The Swiss National Guarantee Fund fulfils the tasks of the National Guarantee Fund of the Principality of Liechtenstein (art. 1 of the exchange of notes dated 3 November 2003). The National Guarantee Fund of Liechtenstein is subject to supervision by the Financial Market Authority of the government of Liechtenstein (FMA), who also approves the amount of each Liechtenstein car holder’s annual contribution.
The member states of the EU/EEA are obliged to establish compensation bodies (Directive 2009/103/EC). They grant cover for losses to victims in the event that regular claims settlement processes after an accident abroad fail. After set time limits, the compensation bodies settle claims if claims representatives are missing or in default or if persons responsible for accidents or insurers cannot be identified.
Liechtenstein implements this requirement in art. 75c-d of the Liechtenstein Road Traffic Act SVG-FL.
In the case of liability for material damage caused by unknown motor vehicles, trailers, unknown cyclists or users of vehicle-like equipment, a deductible of EUR 500 or the equivalent in Swiss francs applies (art. 53 par. 3 VVV-FL). In Switzerland, this deductible is CHF 1000.