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Pursuant to the Law on\r\nGovernment Organization dated June 19, 2015;
Pursuant to the Law on\r\nState Budget dated June 25, 2015;
Pursuant to the Law on\r\nInsurance Business dated December 09, 2000 and the Law on amendments to some\r\narticles of the Law on Insurance Business dated November 24, 2010;
Pursuant to the\r\nResolution No. 32/2016/QH14 dated November 23, 2016 of the National Assembly on\r\nfurther raising effect and the effectiveness of implementation of the national\r\ntarget program on building a new countryside associated with agricultural\r\nrestructuring;
At the request of the\r\nMinister of Finance;
The Government hereby\r\npromulgates a Decree on agricultural insurance.
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Article 1. Scope
This Decree provides for\r\nagricultural insurance and agricultural insurance assistance policy aimed at\r\nencouraging insurance enterprises to sell agricultural insurance and enable\r\nproducers of agricultural, forest and aquatic products to take remedial actions\r\nand indemnify for financial losses caused by risks during the production\r\nprocess.
Article 2. Regulated\r\nentities
This Decree applies to:
1. Organizations and\r\nindividuals that produce agricultural, forest and aquatic products (hereinafter\r\nreferred to as “agricultural producers”).
2. Non-life insurance\r\nenterprises, branches of foreign non-life insurance enterprises hereinafter\r\nreferred to as “insurer”), reinsurers that are established, organized and\r\noperate in accordance with regulations of the Law on Insurance Business and\r\nrelevant regulations of law.
3. Organizations and\r\nindividuals related to sale and purchase of agricultural insurance and implementation\r\nof agricultural insurance assistance policy.
Article 3. Definitions
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1. “agricultural\r\ninsurance policyholder” means an organization/individual signing an agricultural\r\ninsurance policy with an insurer and paying insurance premiums. The\r\nagricultural insurance policyholder may also be the insured.
2. “the insured” mans an\r\norganization/individual whose agricultural, forest and aquatic products are\r\ninsured under the agricultural insurance policy.
3. “agricultural\r\ninsurance” means a type of insurance which insures agricultural producers,\r\nwhereby the policyholder pays premiums and insurer indemnifies the insured in\r\nthe case of an insured event.
4. “agricultural co-insurance”\r\nmeans two or multiple insurers signing an agricultural insurance policy with\r\nthe policyholder in order to insure an insured agricultural product according\r\nto the same policy wording and premiums.
5. “agricultural\r\nreinsurance” means an insurer or reinsurer receiving an amount of agricultural\r\ninsurance premiums of another insurer to commit to indemnify admitted\r\nliabilities to provide insurance.
Article 4. Types of\r\nagricultural insurance
1. Insurance against\r\nidentified risks, whereby, upon occurrence of an insured event, the insurer\r\nindemnifies for the actual loss caused by the risks specified in the\r\nagricultural insurance policy.
2. All-risk insurance,\r\nwhereby, upon occurrence of an insured event, the insurer indemnifies for the\r\nactual loss caused by all risks, except for the insurance exclusions specified\r\nin the agricultural insurance policy.
3. Business income\r\ninsurance, whereby, upon occurrence of an insured event, the insurer\r\nindemnifies for agricultural production costs to compensate the loss caused by\r\nthe insured risks specified in the agricultural insurance policy.
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5. Weather index-based\r\ninsurance, whereby, upon occurrence of an insured event, the insurer provides\r\nindemnity according to changes in weather index (rain, wind, droughts, floods,\r\ncold, hail, frost, earthquake, tsunami, etc.) under the agricultural insurance\r\npolicy without regard to the actual loss of the subject matter insured.
6. Remote sensing index\r\n-based insurance, whereby, upon occurrence of an insured event, the insurer\r\nprovides indemnity according to changes in remote sensing index under the\r\nagricultural insurance policy without regard to the actual loss of the subject\r\nmatter insured.
7. Other types of\r\nagricultural insurance under the agricultural insurance policy.
Article 5. Rules for\r\nsigning agricultural insurance policy and implementation of agricultural\r\ninsurance assistance policy
1. An agricultural\r\ninsurance policy is signed according to the voluntary agreement rule without\r\nrestricting the number of insurance participants, subject matters insured and\r\ninsured risks, and coverage.
