What are regulations on domestic and foreign insurance training institutions in Vietnam? What are content of Courses on Certificate in Insurance in Vietnam?

What are regulations on domestic insurance training institutions in Vietnam?

Pursuant to Article 7 of the Circular 69/2022/TT-BTC stipulating domestic insurance training institutions in Vietnam as follows:

Domestic Insurance Training Institutions

Domestic insurance training institution(s) referred to herein shall be the entity(ies) having competence in providing insurance training courses, including:

1. Training institutions established by state agencies, such as Institutes, academies or higher education institutions;

2. Training institutions directly or indirectly under entities instituted by state agencies;

3. Other training institutions having legal personality that are set up and operated legally in Vietnam.

As regulations above, domestic insurance training institution(s) referred to herein shall be the entity(ies) having competence in providing insurance training courses, including:

- Training institutions established by state agencies, such as Institutes, academies or higher education institutions;

- Training institutions directly or indirectly under entities instituted by state agencies;

- Other training institutions having legal personality that are set up and operated legally in Vietnam.

What are regulations on foreign insurance training institutions in Vietnam?

Pursuant to Article 8 of the Circular 69/2022/TT-BTC stipulating foreign insurance training institutions in Vietnam as follows:

Foreign Insurance Training Institutions

Foreign insurance training institution(s) referred to herein may be the entity(ies) having competence in providing insurance training courses, including:

1. Training institutions put under the direct or indirect control of an insurance management and supervision agency; or training institutions authorized to provide insurance training courses and award certificates in insurance by an insurance management and supervision agency;

2. ASEAN Insurance Training and Research Institute (AITRI); Societies of Actuaries that are official members of the International Society of Actuaries;

3. Training organizations of countries entering into agreements on mutual recognition of certificates in insurance with Vietnam;

4. Training institutions under foreign insurance groups and foreign reinsurance groups;

5. Other international training organizations, including: Australian and New Zealand Institute of Insurance and Finance (ANZIIF); Chartered Insurance Institute (CII); Insurance Institute of Canada (IIC); Institute of Risk Management (IRM); Risk Management Institute of Australia (RMIA); Chartered Institute of Loss Adjusters (CILA); Australian Institute of Chartered Loss Adjusters (AICLA); Lloyd's Maritime Institute; Life Office Management Association (LOMA); Life Insurance Marketing and Research Association (LIMRA).

As regulations above, Foreign Insurance Training Institutions may be the entity(ies) having competence in providing insurance training courses, including:

- Training institutions put under the direct or indirect control of an insurance management and supervision agency; or training institutions authorized to provide insurance training courses and award certificates in insurance by an insurance management and supervision agency;

- ASEAN Insurance Training and Research Institute (AITRI); Societies of Actuaries that are official members of the International Society of Actuaries;

- Training organizations of countries entering into agreements on mutual recognition of certificates in insurance with Vietnam;

- Training institutions under foreign insurance groups and foreign reinsurance groups;

- Other international training organizations, including: Australian and New Zealand Institute of Insurance and Finance (ANZIIF); Chartered Insurance Institute (CII); Insurance Institute of Canada (IIC); Institute of Risk Management (IRM); Risk Management Institute of Australia (RMIA); Chartered Institute of Loss Adjusters (CILA); Australian Institute of Chartered Loss Adjusters (AICLA); Lloyd's Maritime Institute; Life Office Management Association (LOMA); Life Insurance Marketing and Research Association (LIMRA).

What are content of Courses on Certificate in Insurance in Vietnam?

Pursuant to Article 9 of the Circular 69/2022/TT-BTC stipulating content of Courses on Certificate in Insurance in Vietnam as follows:

Content of Courses on Certificate in Insurance

A course on the Certificate in Insurance provided by a domestic insurance training institution should contain the following:

1. For the courses on the Certificate in Life Insurance:

a) General knowledge about insurance and reinsurance;

b) Basic knowledge about lines or sublines of life and health insurance;

c) Vietnam’s domestic law on life and health insurance business.

2. For the courses on the Certificate in Non-life Insurance:

a) General knowledge about insurance and reinsurance;

b) Basic knowledge about lines or sublines of non-life and health insurance;

c) Vietnam’s domestic law on non-life and health insurance business.

3. For the courses on Certificate in Life Insurance:

a) General knowledge about insurance and reinsurance;

b) Basic knowledge about lines or sublines of health insurance;

c) Vietnam’s domestic law on health insurance business.

As regulations above, different courses on Certificate in Insurance requires different conditions from domestic insurance training institutions.

Best regards!