Switzerland Description Expanded Info

Switzerland IRV System Description


The Intercantonal Reinsurance Association (IRV in German: Interkantonale Rückversicherungsverband) offers reinsurance services in the areas of fire and natural damage. As an intercantonal corporation under public law, the IRV is not for profit and works exclusively for the Public Insurance Companies for Real Estate (KGV in German: Kantonalen Gebäudeversicherungen) of Switzerland.

IRV coverage encompasses the risk potential of cantonal insurance institutions. The IRV is thus part of a comprehensive security system for the benefit of the Swiss population.

In the event of natural disasters, damage is covered by solidarity-based risk sharing between the KGVs and the IRV. The Intercantonal Natural Elements Risks Community (IRG in German: Interkantonale Risikogemeinschaft Elementar) is the centerpiece of this solidarity-based risk sharing. This is a damage pool involving 18 KGVs as well as the IRV. Without the IRG, the KGVs would be on their own in the event of major natural damage exceeding the conventional reinsurance protection.

Other activities of the IRV include advice to KGVs on risk management, the development of statistical analyzes, valuation of major losses and also the management of capital investments.

Foundation: 1910.

Legal form: Corporation under public law.

The Public Insurance Companies for Real Estate of the following cantons are IRV’s members: Aargau, Appenzell Ausserrhoden, Basel-Landschaft, Basel-Stadt, Freiburg, Glarus, Graubünden, Jura, Luzern, Neuenburg, Nidwalden, Schaffhausen, Solothurn, St.Gallen, Thurgau, Waadt, Zug , Zurich (as of December 31, 2019).