Decree 174/2024/ND-CP regulating sanctions for violations in the field of insurance business takes effect from February 15, 2025.
Point g Clause 1 Article 19 Decree 174/2024/ND-CP stipulates a fine from VND 30,000,000 to VND 50,000,000 for one of the following violations:
The insurance certificate does not contain full contents as prescribed by law, as prescribed in Clause 2, Article 10, Clause 1, Article 27 of Decree No. 67/2023/ND-CP.
Compare the provisions in Clause 2, Article 10 of Decree 67/2023/ND-CP as follows:
The certificate of motor vehicle civil liability insurance (including compulsory motorbike insurance) is actively designed by the insurance company and must include the following contents:
Name, address, telephone number of motor vehicle owner.
License plate number and chassis number, engine number.
Vehicle type, load capacity, number of seats, purpose of use for cars.
Name, address, hotline number of the insurance company.
Limit of liability insurance for third parties.
Responsibilities of motor vehicle owners and drivers in case of accidents.
Insurance period, insurance premium, insurance premium payment period.
Date, month, year of issuance of Insurance Certificate.
Codes and barcodes are registered, managed and used in accordance with the provisions of law to store, transmit and retrieve information identifying insurance companies and identifying compulsory civil liability insurance products of motor vehicle owners.
