Headlines 09/11/2019 15:30 CH

Requirements for provision of services auxiliary to insurance now in force

Quý Tân

On November 1, 2019, the Government promulgated the Decree No. 80/2019/ND-CP on amendments and supplements to the Government’s Decree No. 73/2016/ND-CP elaborating on implementation of the Law on Insurance Business and the Law on Amendments and Supplements to certain Articles of the Law on Insurance Business.

According to this Decree, services auxiliary to insurance constitute part of insurance business specified in the Law on Insurance Business and the 2019 amended Law on Intellectual Property. 

Persons directly involved in providing several services auxiliary to insurance must meet the following qualification requirements:

+ Insurance consultancy: They must hold undergraduate or other higher degrees in the insurance or other discipline, and must hold insurance consultant’s practicing certificates. 

+ Risk assessment: They must hold undergraduate or other higher degrees in the insurance or other discipline, and must hold risk appraiser’s practicing certificates. 

+ Providers of services auxiliary to claim settlement must hold associate or other higher degrees and hold certificates of practicing in advocate for insurance claim settlement.
 

Lawyer Bui Tuong Vu, Director of THƯ VIỆN PHÁP LUẬT Co., asserted:  “Strict regulations on qualification requirements of persons involved contribute to improving the quality of services auxiliary to insurance, and ensure that services auxiliary to insurance are provided to clients in an effective and safe manner”.


Please see more details about eligibility requirements of persons directly involved in providing actuarial, loss survey and assessment services, which are set out in the Decree No. 80/2019/ND-CP (entering into force from the signature date).

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