Cases of revocation of Certificate of Insurance Agent in Vietnam 2023

Cases of revocation of Certificate of Insurance Agent in Vietnam 2023 (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. Types of Certificate of Insurance Agent in Vietnam 2023

According to Clause 1, Article 19 of Circular 69/2022/TT-BTC, this type of certificate is classified into the followings:

- 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. Cases of revocation of Certificate of Insurance Agent in Vietnam 2023

According to Clause 1, Article 27 of Circular 69/2022/TT-BTC, Department of Insurance Management and Supervision may carry out the certificate revocation or replacement process subject to the following regulations:

- A Certificate of Insurance Agent shall be revoked or withdrawn if

+ Despite the fact that a person does not participate or fails in the exam in the Certificate of Insurance Agent held at the venues specified in point b of clause 1 of Article 21 of Circular 69/2022/TT-BTC, an insurance company, branches of foreign non-life insurance company or mutual providing microinsurance has reported that he/she passes that exam;

+ Exam post-check results prove that a candidate does not satisfy the conditions for passing the exam in the Certificate of Insurance Agent as set forth in Circular 69/2022/TT-BTC;

+ A candidate provides falsified, fake or fraudulent personal identity papers (including Citizen ID/ID card/Passport) to be eligible to take the certification exam;

+ A candidate is impersonated to pass the certification exam;

+ An insurance company, branch of foreign non-life insurance company, mutual providing microinsurance or person has cheated at the conversion of the Certificate of Insurance Agent;

+ Such withdrawal or revocation is requested by competent state authorities in accordance with law.

- A Certificate of Insurance Agent may be reissued or replaced as prescribed in clause 2 of Article 18 of Circular 69/2022/TT-BTC.

- Within 03 working days after the training institution has established that the awarded certificate falls into the situations prescribed in clause 1 or 2 of Article 27 of Circular 69/2022/TT-BTC:

The Department of Insurance Management and Supervision shall carry out the process of revoking and reissuing the awarded certificate by removing information shown in the electronic certificate (in case of withdrawal or revocation), or rectifying information shown in the electronic certificate (in case of reissuance or replacement) on CEMS.

- Within 03 working days after withdrawing or revoking the Certificate of Insurance Agent, the Department of Insurance Management and Supervision shall make the list of certificates subject to the withdrawal or revocation requirement as prescribed in clause 1 of Article 27 of Circular 69/2022/TT-BTC available to the public on CEMS.

- Persons whose certificates are revoked or withdrawn as stipulated in point c, d, dd and e of clause 1 of Article 27 of Circular 69/2022/TT-BTC shall be disqualified from participating in exams in the Certificate of Insurance Agent in the next 12 months after revocation or withdrawal.

3. What are the uses of Certificates of Insurance Agent in Vietnam? 

Those Certificates of Insurance Agent defined in Section 1 may be used as follows:

- The Certificate of Basic Life Insurance Agent may be used for representing as an agent for life insurance products (except unit-linked insurance product) and health insurance products;

- The Certificate of Unit-linked Insurance Agent may be used for representing as an agent for unit-linked insurance products;

- The Certificate of Basic Non-Life Insurance Agent may be used for representing as an agent for non-life insurance products (except marine insurance products, aviation insurance products), products classified into health insurance lines, 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;

- The Certificate of Marine Insurance Agent may be used for representing as an agent for marine insurance products;

- The Certificate of Aviation Insurance Agent may be used for representing as an agent for aviation insurance products;

- The Certificate of Life Insurance Agent may be used for representing as an agent for health insurance products and casualty insurance products, each of which has the maximum insurance term of 01 year.

(Clause 3, Article 19 of Circular 69/2022/TT-BTC)

4. Venue of exam for Certificates of Insurance Agent in Vietnam

Specifically, in Clause 1, Article 21 of Circular 69/2022/TT-BTC, Certification exams shall take place at the following venues:

- At designated exam centres in provinces or cities informed by the Department of Insurance Management and Supervision;

- Exam venues other than those prescribed in point a of clause 1 of Article 21 of Circular 69/2022/TT-BTC not in provinces or cities.

In order to conduct exams in these venues, insurance companies, branches of foreign non-life insurance companies, or mutuals providing microinsurance shall be required to get them registered;

- Exam venues that are offices located in provincial-level administrative divisions of organizations providing insurance agent services; socio-political organizations entering into agreements on cooperation in insurance agent services with insurance companies, branches of foreign non-life insurance companies, or mutuals providing microinsurance.

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