2. The agricultural\r\ninsurance assistance policy shall be implemented within the budget in each\r\nperiod by providing assistance in agricultural insurance premiums for some\r\nagricultural producers, subject matters insured, insured risks and within a\r\ncertain area in order to implement social security policy and agricultural\r\nproduction development program of the Government.
Chapter II
Section 1. SPECIFIC\r\nREGULATIONS ON AGRICULTURAL INSURANCE
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1. In addition to the\r\ncontents specified in the Law on Insurance Business, the policyholder and the\r\ninsurer shall agree upon and specify the following contents in the agricultural\r\ninsurance policy:
a) Name and address of\r\nthe individual and affiliated entity of the insurer that is responsible for\r\naddressing the issues concerning execution of the agricultural insurance policy.
b) Methods for\r\ndetermining the sum insured.
c) Cases in which\r\ndeductible and deduction of the indemnity (if any) are applied.
d) Loss survey; loss\r\nsurveyor; loss survey costs.
dd) Determination of\r\ninsured event, grounds for providing indemnity; cases in which indemnity is\r\nprovided according to the notice or confirmation of disasters or diseases given\r\nby a competent authority; cases in which index-based insurance is\r\nprovided/purchased, specific agreement on the indexes directly related to loss\r\nof the subject matter insured; the authority that determines the difference\r\nbetween the actual index and the index insured; methods for determining the\r\nindemnity.
e) Methods for providing\r\nindemnity; indemnity claim (specifying agreement on responsibility of the policyholder\r\nor the insured documents for providing necessary documents for the insurer);\r\ntime limit for providing indemnity.
g) Responsibilities of\r\nparties for risk management and loss prevention and minimization, and\r\nprevention and fight against insurance fraud in accordance with regulations of\r\nthis Decree.
h) Responsibilities of\r\nthe insurer and the insured for complying with all technical procedures and\r\nstandards in agricultural production (if any).
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Article 7.\r\nAgricultural co-insurance
1. The insurer may sell\r\nagricultural insurance according to co-insurance method in order to allocate\r\nand share risks, ensure financial safety and maintain a healthy competitive\r\nenvironment.
2. Cases in which\r\nagricultural co-insurance policy is executed:
a) The agricultural\r\ninsurance policy shall specify name and co-insurance ratio of each co-insurer;\r\nname of the insurer in charge of executing the insurance policy. Insurers shall\r\ntake joint responsibility for the commitments specified in the agricultural\r\ninsurance policy with the policyholder.
b) The insurer in charge\r\nshall complete procedures for signing the insurance policy, and coping with\r\ntasks related to execution of the agricultural insurance policy on behalf of\r\nthe co-insurers.
Article 8.\r\nAgricultural reinsurance
1. In the case of\r\ndomestic reinsurance, the reinsurer shall:
a) satisfy requirements\r\nfor capital and solvency margin and comply with regulations on reinsurance\r\nprescribed in the Law on Insurance Business and its guiding documents.
b) run an agricultural\r\nreinsurance plan in a safe and effective manner and comply with regulations and\r\nlaw.
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Article 9.\r\nAgricultural reinsurance indemnity
1. Upon occurrence of an\r\ninsured event, the insurer shall provide indemnity under the agricultural insurance\r\npolicy and regulations of law.
2. The indemnity paid by\r\nthe insurer to the insured shall be determined according to the market value of\r\nthe subject matter insured at the time and place where the loss is incurred and\r\nthe degree of actual loss, unless otherwise provided in the insurance policy.\r\nIn the case of index-based insurance, the insurer shall provide indemnity to\r\nthe insured according to the change in the actual index compared to the index\r\nspecified in the insurance policy and regulations of law.
3. The indemnity paid by\r\nthe insurer to the insured must not exceed the sum insured, unless otherwise\r\nprovided in the insurance policy.
Article 10. Dispute\r\nsettlement
1. Any dispute that\r\narises during execution of the agricultural insurance policy shall be initially\r\nsettled under the insurance policy, regulations of the Law on Insurance\r\nBusiness and relevant regulations of law.
