There is no government deposit insurance in Switzerland, with the exception of the Swiss cantonal bank account. But your deposits are probably safer in a Swiss bank than in most other banks in the world. Here's why:

Swiss banks have a private deposits insurance
Swiss banks have signed an agreement by which they agree to compensate depositors for up to Sfr.30'000 of their deposits in a bank if that bank goes bankrupt. Each bank would then pay a share of the total compensation proportional to their size. The Swiss postal is an exception since all deposits are fully guaranteed by the Swiss Government.

Swiss banks don't go bankrupt
Swiss banks have some of the strongest balance sheets in the world. They are regulated by the Swiss Federal Banking commission, the federal watchdog, which enforces very strict rules. Almost the only instances when banks encounter difficulties, about once in a decade, are for small savings and loans that loaned too much money on too little collateral. They are usually bought out by a larger bank.

Unlimited state deposit insurance for the Swiss cantonal account
Not convinced or want to hedge your bet? No problem. If you can abide by the strict minimum balance policy of the Swiss cantonal bank account, this account comes with 100% deposit insurance offered by one of the wealthiest cantons in Switzerland. Infinitely better than US FDIC, this unlimited state guarantee covers all your deposit.