Extending the period of compulsory motorcycle insurance by social distancing time

Motor vehicle owners and insurance enterprises can agree to extend the motorcycle insurance period corresponding to the time of implementing social distancing as prescribed.

Extending the period of compulsory motorcycle insurance by social distancing time

Extending the compulsory motorcycle insurance period by social distancing (Illustration image)

This is a notable content in Circular 14/2022/TT-BTC amending Circular 04/2021/TT-BTC guiding Decree 03/2021/ND-CP on compulsory insurance for civil liability of owners. motor vehicle.

Specifically, in Clause 1, Article 2 of Circular 14/2022/TT-BTC stipulates as follows:

Motor vehicle owners and insurers can agree to extend the insurance period corresponding to the time the motor vehicle is not in traffic or inactive due to the application of COVID-19 prevention and control measures. in accordance with the law on insurance business, civil law and relevant regulations of law when the following conditions are satisfied:

Motor vehicle owners in localities apply social distancing as prescribed in Directive 15/CT-TTg , Directive 16/CT-TTg or areas under medical isolation, blockade of outbreaks to control According to the document of the competent authority or the locality, the COVID-19 epidemic level is determined to be very high risk, high risk according to the provisions of Resolution 128/NQ-CP in the period from January 1, 2021 until the Prime Minister announces the end of the COVID-19 epidemic.

In addition, Circular 14/2022/TT-BTC also adds regulations on the ratio of each expenditure item of the Motor Vehicle Insurance Fund, specifically:

During the period from March 1, 2021 until the Prime Minister declares the end of the COVID-19 epidemic, the Fund Management Council may propose the Vietnam Insurance Association to report to the Ministry of Finance for consideration and approval of the use of insurance companies. using the Fund balance of previous years for the expenditures specified in Clauses 4, 5, 6, 7 and 8 Article 5 of Circular 04/2021/TT-BTC ; The spending level of each of these items must not exceed the rate specified in Clauses 4, 5, 6, 7 and 8 Article 5 of Circular 04/2021/TT-BTC , corresponding to the maximum amount of 1% according to regulations. specified in Clause 1, Article 26 of Decree No. 03/2021/ND-CP .

Circular 14/2022/TT-BTC takes effect from February 28, 2022.

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