2. In case of failure to\r\nsettle the dispute by negotiation, relevant parties may bring the case to a\r\nVietnamese competent Court.
Article 11. Policy\r\nwording and premiums
1. The insurer shall, on\r\nits own initiative, establish policy wording and premiums in accordance with\r\nregulations of the Law on Insurance Business and relevant regulations of law\r\nand notify the Ministry of Finance in writing before establishment.
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Article 12.\r\nResponsibilities of the insurer for signing and executing an agricultural\r\ninsurance policy
1. Provide explanation\r\nand sufficient information about insurance policy, policy wording and premiums\r\nfor the policyholder. Sign the agricultural insurance policy only if the\r\npolicyholder has confirmed its/his/her clear understanding of information\r\nconcerning the agricultural insurance policy, policy wording and premiums.
2. Sign the agricultural\r\ninsurance policy by following the principles of voluntariness, free will and\r\nequality; ensure adherence to the law of large numbers and allocate and share\r\nrisks through co-insurance and reinsurance.
3. On its own initiative,\r\ncontrol risks, prevent and minimize losses, and prevent and fight insurance\r\nfraud as prescribed in Section 2 Chapter II of this Decree.
4. Upon occurrence of an\r\ninsured event, promptly assign officials to reach the subject matter insured\r\nand instruct the insured to take measures to minimize losses (if any). Pay\r\nnecessary and appropriate costs to minimize losses.
5. Organize loss surveys\r\nto determine causes and degree of the loss in a public and transparent manner\r\nunder the agricultural insurance policy and regulations of law. In the case of\r\nindex-based insurance, obtain and publish the competent authority’s\r\nconfirmation of the insured event (if specified in the insurance policy);\r\ndetermine the difference between the actual index and the index specified in\r\nthe insurance policy.
6. In the case of\r\ndetermination of loss subject to the indemnity, assign officials to instruct\r\nthe insured to provide the documents necessary for indemnity.
7. Provide sufficient\r\nindemnity to the insured under the agricultural insurance policy and\r\nregulations of law.
8. Bear other\r\nresponsibilities specified in the agricultural insurance policy and regulations\r\nof law.
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1. Protect the insurable\r\ninterest of the subject matter insured as prescribed by law.
2. Sufficiently and\r\ntruthfully provide information concerning the subject matter insured (including\r\nthe case in which the subject matter insured suffers loss) for the insurer.
3. Sign the agricultural\r\ninsurance policy after having a clear understanding of information about the\r\nagricultural insurance policy, policy wording and premiums that is explained\r\nand provided by the insurer.
4. On its/his/her own\r\ninitiative, control risks, prevent and minimize losses, and prevent and fight\r\ninsurance fraud as prescribed in Section 2 Chapter II of this Decree.
5. Enable the insurer to\r\ninspect fulfillment of requirements for assurance of safety of the subject\r\nmatter insured.
6. Promptly notify the\r\ninsurer of the insured event; take measures for loss minimization under the\r\nguidance of the insurer.
7. Closely cooperate with\r\nthe insurer in surveying losses to determine causes and degree of the loss and\r\nprovide indemnity.
8. Bear other responsibilities\r\nspecified in the agricultural insurance policy and regulations of law.
Section 2. RISK\r\nCONTROL, LOSS PREVENTION AND MINIMIZATION AND PREVENTION AND FIGHT AGAINST\r\nINSURANCE FRAUD
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The insurer,\r\npolicyholder, the insured and competent authorities shall control risks,\r\nprevent and minimize losses, and prevent and fight insurance fraud upon\r\nsale/purchase of agricultural insurance and implementation of agricultural\r\ninsurance assistance policy in accordance with Articles 15, 16 and 17 of this\r\nDecree.
Article 15. Risk\r\ncontrol
1. Control of risks\r\nduring the policy period means a process of identifying, assessing, monitoring\r\nand managing inherent risks that may potentially exert negative effect on sale\r\nof agricultural insurance and implementation of the agricultural insurance\r\nassistance policy.
