Legal Counselling

Competing for customers by means of obstructing, inducing, buying off or intimidating employees or customers is strictly prohibited in Vietnam

Tuyết Hoan

10:30, 30/12/2001

In Vietnam, insurance enterprises, insurance agents and insurance brokerage enterprises may engage in cooperation and lawful competition in insurance business.

According to Article 10 of the Law on insurance business 2000 of Vietnam, acts strictly prohibited in cooperation and competition in insurance business include:ư

One, providing untruthful information or advertisement on insurance contents, operation scope and terms, which cause harms to the legitimate rights and interests of the insurance buyers;

Two, competing for customers by means of obstructing, inducing, buying off or intimidating employees or customers of other insurance enterprises, agents or brokerage enterprises;

Three, making illegal sale promotions;

Four, conducting other illegal competitions.

View more: The Law on insurance business 2000 of Vietnam takes effect from April 01, 2001.

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