SERV - Swiss Export Risk Insurance
What is SERV? Why do we often hear about it when it comes to foreign trade?
With its eighty employees, SERV is the Swiss Export Risk Insurance. It covers the political risks (embargoes/export bans, etc.) and del credere risks (commercial risks of losses on receivables) associated with the export (delivery) of goods and services. In other words, Swiss companies provide cover in the event of non-payment by their debtors (customers), and facilitate the financing of export transactions (facilitator activity). As a state-owned insurance company, SERV also helps to make high-cost credit more accessible.
How does SERV differ from other export insurance?
Of course, every exporting company benefits from insurance against these risks. However, SERV differs from private insurers in that it penetrates areas where other insurers are not competitive (subsidiarity principle).
Is SERV an independent organization? How is SERV financed?
No, our Federal Council supervises SERV (via the State Secretariat for Economic Affairs / SECO) and, in particular, elects the Board of Directors so that they can allocate the necessary reserves to meet the defined strategic objectives. The present Board of Directors is elected for a term of four years. SERV acts as a self-financing organization, with income derived from risk-adjusted premiums.
What are SERV's objectives and goals?
The objectives of export insurance include, first and foremost, maintaining and creating jobs in Switzerland. Indeed, the more international business transactions are insured, the greater the sales volume (lower risk) and the greater the need for qualified personnel. What's more, it ensures that Swiss exporters remain competitive, thereby contributing to overall competitiveness.
What are the conditions for SERV eligibility, and on what legal basis?
Many Swiss companies think that the eligibility requirements are enormous. But this is not true! Only export operations must contain a certain proportion of Swiss added value (min. 20%), and the company must have its head office in Switzerland and be entered in the commercial register. There is therefore no minimum volume limit, nor any restriction as to the branch or type of good/service. As an institution under public law, SERV complies with the Swiss Export Risk Insurance Act (SERVG) and its associated Ordinance (SERV-V). Naturally, it must also take account of each nation's foreign policy in the fields of the environment, development, human rights, democracy and peaceful coexistence between peoples. These different areas are also taken into account by Switzerland Global Enterprise to help Swiss companies identify and exploit new business potential in the marketplace.
What products does SERV offer?
Products at last! Here is a presentation of the products offered by SERV
| Risks | Beneficiaries | Products |
| Wrongful call | Exporters / service providers | Insurance of contractual guarantees |
| Legitimate call | Exporters / service providers | Contract bond insurance |
| Force majeure | Exporters / service providers / financial institutions | Supplier credit insuranceManufacturing risk insuranceConfiscation risk insuranceContract bond insuranceBuyer credit insuranceL/C confirmation insurance |
| Buyer's commercial risk | Exporters / service providers / financial institutions | Supplier credit insuranceManufacturing risk insuranceBuyer credit insuranceL/C confirmation insurance |
| Exporter's commercial risk | Exporters / financial institutions | Counter guaranteeManufacturing credit insurance |
| Lender's commercial risk | Financial institutions | Refinancing guarantee |
| Transfer risk | Exporters / service providers / financial institutions | Supplier credit insuranceManufacturing risk insuranceContract bond insuranceBuyer credit insuranceL/C confirmation insurance |
| Political risk | Exporters / service providers / financial institutions | Supplier credit insuranceManufacturing risk insuranceContract bond insuranceBuyer credit insuranceL/C confirmation insurance |
