08 Content of Courses on Certificate of Insurance Agent in Vietnam

08 Content of Courses on Certificate of Insurance Agent in Vietnam (Internet image)

Regarding this issue, LawNet responded as follows:

1. Types of Certificate of Insurance Agent in Vietnam

According to Clause 1, Article 19 of Circular 69/2022/TT-BYT, the types of Certificate of Insurance Agent include:

- Certificate of Basic Life Insurance Agent;

- Certificate of Unit-linked Life Insurance Agent;

- Certificate of Basic Non-Life Insurance Agent;

- Certificate of Marine Insurance Agent;

- Certificate of Aviation Insurance Agent;

- Certificate of Health Insurance Agent.

2. Content of Courses on Certificate of Insurance Agent in Vietnam

Specifically, in Article 20 of Circular 69/2022/TT-BYT, each course on the Certificate of Insurance Agent shall cover the following:

(1) General knowledge about insurance; principles of professional insurance practising specific to types of Certificate of Insurance Agent:

(i) For Certificate of Basic Life Insurance Agent: General knowledge about insurance, fundamentals, basic concepts and professional knowledge about lines or sublines of life insurance (except unit-linked insurance), health insurance;

(ii) For Certificate of Unit-linked Life Insurance Agent: General knowledge about financial market; basic knowledge about investment; general knowledge about insurance, principles, basic professional knowledge about lines or sublines of unit-linked insurance;

(iii) For Certificate of Basic Non-Life Insurance Agent: General knowledge about insurance, fundamentals, basic concepts and professional knowledge about lines or sublines of non-life insurance (except marine insurance, aviation insurance), products classified into lines of health insurance, each of which has the maximum insurance term of 01 year; and casualty insurance products, each of which has the maximum insurance term of 01 year;

(iv) For Certificate of Marine Insurance Agent: General knowledge about insurance, fundamentals, basic concepts and professional knowledge about lines or sublines of marine insurance;

(v) For Certificate of Aviation Insurance Agent: General knowledge about insurance, fundamentals, basic concepts and professional knowledge about lines or sublines of aviation insurance;

(vi) For Certificate of Health Insurance Agent: General knowledge about insurance, fundamentals, basic concepts and professional knowledge about lines or sublines of health insurance.

(2) Professional ethics or standards of conduct of insurance agents shall be published by socio-professional organizations.

(3) Rights and obligations of insurance companies, branches of foreign non-life insurance companies, mutuals providing microinsurance and insurance agents to be exercised and undertaken when carrying out insurance agent activities.

(4) Domestic or national law of Vietnam on insurance business that relevantly governs types of insurance, lines or sublines of insurance coverage with respect to specific courses on Certificates of Insurance Agent.

(5) Professional skills and practicing as insurance agents.

(6) Content of courses on the Certificate of Unit-linked Insurance Agent to be taught to trainees who have held the Certificate of Basic Life Insurance Agent, including those specified in (ii) of (1) and (4).

(7) Content of courses on the Certificate of Marine Insurance Agent to be taught to trainees who have held the Certificate of Basic Non-Life Insurance Agent, including those specified in (iv) of (1) and (4) .

(8) Content of courses on the Certificate of Marine Insurance Agent to be taught to trainees who have held the Certificate of Basic Non-Life Insurance Agent, including those specified in (v) of (1) and (4) .

3. What is an insurance agent?

According to Article 124 of the Law on Insurance Business 2022, an Insurance agent is an entity or person authorized under an insurance agent agreement to render insurance agent services by an insurance company, branch of a non-life insurance company or mutual providing microinsurance products.

Thanh Rin

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