Provincial National Assembly delegation collects comments on draft Law on Insurance Business (amended)

Plum Blossom DNUM_BFZBAZCACB 12:01

(Baonghean.vn) - Participating in giving comments on the draft Law on Insurance Business, many delegates were interested in mentioning regulations to ensure transparency in insurance business of insurance companies.

Sáng 15/10, Đoàn đại biểu Quốc hội tỉnh tổ chức hội nghị lấy ý kiến góp ý dự thảo Luật Kinh doanh Bảo hiểm (sửa đổi). Đồng chí Thái Thị An Chung - Ủy viên Ban Chấp hành Đảng bộ tỉnh, Phó trưởng đoàn đại biểu Quốc hội tỉnh chủ trì hội nghị. Ảnh: Mai Hoa
On the morning of October 15, the provincial National Assembly delegation held a conference to collect comments on the draft Law on Insurance Business (amended). Comrade Thai Thi An Chung - Member of the Provincial Party Executive Committee, Deputy Head of the provincial National Assembly delegation chaired the conference. Photo: Mai Hoa

Draft Law on Businessdangerous(amended) includes 8 chapters and 156 articles regulating insurance business activities; rights and obligations of organizations and individuals participating in insurance; state management of insurance business activities.

This Law does not apply to social insurance, health insurance, deposit insurance and other types of insurance implemented by the State that are not of a business nature.

The draft law stipulates three types of insurance: life insurance; non-life insurance; health insurance.

Ông Nguyễn Thanh Bình - Phó Giám đốc Công ty Bảo Việt Nghệ An
Mr. Nguyen Thanh Binh - Deputy Director of Bao Viet Nghe An Company suggested considering regulations on storing evidence confirming that the insurance buyer has been fully explained by the insurance company when entering into the insurance contract. Photo: Mai Hoa

Based on the practice of state management and insurance business as well as studying the draft Law on Insurance Business (amended), the comments basically agreed with the draft and proposed to supplement and amend a number of provisions.

The issue raised by many delegates is related to insurance benefit disputes between insurance companies and insurance buyers; the main reason is that insurance companies have not fully explained insurance benefits and insurance buyers have not fully understood the liability exclusion clauses.

Đại diện Công an tỉnh đề xuất bổ sung quy định xử lý đối với hành vi gian lận bảo hiểm. Ảnh: Mai Hoa
Provincial Police representative proposed to add regulations on handling insurance fraud. Photo: Mai Hoa

From that reality, this draft stipulates the obligation of insurance companies to clearly explain the conditions for insurance exclusions and the obligation of insurance buyers to carefully read the rules, conditions, insurance terms, rights and obligations when entering into an insurance contract.

However, there are opinions that consider the provisions on the obligation of the insurance company to clearly explain and have evidence confirming that the insurance buyer has been fully explained by the insurance company and clearly understands the contents when concluding the insurance contract; because in practice, storing evidence is very difficult.

Đại biểu
Lawyer Trong Hai - Trong Hai Law Firm and associates gave their opinions at the conference. Photo: Mai Hoa

To improve the quality of insurance business, overcome the situation where many agents provide customers with incorrect insurance benefits and limit insurance buyers from canceling contracts mid-term; some opinions propose that the draft law needs to have regulations to regulate and increase transparency in insurance business activities of insurance companies; at the same time, it is necessary to regulate the cultural level of those participating in insurance agency, associated with regulations on training time for those participating in insurance agency.

Because insurance business is related to finance, health, long-term, and increasingly diverse products, this is a difficult field that needs stricter regulations.

Ông Nguyễn Văn Hùng - Quyền Giám đốc Công ty Maneulife Việt Nam đề xuất quy định về trình độ văn hóa đối với người tham gia đại lý bảo hiểm. Ảnh: Mai Hoa
Mr. Nguyen Van Hung - Acting Director of Manulife Vietnam Company proposed regulations on educational level for insurance agents. Photo: Mai Hoa

Some delegates also pointed out some shortcomings in practice, but the draft law has not mentioned any adjustments, such as the fact that some banks require that the loan conditions must have an insurance contract from that bank, while the principle of participating in insurance is voluntary; or some insurance companies refuse to sell fire and fishing boat insurance, while these are compulsory types of insurance.

Some opinions suggest that it is necessary to supplement regulations on sanctions and penalty frameworks for insurance fraud; supplement the State management role in the supervision activities of elected bodies, Inspection agencies, and Auditing activities.

Many comments were also made on the wording of the draft law to ensure consistency and accuracy; and to clarify some concepts of insurance business; insurance buyer; insurance event; insurance beneficiary; co-insurance; reinsurance; insurance loss assessment; insurance claim settlement support; insurance contract; liability insurance, etc.

Đại biểu
Comrade Thai Thi An Chung - Member of the Provincial Party Executive Committee, Deputy Head of the Provincial National Assembly Delegation, hopes that delegates will continue to study and contribute opinions to the draft law. Photo: Mai Hoa

Based on the opinions of the delegates,Provincial National Assembly Delegationwill study, synthesize and report to the National Assembly Standing Committee.

DelegationNational AssemblyThe province also said that the draft Law on Insurance Business (amended) will be submitted for comments at the 2nd session of the 15th National Assembly, scheduled to open this October, and will be considered for approval at the 3rd session, taking place in mid-2022.

Therefore, I hope that the delegates will continue to research to contribute ideas as a basis for the Provincial National Assembly Delegation to contribute ideas at the National Assembly session with quality and the Law when promulgated will be effective, effectively solving practical problems.

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Provincial National Assembly delegation collects comments on draft Law on Insurance Business (amended)
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