All Countries
Insurance
Insurance Addendum

Insurance Addendum Template for Switzerland

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Insurance Addendum

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Insurance Addendum

"I need an Insurance Addendum to modify our existing commercial property insurance policy to include cyber risk coverage with an increased premium of CHF 50,000 per annum, effective March 1, 2025."

Celebrated by
Collaborations with
Investors
Document background
An Insurance Addendum is essential when parties need to modify an existing insurance contract without creating an entirely new agreement. Under Swiss law, this document type is commonly used to implement changes in coverage, adjust premiums, update terms and conditions, or respond to regulatory requirements. The addendum must comply with the Swiss Insurance Contract Act (VVG/LCA) and be approved by both the insurer and policyholder. It typically includes details of the original policy, specific modifications, effective dates, and any premium adjustments. This document is particularly important in Switzerland's highly regulated insurance market, where contract modifications must meet strict legal and regulatory requirements while maintaining transparency for all parties involved.
Suggested Sections

1. Parties: Identification of the insurer and the policyholder, including full legal names and addresses

2. Background: Reference to the original insurance contract, including date, policy number, and reason for modification

3. Definitions: Key terms used in the addendum, particularly any new terms not defined in the original contract

4. Scope of Modification: Clear statement of what aspects of the original contract are being modified

5. Effective Date: Specification of when the modifications take effect

6. Modified Terms: Detailed description of the new or amended terms

7. Premium Adjustment: Any changes to premium amounts or payment terms

8. Confirmation of Other Terms: Statement that all other terms of the original contract remain unchanged

9. Governing Law: Confirmation of Swiss law application

10. Signatures: Execution block for all parties

Optional Sections

1. Claims Procedure Modifications: Include when changes affect the claims process

2. Regulatory Compliance Statement: Include when modifications are driven by regulatory changes

3. Risk Assessment Update: Include when modification involves changed risk factors

4. Broker/Intermediary Details: Include when a broker or intermediary is involved in the modification

5. Cancellation Rights: Include when modification affects cancellation terms

6. Dispute Resolution: Include when changing dispute resolution procedures

7. Transition Provisions: Include when implementation of changes requires a transition period

Suggested Schedules

1. Schedule of Modified Coverage: Detailed breakdown of coverage changes, including limits and deductibles

2. Premium Calculation Schedule: Mathematical calculation of adjusted premiums

3. Risk Assessment Report: Updated risk assessment details if coverage or terms are significantly modified

4. Regulatory Compliance Checklist: Checklist confirming compliance with relevant Swiss insurance regulations

5. Document Checklist: List of all documents that form part of the modified insurance contract

6. Claims History: Relevant claims history affecting the modification, if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Clauses
Modification
Premium Adjustment
Coverage Amendment
Term Extension
Risk Modification
Claims Procedure
Payment Terms
Compliance
Governing Law
Regulatory Requirements
Notice Requirements
Representations and Warranties
Duration
Termination
Force Majeure
Assignment
Severability
Entire Agreement
Confidentiality
Data Protection
Dispute Resolution
Insurance Territory
Policy Limits
Exclusions
Conditions Precedent
Broker Authority
Documentation Requirements
Reporting Obligations
Premium Calculation
Risk Assessment
Relevant Industries

Insurance

Banking and Financial Services

Healthcare

Manufacturing

Real Estate

Construction

Transportation and Logistics

Professional Services

Retail

Technology

Energy

Agriculture

Hospitality

Relevant Teams

Legal

Compliance

Risk Management

Insurance Operations

Claims Processing

Underwriting

Regulatory Affairs

Contract Administration

Finance

Business Development

Client Relations

Policy Administration

Relevant Roles

Insurance Underwriter

Risk Manager

Compliance Officer

Legal Counsel

Insurance Claims Manager

Policy Administrator

Insurance Broker

Contract Manager

Chief Risk Officer

Insurance Operations Manager

Regulatory Affairs Specialist

Account Executive

Business Development Manager

Corporate Counsel

Finance Director

Industries
Swiss Federal Insurance Contract Act (VVG/LCA): The primary legislation governing insurance contracts in Switzerland, covering formation, content, and termination of insurance contracts, including provisions for modifications and amendments
Swiss Code of Obligations (OR/CO): Contains general contract law principles applicable to all contracts, including insurance contracts and their modifications
Swiss Civil Code (ZGB/CC): Provides fundamental principles of Swiss private law, including legal capacity and general principles of good faith relevant to contract modifications
Federal Insurance Supervision Act (VAG/LSA): Regulates insurance companies and their operations, including requirements for policy modifications and customer protection
Insurance Supervision Ordinance (AVO/OS): Implements the Insurance Supervision Act, providing detailed regulations for insurance operations and contract requirements
FINMA Circulars on Insurance: Regulatory guidance from the Swiss Financial Market Supervisory Authority regarding insurance contract practices and requirements
Swiss Federal Act on Unfair Competition (UWG/LCD): Contains provisions protecting against unfair business practices in insurance contracts and their modifications
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Waiver Of Liability (Insurance)

A Swiss-law governed document where an insured party waives specific insurance-related rights or claims, compliant with VVG and OR requirements.

find out more

Fronting Agreement (Insurance)

A Swiss-law governed agreement between insurers establishing a fronting arrangement where one insurer issues policies while transferring the risk to another insurer/reinsurer.

find out more

Agency Agreement (Insurance)

A Swiss law-governed agreement establishing an agency relationship between an insurance company and agent, compliant with Swiss insurance regulations and FINMA requirements.

find out more

Insurance Confidentiality Agreement

Swiss law-governed confidentiality agreement specifically designed for insurance industry participants, ensuring protection of sensitive insurance-related information and compliance with Swiss regulations.

find out more

Insurance Addendum

A Swiss law-governed document that modifies an existing insurance contract, complying with Swiss insurance regulations and the VVG/LCA framework.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.