Decree 174/2024/ND-CP regulating sanctions for violations in the field of insurance business takes effect from February 15, 2025.
Point d, Clause 1, Article 19 stipulates a fine of 30 million to 50 million VND for the following violations:
Failure to establish and maintain a hotline to promptly receive information about accidents and losses, provide guidance and answers to insurance buyers, insured persons and related parties on issues related to compulsory insurance as prescribed by law, as prescribed in Clause 3, Article 75 of Decree 67/2023/ND-CP.
Compare Clause 3, Article 75 of Decree 67/2023/ND-CP as follows: Establish and maintain a 24/7 hotline to promptly receive information about accidents and losses, provide guidance and answers to insurance buyers, insured persons and related parties on issues related to compulsory insurance. Record calls to the hotline to ensure the rights of insurance buyers and insured persons.
According to a reporter's survey, currently some insurance companies (with motorbike insurance products) publicly announce hotlines as follows:
Bao Viet – Bao Viet Insurance Corporation – 1900558899
PVI – PVI Insurance Corporation – 1900545458
Bao Minh – Bao Minh Joint Stock Corporation – 1800588812
PJICO – Petrolimex Insurance Joint Stock Corporation – 1900545455
PTI – Post and Telecommunication Joint Stock Insurance Corporation – 1900545475
MIC Military Insurance Joint Stock Corporation MIC – 1900558891
VBI – Joint Stock Insurance Corporation of Vietnam Joint Stock Commercial Bank for Industry and Trade VBI – 19001566
BIC – BIDV Insurance Corporation – BIC – 19009456
BSH – Saigon Hanoi Insurance Joint Stock Corporation – 1900969609
Bao Long – Bao Long Insurance Joint Stock Corporation – 1900545517
Liberty – Liberty Insurance Company Limited – 1800599998
GIC – Global Insurance Corporation – 18006786
VASS – Far East Insurance Company – 19009249
XTI – Xuan Thanh Insurance Joint Stock Corporation – 19001898
BHV – Hung Vuong Insurance Joint Stock Company –1900633535
MSIG – MSIG Insurance Vietnam Company Limited – +84 888866276
Thus, insurance companies (including motorbike insurance products) must establish and maintain hotlines. If people cannot call the hotline, insurance companies may be fined according to regulations.
