Chương V Nghị định 73/2016/NĐ-CP hướng dẫn Luật kinh doanh bảo hiểm và Luật kinh doanh bảo hiểm sửa đổi: Đại lý bảo hiểm và cơ sở đào tạo đại lý bảo hiểm

Chapter V

INSURANCE AGENCY AND TRAINING FACILITIES

Part 1. INSURANCE AGENCY

Article 83. Operational principles of insurance agencies

1. Organizations and individuals operating as an insurance agency must meet agency requirements defined in Article 86 of the Law on insurance business and must sign an insurance agency contract as per Article 87 of the Law on insurance business.

2. Agencies of an insurance enterprise or foreign branch shall not simultaneously act as an agency of another insurance enterprise or foreign branch without the former's written approval.

3. Individuals awarded an agent certificate but having not operating as an agent in 03 consecutive years must take agent certification exams prior to their operations as an agent. Having not operating as an agent means that the individual has not signed an agent contract with any insurance enterprises and foreign branches or been employed by an agency of any insurance enterprises and foreign branches.

4. Insurance agencies and agents shall not:

a) Provide incorrect information and advertisements of the content and scope of operations of an insurance enterprise or foreign branch, conditions and terms of insurance in violation of insurance buyers’ legitimate rights and interests;

b) Obstruct an insurance buyer to disclose information on an insurance contract or incite a buyer or an insured not to declare details of an insurance contract;

c) Compete for customers by obstructing, enticing, bribing or threatening employees or customers of other insurance enterprises, foreign branches, insurance agencies and insurance broker enterprises;

d) Incite customers, in any manner, to terminate their insurance contracts in effect.

Article 84. Rights and duties of insurance enterprises and foreign branches with regard to insurance agencies

1. Insurance enterprises and foreign branches have rights to:

a) Select insurance agencies and enter agency contracts;

b) Define the level of insurance commissions in insurance agency contracts as per the law;

c) Receive and manage deposits or mortgages of insurance agencies, if stated in the insurance agency contracts;

d) Request insurance agencies to deliver earned premiums according to insurance contracts;

dd) Inspect and supervise the implementation of insurance agency contracts;

e) Have other legitimate rights in relation to insurance business activities.

2. Insurance enterprises and foreign branches have duties to:

a) Provide training and award training certificates to agencies as per the law;

b) Provide guidelines, full and precise information and documents necessary for insurance agencies’ activities;

c) Take on liabilities ensuing from signed insurance agency contracts;

d) Pay commissions as defined in insurance agency contracts;

dd) Refund deposits or return mortgages to insurance agencies as per agreements;

e) Be held liable for damage or losses caused by insurance agencies of insurance enterprises and foreign branches according to insurance agency contracts;

g) Accede to the inspection and supervision by competent government authorities of activities of their insurance agencies;

h) Provide the Association of Vietnamese insurers with the list of their insurance agencies whose agency contracts are terminated due to their violation of laws and principles of practice.

Article 85. Rights and duties of insurance agencies

1. Insurance agencies shall have rights to:

a) Use their discretion to enter an insurance agency contract with an insurance enterprise or foreign branch as per the law;

b) Participate in training courses held by insurance enterprises and foreign branches for insurance agencies;

c) Receive the information necessary for their activities and other conditions to implement their insurance agency contracts;

d) Earn commissions and other legitimate rights and interests in relation to insurance business activities;

dd) Request the insurance enterprise or foreign branch to refund deposit(s) or mortgaged asset(s) according to the insurance agency contract.

2. Insurance agencies shall have duties to:

a) Deliver on commitments in the insurance agency contract with the insurance enterprise or foreign branch;

b) Deposit money or mortgage asset(s) to the insurance enterprise or foreign branch, if required according to the insurance agency contract;

c) Introduce, offer and sell insurance; provide full and accurate information to insurance buyers; implement the insurance contract within the scope of their authorization as defined in the insurance agency contract;

d) Participate in advanced training courses held by insurance agency training facilities;

dd) Accede to the inspection and supervision by competent government authorities and fulfill financial obligations as per the law.

