TẠP CHÍ ĐIỆN TỬ
Stricter control over bancassurance needed
Many complaints and petitions lodged relating to insurance sold at banks.
The Ministry of Finance (MoF) plans to submit to the government for consideration a supplementation of regulations to enhance the management and supervision over the insurance market, in particular the selling of insurance products via banks, or bancassurance.
The ministry is completing a draft decree promulgating the implementation of certain articles of the Law on Insurance Business to improve the quality of insurance agents and supplementing specific regulations on the distribution of insurance policies via the bancassurance channel.
It will increase inspections over bancassurance in the second and third quarters.
As of April 25, the MoF had received 192 complaints and petitions relating to bancassurance.
In the first four months of the year, total insurance premium turnover was estimated at more than VND75.3 trillion ($3.17 billion), up 1.12 per cent compared to the same period last year.
