Responsibilities of Insurance Companies regarding conducting exams, revocation and replacement of certificate in insurance, insurance agent in Vietnam

What are responsibilities of Insurance Companies regarding conducting exams, revocation and replacement of certificate in insurance, insurance agent in Vietnam?

Pursuant to Article 31 of the Circular 69/2022/TT-BTC stipulating responsibilities of Insurance Companies regarding conducting exams, revocation and replacement of certificate in insurance, insurance agent in Vietnam as follows:

Responsibilities of Insurance Companies, Branches of Foreign Non-life Insurance Companies, and Mutuals Providing Microinsurance

1. Provide the courses defined in Article 20 herein to insurance agents.

2. Register plans to hold exams, update the list of candidates and pay fees for participation in exams in Certificate of Insurance Agent to the Department of Insurance Management and Supervision in accordance with clause 1, 3, 4, 5 and 6 of Article 22 herein.

3. Hold exams in Certificate of Insurance Agent (for the exams to be held at the venues specified in point b of clause 1 of Article 21 herein).

4. Send the Department of Insurance Management and Supervision the request package for conversion of Certificate of Insurance Agent issued before January 1, 2023 into the one specified in this Circular for the benefit of insurance agents of insurance companies, branches of foreign non-life insurance companies, and mutuals providing microinsurance in accordance with clause 1 and 2 of Article 29 herein.

5. Protect confidentiality and security of audio-visual data of the exams to be held at the venues specified in point b of clause 1 of Article 21 herein as provided by law.

As regulations above, responsibilities of Insurance Companies, Branches of Foreign Non-life Insurance Companies, and Mutuals Providing Microinsurance are:

- Provide the courses to insurance agents

- Register plans to hold exams, update the list of candidates and pay fees for participation in exams in Certificate of Insurance Agent to the Department of Insurance Management and Supervision

- Hold exams in Certificate of Insurance Agent (for the exams to be held at the venues specified in point b of clause 1 of Article 21 herein)

- Send the Department of Insurance Management and Supervision the request package for conversion of Certificate of Insurance Agent issued before January 1, 2023

- Protect confidentiality and security of audio-visual data of the exams to be held at the venues specified in point b of clause 1 of Article 21 herein as provided by law. 

What are responsibilities of Department of Insurance Management and Supervision regarding conducting exams, revocation and replacement of certificate in insurance, insurance agent in Vietnam?

Pursuant to Article 30 of the Circular 69/2022/TT-BTC stipulating responsibilities of Department of Insurance Management and Supervision regarding conducting exams, revocation and replacement of certificate in insurance, insurance agent in Vietnam as follows:

Responsibilities of the Department of Insurance Management and Supervision

1. Issue the Regulations on certification exams.

2. Develop the question bank used for certification exams aligned with courses specific to certification types defined herein.

3. Announce the exam time, date and venue prior to October 31 each year (for the exams in Certificate of Insurance Agent to be held at the venues specified in point a of clause 1 of Article 21 herein), or prior to December 31 each year (for the exams in Certificate in Insurance, Certificate of Insurance Agent, Certificate in Insurance Auxiliary Services).

4. Announce the monthly plan to hold the exams in Certificate of Insurance Agent at the venues specified in point a and b of clause 1 of Article 21 herein, or the quarterly plan to conduct the exams at the venues specified in point c of clause 1 of Article 21 herein to insurance companies, branches of foreign non-life insurance companies, and mutuals providing microinsurance.

5. Design exam papers or question sheets; conduct exams; approve and announce results of the exams in Certificate in Insurance, Certificate of Insurance Agent, Certificate of Insurance Broker or Certificate in Insurance Auxiliary Services.

6. Carry out the post-exam checking of results of the paper-based exams; examine and manage the exams in Certificate of Insurance Agent to be held at the revenues specified in point b of clause 1 of Article 21 herein.

7. Carry out the review of the results of the paper-based exams in Certificate in Insurance, Certificate of Insurance Agent, Certificate of Insurance Broker or Certificate in Insurance Auxiliary Services.

8. Award, revoke, withdraw, reissue or replace Certificate in Insurance; convert Certificate of Insurance Agent issued prior to January 1, 2023 into the Certificate specified herein.

9. Announce the list of individual holders subject to revocation of Certificate in Insurance, the Certificate of Insurance Agent, the Certificate of Insurance Broker and the Certificate in Insurance Auxiliary Services.

Above are responsibilities of Department of Insurance Management and Supervision regarding conducting exams, revocation and replacement of certificate in insurance, insurance agent in Vietnam.

What are responsibilities of Domestic Insurance Training Institutions regarding conducting exams, revocation and replacement of certificate in insurance, insurance agent in Vietnam?

Pursuant to Article 32 of the Circular 69/2022/TT-BTC stipulating responsibilities of Domestic Insurance Training Institutions regarding conducting exams, revocation and replacement of certificate in insurance, insurance agent in Vietnam as follows:

Responsibilities of Domestic Insurance Training Institutions

1. Provide the courses on Certificate in Insurance, Certificate of Insurance Broker, Certificate in Insurance Auxiliary Services as referred to in Article 9, 10 and 11 herein.

2. Register the list of candidate with the Department of Insurance Management and Supervision, and pay exam fees on behalf of candidates applying for exams at their offices.

3. Issue, reissue, withdraw or revoke the Certificate in Insurance, Certificate of Insurance Broker, Certificate in Insurance Auxiliary Services.

4. Notify the list of individual holders of Certificate in Insurance, Certificate of Insurance Broker or Certificate in Insurance Auxiliary Services that they have issued, reissued, withdrawn or revoked to the Department of Insurance Management and Supervision; publish the list of individual holders of Certificate in Insurance, Certificate of Insurance Broker or Certificate in Insurance Auxiliary Services subject to revocation or withdrawal requirements on their websites.

5. Deposit documents and records on issuance, revocation or reissuance of Certificate in Insurance, Certificate of Insurance Broker, and Certificate in Insurance Auxiliary Services within the range of their responsibilities as defined under law on archiving.

Above are responsibilities of Domestic Insurance Training Institutions regarding conducting exams, revocation and replacement of certificate in insurance, insurance agent in Vietnam.

Best regards!