Chương 3 Nghị định 42/2001/NĐ-CP: Đại lý bảo hiểm, doanh nghiệp môi giới bảo hiểm

Chapter III

INSURANCE AGENTS, INSURANCE BROKERAGE ENTERPRISES

Section 1. INSURANCE AGENTS

Article 28.- Principles for insurance agency activities

1. Organizations and individuals that conduct insurance agency activities must meet all conditions for agency activities as provided for in Article 86 of the Law on Insurance Business and must sign insurance agency contracts under the provisions of Article 87 of the Law on Insurance Business.

2. Officials and employees of insurance enterprises must not work as insurance agents for their insurance enterprises.

3. Organizations and individuals must not work concurrently as insurance agents for other insurance enterprises unless they get the approval thereof from the insurance enterprises for which they are working as agents.

Article 29.- Rights and obligations of insurance enterprises in insurance agency activities

1. Insurance enterprises shall have the following rights:

a/ To select insurance agents and sign insurance agency contracts;

b/ To set the insurance commission levels in insurance agency contracts according to the provisions of law;

c/ To receive and manage deposits or pledged properties of insurance agents if it is so agreed upon in the insurance agency contracts;

d/ To request insurance agents to pay collected insurance premiums as agreed upon in insurance contracts;

e/ To inspect and supervise the performance of insurance agency contracts;

f/ To enjoy other legitimate interests from insurance agency activities.

2. Insurance enterprises shall have the following obligations:

a/ To organize training and issue agency training certificates in accordance with the provisions of law;

b/ To guide and supply fully and accurately necessary information related to insurance agency activities;

c/ To fulfill responsibilities arising from insurance agency contracts already signed;

d/ To pay commissions as agreed upon in insurance agency contracts;

e/ To return to insurance agents deposits or pledged properties as agreed upon;

f/ To take responsibility for damage or losses caused by activities of their insurance agents as agreed upon in insurance agency contracts;

g/ To submit to the competent State bodies’ inspection and supervision of activities carried out by their insurance agents.

Article 30.- Rights and obligations of insurance agents

1. Insurance agents shall have the following rights:

a/ To select and sign insurance agency contracts with insurance enterprises strictly according to the provisions of law;

b/ To attend training and fostering courses organized by insurance enterprises to raise their professional levels;

c/ To be provided with information needed for their activities and other conditions for performing insurance agency contracts;

d/ To enjoy commissions and other legitimate rights and interests from insurance agency activities;

e/ To request insurance enterprises to return their deposits or pledged properties as agreed upon in insurance agency contracts.

2. Insurance agents shall have the following obligations:

a/ To fulfill commitments made in insurance agency contracts already signed with insurance enterprises;

b/ To place deposits or mortgage their properties to insurance enterprises if it is so agreed upon in insurance agency contracts;

c/ To introduce, invite and sell insurance; to supply adequate and accurate information to the insurance buyers; to perform insurance contracts within the scope authorized in insurance agency contracts;

d/ To submit to the inspection and supervision by competent State bodies and fulfill all financial obligations according to the provisions of law.

Article 31.- Training of insurance agents

1. Organizations permitted to train insurance agents include insurance enterprises and Vietnam Insurance Association.

2. Conditions for training of insurance agents include:

a/ Having a training program as provided for in Article 32 of this Decree;

b/ Insurance agency trainers must have professional knowledge of insurance, law knowledge and pedagogic skills;

c/ Having adequate material foundations to ensure the training.

3. Insurance enterprises and Vietnam Insurance Association that wish to train insurance agents must send their written requests to the Ministry of Finance for approval of the insurance agent training programs, enclosed with documents explaining the knowledge of the trainers of insurance agents as well as material foundations to ensure the training. Within 30 days after receiving the written requests of insurance enterprises or Vietnam Insurance Association, the Ministry of Finance must reply in writing whether it accepts or refuses to accept such requests. In case of refusal, the Ministry of Finance must clearly explain in writing the reasons therefor.

Article 32.- Insurance agent-training program

The insurance agent-training program shall include the following principal contents:

1. General knowledge about insurance.

2. Responsibilities of agents, agency practicing ethics.

3. The legislation on business insurance.

4. Contents of insurance products that insurance enterprises are licensed to deal in.

5. Insurance sale skills.

6. Rights and obligations of insurance enterprises and insurance agents in insurance agency activities.

7. Practicing of insurance agency activities.

Article 33.- Management of insurance agent training

1. The Ministry of Finance shall have the responsibility to inspect and supervise insurance agent-training activities. Where insurance enterprises or Vietnam Insurance Association fails to meet all insurance agent-training conditions specified in Article 31 of this Decree, the Ministry of Finance shall suspend their insurance agent-training activities.

2. Annually, insurance enterprises and Vietnam Insurance Association shall have to report to the Ministry of Finance on the number of training courses already organized, the number of trained agents and the number of certificates already granted in the year.

Section 2. INSURANCE BROKERAGE ENTERPRISES

Article 34.- Types of insurance brokerage enterprises

The types of insurance brokerage enterprises include:

1. State-run insurance brokerage enterprises.

2. Joint-stock insurance brokerage companies.

3. Insurance brokerage limited liability companies.

4. Insurance brokerage partnerships.

5. Private insurance brokerage enterprises.

6. Joint-venture insurance brokerage enterprises.

7. Insurance brokerage enterprises with 100% foreign-invested capital.

Article 35.- Granting of establishment and operation licenses

1. Organizations and individuals that wish to conduct insurance brokerage activities under the provisions of Article 90 of the Law on Insurance Business shall have to establish insurance brokerage enterprises.

2. The granting of establishment and operation licenses of insurance brokerage enterprises shall comply with Article 93 of the Law on Insurance Business. Particularly, dossiers of application for establishment and operation licenses of insurance brokerage enterprises are not required to state the mode of deduction for setting up professional reserves, the reinsurance program, capital investment and the solvency in the business plan.

3. Insurance brokerage enterprises that are granted establishment and operation licenses must pay a fee therefor. The fee level per granting is equal to 0.1% of legal capital.

Article 36.- Principles for insurance brokerage activities

Insurance brokerage enterprises may only counsel and introduce to the buyers the regulations, terms and insurance premium tables already promulgated or approved by, or registered by insurance enterprises with, the Ministry of Finance.

Article 37.- Application of other regulations

The procedures to be completed before starting operation, the forms of organization of operations of insurance brokerage enterprises, changes in the operation contents, scopes and durations of insurance brokerage enterprises, and the regulations on chairmen of the Managing Boards, general directors (directors) shall comply with the provisions of Articles 8, 10, 13 and 14 of this Decree.