2. The insurer shall:
a) Formulate and take\r\nrisk control measures and establish and follow risk control procedures\r\nspecifying specific responsibilities of each individual and division for\r\ncompletion of the risk control procedures.
b) Annually review and\r\nre-inspect risk control measures and risk control procedures to ensure their\r\neffectiveness and validity.
3. The policyholder and\r\nthe insured shall, on their own initiative, take risk control measures and\r\nfollow risk control procedures with respect to the subject matter insured\r\nduring agricultural production, including complying with regulations on\r\nprevention and fight against animal diseases, plant quarantine and protection\r\nand environmental protection, technical standards in agricultural production\r\nissued by the competent authority and other relevant regulations of law on\r\norder to ensure safety of the subject matter insured.
4. Relevant authorities\r\nshall control, supervise and instruct agricultural producers to control risks\r\nduring agricultural production; disseminate information concerning control of\r\nrisks during agricultural production.
Article 16. Loss\r\nprevention and minimization
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2. Loss prevention and\r\nminimization serves as a responsibility of the policyholder and the insured.\r\nThe policy holder and the insured shall, on their own initiative, prevent and\r\nrespond to disasters and provide disaster relief, and prevent, fight and take\r\nremedial actions against diseases as prescribed by law, immediately notify the\r\ninsurer of the insured event, and take measures for prevention and minimization\r\nof losses (if any) under the guidance of the insurer.
3. The insurer shall\r\nprevent and minimize losses during the policy period according to following\r\nregulations:
a) Measures for loss\r\nprevention and minimization include:
- Provide training and\r\ncarry out dissemination activities; assist local governments in providing training\r\nin and disseminating agricultural insurance assistance policy;
- Provide and assist with\r\nequipment and facility to prevent and minimize losses;
- Assist in building\r\nworks aimed at preventing and mitigating losses incurred on the subject matters\r\ninsured;
- Hire other\r\norganizations and individuals to carry out supervision, prevent and minimize\r\nlosses.
b) The insurer shall use\r\nup to 10% of revenue from agricultural insurance premiums to take loss\r\nprevention and minimization measures prescribed in Point a of this Clause.
4. Relevant authorities\r\nshall provide guidelines for measures for preventing and minimizing losses\r\nduring agricultural production, including carrying out supervision to early\r\ndetect and notify animal diseases, issue forecast and warning about animal\r\ndiseases; provide guidelines for measures for preventing and fighting animal\r\ndiseases; fight diseases and take measures for protecting production upon\r\noccurrence of plant pests; direct implementation of remedial measures to\r\nquickly control and eradicate diseases and pests; respond to disasters and\r\nprovide disaster relief; disseminate information concerning prevention and\r\nminimization of losses during agricultural production.
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1. Prevention and fight\r\nagainst agricultural insurance fraud mean the adoption of measures for\r\npreventing and reducing the fraud during signing and execution of the\r\nagricultural insurance policy with the aim of appropriating a sum of money from\r\nthe insurer.
2. The insurer shall, on\r\nits own initiative, formulate and take measures for preventing, detecting and\r\nreducing insurance fraud, and disseminate information about prevention and\r\nfight against insurance fraud.
3. The policyholder and\r\nthe insured shall, on their own initiative, participate in prevention and fight\r\nagainst insurance fraud. In case any act of insurance fraud is found, it is\r\nrequired to promptly notify the insurer and competent authority.
4. Relevant competent\r\nauthorities shall cooperate with the insurer, the policyholder and the insured\r\nin preventing and fighting insurance fraud within their area in a manner that\r\nmaintains social order during execution of the agricultural insurance policy\r\nand implementation of the agricultural insurance assistance policy.
Chapter III
Article 18. Insured\r\nsubject matters eligible for assistance
1. Plants: Rice, rubber\r\ntrees, peppers, cashew trees, coffee trees, fruit trees, vegetables.
2. Domesticated animals:\r\nBuffaloes, cows, pigs, poultry.
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Article 19. Assistance
1. An individual that\r\nproduces agricultural products and is a member of a poor household or near\r\npoverty household is eligible for an assistance of not greater than 90% of\r\nagricultural insurance premiums.
