The Decision allows the Vietnam Insurance Corporation to implement voluntary motor vehicle physical damage insurance from January 1, 1992, based on the proposal of the General Director and following a two-year pilot program.
Scope of application
Vietnam Insurance Corporation
Key points
- Vietnam Insurance Corporation → is allowed to implement voluntary motor vehicle physical damage insurance from January 1, 1992.
🌐 Social impact of this document
- Positive impact: Helps citizens and businesses have additional insurance options, enhancing safety for motor vehicle assets.
- Negative impact: There is no significant impact on citizens/businesses/society.
❓ Frequently asked questions
When was motor vehicle physical damage insurance implemented?
Motor vehicle physical damage insurance was implemented from January 1, 1992, according to this Decision.
How can the Vietnam Insurance Corporation implement insurance?
The Vietnam Insurance Corporation is allowed to implement voluntary motor vehicle physical damage insurance.
What is this Decision based on?
This Decision is based on the proposal of the General Director of the Vietnam Insurance Corporation and following a two-year pilot program for motor vehicle physical damage insurance.
What responsibilities do related units have?
The General Director of the Vietnam Insurance Corporation, the Head of the Ministry of Finance's Office, the Directors of Provincial and Municipal Finance Departments, and the heads of related units are responsible for implementing this Decision.
When does this Decision take effect?
This Decision takes effect from January 1, 1992.
Full text
Pursuant to …;
Regarding the permission to implement motor vehicle physical damage insurance
THE MINISTER OF FINANCE
WHEREAS, Decree No. 155/HĐBT dated October 15, 1988 of the Council of Ministers stipulates the functions, tasks, and organizational structure of the Ministry of Finance;
Pursuant to Decision No. 45/QĐTC dated March 2, 1989, issued by the Minister of Finance on the charter and operation of the Vietnam General Insurance Corporation;
After two years of piloting motor vehicle physical damage insurance;
At the proposal of the General Director of the Vietnam Insurance Corporation,
DECISION:
Article 1. The Vietnam General Insurance Corporation is permitted to implement motor vehicle physical damage insurance on a voluntary basis.
Article 2. This Decision takes effect from January 1, 1992.
Article 3. The General Directors of the Vietnam General Insurance Corporation, the Director of the Ministry of Finance's Office, the Directors of the Provincial and Municipal Finance Departments under the Central Government, and the heads of related units are responsible for implementing this Decision./.
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