Amendments to regulations on revocation and renewal of Insurance Agent Certificates in Vietnam from January 15, 2025

Amendments to regulations on revocation and renewal of Insurance Agent Certificates in Vietnam from January 15, 2025

The examination organizing unit shall carry out the revocation and reissuance of insurance agent certificates according to the following regulations:

- Certificates shall be revoked in the following cases:

+ Candidates forge, alter, or falsify documents related to personal identity (ID Card/Citizen ID/Passport) when attending the examination;

+ Individuals have someone else take the insurance agent certificate exam on their behalf;

+ Insurance enterprises, foreign non-life insurer's branches, mutual organizations providing microinsurance, and individuals who have committed fraud in the conversion of insurance agent certificates;

+ Certificates are revoked at the request of competent state authorities in accordance with the law.

- Certificates shall be reissued in cases stipulated in Clause 2, Article 18 of Circular 85/2024/TT-BTC.

- Within 03 working days from the date the examination organizing unit has evidence proving that an issued insurance agent certificate falls under one of the cases specified in Clause 1, Clause 2, Article 27 of Circular 85/2024/TT-BTC, the examination organizing unit shall carry out the revocation or reissuance of the issued insurance agent certificate by removing the information on the electronic certificate (in the case of revocation) or correcting the information on the electronic certificate (in the case of reissuance) on the Examination Certificate Management System.

- Within 03 working days from the date of certificate revocation, the examination organizing unit shall announce the list and information of the revoked certificates stipulated in Clause 1, Article 27 of Circular 85/2024/TT-BTC on the Examination Certificate Management System.

- Individuals whose certificates are revoked in the cases specified in Clause 1, Article 27 of Circular 85/2024/TT-BTC will not be allowed to take the insurance agent certificate exams for the next 12 months from the date of certificate revocation.

More details can be found in Circular 85/2024/TT-BTC, effective from January 15, 2025.

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