Types of Current Insurance Operations

00:03, 12/07/2024

Insurance activities are profit-oriented activities, whereby the insurer accepts the risk of the insured based on the policyholder paying insurance premiums so that the insurer pays an insurance amount to the beneficiary or compensates the insured when an insured event occurs.

The current law stipulates the following types of insurance operations:

1. Life insurance, including:

- Whole life insurance;- Endowment insurance;- Term insurance;- Mixed insurance;- Annuities;- Investment-linked insurance;- Pension insurance.

2. Non-life insurance, including:

- Property insurance and casualty insurance;- Cargo insurance for road, sea, domestic waterways, rail, and air transport;- Aviation insurance;- Motor vehicle insurance;- Fire and explosion insurance;- Hull insurance and civil liability of ship owners;- Liability insurance;- Credit and financial risk insurance;- Business interruption insurance;- Agricultural insurance.

3. Health insurance, including:

- Personal accident insurance;- Medical insurance;- Health care insurance.

More details can be found in Law on Amendments and Supplements to a Number of Articles of the Insurance Business Law 2010 effective from July 1, 2011.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

0 lượt xem

- This translation is generated by OpenAI's GPT-4o model;
- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email [email protected]