The Switzerland travel insurance policy includes the option of reimbursement of the visa fee for an additional premium. If the visa gets rejected for no fault or negligence on the policyholder's part, the visa fee will be reimbursed.
The policyholder can go for cancellation of the travel policy, due to denial of visa, upon providing documentary proof, such as a written request and copy of passport/visa denial letter. The premium will be refunded, subject to policy terms and conditions.