From rockfall to the future – when safety is more than (just) a feeling
25 June, 2025 | Current General
The Swiss Insurance Association’s Insurers’ Day 2025 focused on the devastating rockslide in the Lötschental valley: with fast and unbureaucratic benefits, private insurers not only protect livelihoods, but also create trust and responsibility.
“On May 28, a gigantic rockslide shook the Lötschental – a village disappeared, three weeks later reliable figures were available: CHF 320 million in insured losses, including CHF 260 million for buildings and household contents and CHF 60 million for business interruption and vehicles,” said Dr. Stefan Mäder, President of the SIA. While suffering in francs is hard to grasp, it is precisely there that private insurers show their financial strength by acting quickly and providing uncomplicated help on the spot.
125 years of the SIA – from humble beginnings to the backbone of Switzerland
On December 14, 1900, insurers met in the train station buffet in Olten to found the Swiss Insurance Association SIA in order to develop from an agrarian society into the world of services. Today, the SIA represents 70 members and over 95 percent of all premium income, which is proof of the industry’s broad legitimacy in the state and society.
More than just a feeling: security as a framework for innovation
“Security is more than just a feeling,” emphasized the SIA President: it is about mathematics, risk management and responsibility that offer stability and enable freedom. In this way, the industry not only creates financial protection, but also the foundation for innovative technologies, prevention and sustainable provision.
Between regulation and personal responsibility
At the same time, insurers are calling for risk-appropriate regulation: The community of policyholders and the market should not be weakened by excessive requirements. Personal responsibility remains central. Be it in natural hazard prevention, cyber security or retirement provision, in which CHF 1,300 billion is invested in the 2nd pillar and CHF 13 billion flows into the 3rd pillar every year.
Rethinking security – responsibility and intergenerational justice
A young politician and two young politicians pointed out to the industry that security is not just about covering risks, but also requires long-term social viability and a fair intergenerational contract. During a lively panel discussion on the topic of old-age provision, the younger generation called for an end to polarization. The ability to compromise is essential to enable sustainable reforms. Their impression was that many young people understand neither the AHV nor the mechanism of the BVG. They lack basic knowledge before solutions can even be discussed.
Political culture as the foundation of security
For Maya Tharian (Co-President of the Young Green Liberals) and her fellow campaigners Jonas Lüthy (President of the Young Liberals) and Marc Rüdisüli (President of Die Junge Mitte), security also means political participation. They demand precise information, transparent models and early involvement. Only those who understand the system and its effects can participate responsibly and strengthen the intergenerational contract.
Retirement age, control mechanisms and alliances
It was agreed that an automatic system for adjusting working life should be enshrined in the constitution. The same applies to a mix of VAT and solidarity-based financial participation by older age groups. However, it remains crucial to forge alliances across party lines and initiate debates at an early stage instead of passing on hot potatoes.
Looking ahead: strengthening resilience
Experience from the Lötschental shows: Private insurers are ready in an emergency. For the coming years, this means maintaining framework conditions, promoting market mechanisms and taking joint responsibility to ensure that security remains more than just a good feeling in the future. After all, security is a generational achievement that is not created by financial cushions alone, but by a living community, dialog and far-sighted policies.
Despite the serious topic, Insurers’ Day 2025 was one of the most cheerful and atmospheric events in a long time.
Binci Heeb
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