can be proven by text. We remind you that you can cancel your rental guarantee insurance contract at any time, as long as you can present another guarantee solution which is accepted by your landlord.
You can now validly communicate your contract termination, for example by e-mail. You no longer have to sign your termination notice by hand. A text transmitted via a suitable medium without a signature is sufficient. We would like to remind you that your landlord must also send us a termination confirmation of the rental guarantee.
The introduction of the ordinary right of termination now gives you the possibility of terminating your insurance contracts, independently of a contractually agreed upon duration, for the end of the third year and each following year, respecting a cancellation period of three months.
SwissCaution already entitles you to terminate your contract at any time and this right will also be valid in the future. Today, you can terminate the contract at any time, provided that you can present the landlord’s consent to the termination of the rental guarantee contract with SwissCaution or if you provide another rental guarantee.
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