Persons requiring insurance is purchased by insurance companies

13/12/2007
Question 2. Persons requiring insurance is insurance purchased by insurance companies not operating in Vietnam or not? DNBH must be qualified to perform what commitments with customers?

Answer:
- Organizations and individuals with insurance needs are involved in insurance business insurance activities in Vietnam.

- Business insurance must ensure the requirements of finance to implement their commitments for the purchase of insurance. (Article 6 Law BH KD) Guidelines insurance participation is in Decree 45CP 27 months 3, 2007 guiding the implementation of the Law KD insurance (Article 3 of Decree 45 CP) as follows

"1. Organizations and individuals want to business insurance, business insurance, active insurance brokers in Vietnam is the Ministry of Finance license the establishment and operation as stipulated by Law Business insurance .

2. Organizations and individuals with insurance needs with a choice of insurance companies and are only involved in insurance business insurance are allowed to work in Vietnam. No organization or individual is allowed to interfere with illegal choice to business insurance, business insurance brokers buyer's premium "

This is to protect the interests of customers to buy insurance because the insurance companies operating in Vietnam is state management closely, being governed by the laws of Vietnam. If disputes occur, the buyer of insurance may give Vietnam court hearing.