✔ According to point dd clause 2 Article 137 of Law on Insurance Business 2022: "2. Insurance brokerage enterprises have the following obligations:
dd, Buy professional liability insurance suitable for insurance brokerage activities;"

✔Individuals are not allowed to practice insurance brokerage. Only insurance brokerage businesses licensed by the Ministry of Finance can act as insurance brokers.
According to clause 21 Article 4 Law on Insurance Business 2022: “Insurance brokerage enterprises are those which are established, organized and operate under the provisions of this Law and relevant laws for insurance brokerage activities.”

✔ According to clause 4 Article 8 Circular No. 50/2017/TT-BTC: "Reinsurance brokerage commission shall be agreed by parties in accordance with international practice."

✔ According to point b, clause 2, Article 7, Circular No. 50/2017/TT-BTC:
"the authorization shall be made in accordance with the principles below: If the insurance broker is authorized to collect insurance premiums:

- The policyholder’s liability for insurance premiums shall be considered fulfilled if insurance premiums have paid in full to the insurance broker as specified in the insurance policy;

- Upon the policyholder’s payment of insurance premiums, the insurance broker shall transfer the said amount of insurance premium to the insurer/foreign branch within the term as agreed between the insurer/foreign branch and the insurance broker, which does not exceed 30 days from the date on which the amount of insurance premiums is received."

✔According to Article 54, Decree 46/2023:
"Insurers, reinsurers, insurance brokers and foreign branches in Vietnam must deduct 5% of their annual profit after tax to establish a cash reserve fund. The maximum level of the required cash reserve fund is 10% of the charter capital of the insurer/reinsurer, the allocated capital of the branch."

✔ According to clause 1 Article 125 of the Law on Insurance Business 2022:
"Individuals who conduct insurance agency activities must meet the following conditions:

a) Being Vietnamese citizens permanently residing in Vietnam;

b) Having full civil act capacity;

c) Having suitable insurance agency certificates as specified in Article 130 of this Law."

✔ According to clause 1 Article 131 Law on Insurance Business 2022: There are two types of insurance brokerage enterprises’ activities: Primary insurance brokerage and reinsurance brokerage.