Article 86. Agencies selling investment-linked insurance, retirement insurance and other insurance as per Decree No. 67/2014/ND-CP

1. Agencies and agents selling unit-linked insurance must meet these requirements:

a) Have not violated legal regulations on insurance agency’s activities and relevant rules of professional ethics.

b) Have received training from an insurance enterprise and a certificate of completion of course(s) in unit-linked insurance;

c) Attain one of these experience-related conditions:

- Have acted and operated as an insurance agency or agent continuously in at least 01 year;

- Act as an insurance agency or agent, have operated continuously in the field of finance, banking or insurance in at least 06 months and possess a professional certificate in securities as awarded by the State Securities Commission;

- Have acted and operated continuously as an insurance agency or agent in at least 06 months and possess at least a college degree in finance, banking or insurance.

2. Agencies and agents selling universal life insurance must meet these requirements:

a) Have not violated legal regulations on insurance agency’s activities and relevant rules of professional ethics.

b) Have received training from an insurance enterprise and a certificate of completion of course(s) in universal life insurance;

c) Have operated as an insurance agency or agent in at least 03 months or have operated at least 01 year in the field of finance, banking or insurance or have graduated from a college or higher level in finance, banking or insurance.

3. Agencies and agents selling retirement insurance must meet these requirements:

a) Possess a certificate of insurance agency as awarded by a training facility that the Ministry of Finance endorses;

b) Have not violated legal regulations on insurance agency’s activities and relevant rules of professional ethics.

c) Have received training from an insurance enterprise and a certificate of completion of course(s) in retirement insurance.

4. Agencies and agents selling other insurance as per the Decree No. 67/2014/ND-CP must meet these requirements:

a) Have operated as an insurance agency or agent in at least 03 months;

b) Have not violated legal regulations on insurance agency’s activities and relevant rules of professional ethics.

c) Have undergone at least 16 hours of insurance training by an insurance enterprise according to the Decree No. 67/2014/ND-CP and received a certificate of course completion.

Part 2. INSURANCE AGENCY TRAINING FACILITIES

Article 87. Insurance agency training facilities

1. Insurance agency training facilities must meet these requirements:

a) Provide training programs as defined in Article 88 of this Decree;

b) Trainers of insurance agencies and agents must have expertise in insurance, knowledge in law and skills in teaching;

c) Have adequate infrastructure for training activities.

2. Insurance agency training facilities must apply in writing to the Ministry of Finance’s approval of insurance agency training programs, as follows:

a) A filled-in form of application as prescribed by the Ministry of Finance;

b) Documents specifying that trainers of insurance agencies have the knowledge for training activities.

Ministry of Finance, in 14 days upon receiving the valid and adequate application, shall issue its approval in writing. Ministry of Finance, if rejecting an application, shall provide explanations in writing.

Article 88. Insurance agency training programs

1. General knowledge:

a) General knowledge of insurance;

b) Responsibilities and professional ethics of an agency;

c) Laws on insurance business;

d) Insurance sales skills;

dd) Rights and duties of an insurance enterprise, foreign branch and insurance agency with regard to the activities of the insurance agency.

2. Knowledge of products:

a) Fundamentals of insurance products that insurance enterprises and foreign branches are permitted to sell;

b) Practice of insurance agency.

Article 89. Management of training of insurance agencies

1. Ministry of Finance shall be responsible for inspecting and supervising the training of insurance agencies and agents. If an insurance agency training facility does not meet relevant requirements in this Decree, the Ministry of Finance shall suspend the facility's insurance agency training activities.

2. On annual basis, insurance agency training facilities must report to the Ministry of Finance about the quantity of courses held, of insurance agencies and agents trained and of certificates awarded in a year.