Decision No. 1313/QD-BTC on the functions, tasks, powers, and organizational structure of the Insurance Supervision and Management Department

DECISION

Regulations on functions, tasks, powers, and organizational structure of the Insurance Management and Supervision Department

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THE MINISTER OF FINANCE

Pursuant to Decree No. 36/2012/NĐ-CP dated April 18, 2012, of the Government stipulating the functions, tasks, powers, and organizational structure of Ministries and ministerial-level agencies;

Pursuant to Decree No. 215/2013/NĐ-CP dated December 23, 2013, promulgated by the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Considering the proposal of the Director of the Insurance Management and Supervision Department and the Head of the Cadre and Civil Servant Organization Department,

DECISION:

Article 1. Position and Functions

The Insurance Management and Supervision Department is an entity under the Ministry of Finance, with the function of advising and assisting the Minister of Finance to implement state management over the insurance business nationwide; directly managing and supervising insurance business activities and related service activities according to the provisions of the law.

The Insurance Management and Supervision Department has legal personality, its own seal, and is entitled to open accounts at the State Treasury and banks in accordance with the provisions of the law.

Article 2. Tasks and Powers

1. Propose to the Minister of Finance for issuance within the scope of authority or propose to the Minister of Finance to submit to the competent authority for issuance of legal normative documents and policies on insurance business operations; strategies, plans, long-term, medium-term, and annual plans on insurance business operations.

2. Organize implementation, propaganda on insurance; disseminate and guide, inspect the implementation of strategies, plans, and legal normative documents on insurance business operations.

3. Receive and examine files to propose to the Minister of Finance for issuing, extending, and revoking licenses for the establishment and operation of insurance companies, insurance brokerage companies (including cases of foreign investment, foreign-invested enterprises in Vietnam); branches of non-life insurance companies from abroad; representative offices of insurance companies and insurance brokerage companies from abroad in Vietnam. Propose to the Minister of Finance for approval of changes made by these organizations in accordance with the provisions of the law.

4. Inspect and supervise the activities of insurance companies, branches of non-life insurance companies from abroad, and insurance brokerage companies operating in Vietnam; activities of representative offices of foreign insurance companies and foreign insurance brokerage companies in Vietnam.

5. Conduct specialized inspections in the field of insurance against organizations and individuals participating in insurance business activities in accordance with the provisions of the law.

6. Resolve complaints and denunciations and handle administrative violations in the field of insurance business operations in accordance with the provisions of the law.

7. Implement international cooperation in the field of insurance business operations in accordance with the provisions of the law.

8. Implement state management over the activities of associations and non-governmental organizations operating in the field of insurance business.

9. Actively assist relevant ministries and sectors in directing the supervision of compulsory civil liability insurance for motor vehicles (National Agency implementing the compulsory motor vehicle insurance program).

10. Build a database on insurance; organize statistical work, analysis, forecasting, interim summary, final summary, and evaluation of the situation of the insurance market; implement the statistical reporting system on the insurance market in accordance with the provisions of the law.

11. Organize scientific research or cooperate in scientific research with units inside and outside the sector.

12. Organize training and capacity building for organizations and individuals participating in insurance business activities.

13. Perform other tasks and powers assigned by the Minister of Finance.

Article 3. Organizational Structure

1. Staff supporting the Director of the Insurance Management and Supervision Department:

a) Office of the Department;

b) Market Development Division;

c) Non-Life Insurance Management and Supervision Division;

d) Life Insurance Management and Supervision Division;

đ) Insurance Brokerage Management and Supervision Division;

e) Inspection and Audit Division;

g) Statistics and Market Information Division.

2. Public Service Units: Insurance Research and Training Center.

The regulations on organization and operation of the Insurance Research and Training Center shall be stipulated by the Minister of Finance.

Specific tasks of the Office and Divisions shall be stipulated by the Director of the Insurance Management and Supervision Department.

The Insurance Management and Supervision Department operates with a division-based organizational structure combined with a specialist system. For tasks performed under the specialist system, the Director assigns duties to civil servants and employees in accordance with their positions, standards, and professional capabilities to ensure the completion of assigned tasks.

The Insurance Management and Supervision Department is allocated chief accountants at budgetary units in accordance with current legal provisions and those of the Ministry of Finance.

The staffing of the Insurance Management and Supervision Department shall be decided by the Minister of Finance.

Article 4. Leadership of the Department

The Insurance Management and Supervision Department has a Director and several Deputy Directors.

The Director of the Insurance Management and Supervision Department is responsible to the Minister of Finance for all activities of the Department; manages civil servants and assets assigned according to the provisions of the law.

The Deputy Director of the Insurance Management and Supervision Department is responsible to the Director for the tasks assigned.

Article 5. Effectiveness and Responsibility for Implementation

This Decision takes effect from the date of signature and replaces Decision No. 288/2009/QD-BTC dated February 12, 2009 of the Minister of Finance on the functions, tasks, powers, and organizational structure of the Insurance Management and Supervision Department and Decision No. 1853/QD-BTC dated July 31, 2009 of the Minister of Finance supplementing tasks, powers, and adjusting the organizational structure of the Insurance Management and Supervision Department.

The Director of the Insurance Management and Supervision Department, the Head of the Cadre and Civil Servant Organization Department, the Director of the Ministry of Finance's Office, and the Heads of units and organizations under the Ministry are responsible for implementing this decision./.