2. An individual that\r\nproduces agricultural products and is not a member of a poor household or near\r\npoverty household is eligible for an assistance of not greater than 20% of\r\nagricultural insurance premiums.
3. An organization that\r\nproduces agricultural products by using large-scale and concentrated\r\ncooperation model that applies advanced technologies and production process\r\ntowards green, hi-tech and environmentally friendly agriculture is eligible for\r\nan assistance of not greater than 20% of agricultural insurance premiums.
Article 20. Insured\r\nrisks eligible for assistance
1. Disaster risks,\r\nincluding:
Storm, tropical\r\ndepressions, lightning, cyclones, heavy rain, floods, flash floods,\r\ninundations, landslides and land subsidence due to floods or water currents,\r\nwater level rise, seawater intrusion, extremely hot weather, droughts, damaging\r\ncold, hail, hoarfrost, earthquakes, tsunamis. Disasters shall be announced or\r\nconfirmed by a competent authority.
2. Disease risks,\r\nincluding:
a) Animal diseases:
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- Aquatic animal\r\ndiseases: Aquatic animal diseases included in the List of animal diseases\r\nsubject to outbreak declaration of Vietnam promulgated by a competent authority\r\nin accordance with regulations of the law on veterinary medicine.
b) Plant pests: Harmful\r\norganisms that may potentially spread on a large scale and cause severe damage\r\nto plants in accordance with regulations of the law on plant protection and\r\nquarantine.
Diseases and pests shall\r\nbe announced or confirmed by a competent authority.
Article 21. Areas\r\neligible for assistance
1. A province or\r\ncentral-affiliated city that is within the major area where agricultural\r\nproducts are produced according to agriculture restructuring orientations and\r\nagriculture development plan shall be provided with assistance in agricultural\r\ninsurance premiums. The Prime Minister shall decide on the list of provinces\r\nand central-affiliated cities provided with assistance in agricultural\r\ninsurance premiums as prescribed in Clause 1 Article 22 of this Decree.
2. Each province or\r\ncentral-affiliated city may implement the agricultural insurance assistance\r\npolicy within its total area or some district and commune. According to the\r\nPrime Minister’s decision on eligible entities, types of plants and\r\ndomesticated animals, aquaculture, types of insured risks eligible for assistance,\r\nthe People's Committee of the province or central-affiliated city within the\r\narea eligible for assistance shall select and announce the areas eligible for\r\nassistance in agricultural insurance premiums through the local mass media and\r\nnotify them in writing to the Ministry of Finance and the Ministry of\r\nAgriculture and Rural Development.
Article 22.\r\nImplementation of agricultural insurance assistance policy in each period
1. According to Articles\r\n18, 19 and 20 and Clause 1 Article 21 of this Decree and capacity of budget in\r\neach period, the Prime Minister shall issue a decision on agricultural\r\nproducers, types of plants and domesticated animals, aquaculture and types of\r\ninsured risks eligible for assistance, assistance, time for providing\r\nassistance, areas eligible for assistance, funding allocated by the central\r\ngovernment budget to the local government budget for provision of assistance in\r\nagricultural insurance premiums.
2. Agricultural producers\r\nwill receive assistance in agricultural insurance premiums if they are the ones\r\neligible for assistance in agricultural insurance premiums who have subject\r\nmatters insured and provide insurance for the insured risks according to the\r\nPrime Minister’s decision prescribed in Clause 1 of this Article and who are\r\nwithin the areas eligible for assistance included in announcement by People's\r\nCommittees of provinces and central-affiliated cities prescribed in Clause 2\r\nArticle 21 of this Decree.
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1. Funding for providing\r\nassistance is covered by the central and local government budget and included\r\nin the annual state budget estimate.
2. The funding allocated\r\nby the central government budget to the local government budget to provide\r\nassistance in agricultural insurance premiums shall adhere to the rules for\r\nprovision of dedicated funding allocated from the central government budget to\r\nthe local government budget to implement social security policies.
Article 24.\r\nApplications and procedures for approving entities eligible for assistance
1. An application for\r\napproval for entities eligible for assistance includes:
a) An application form\r\n(Form No. 01 in the Appendix hereof).
b) A list of plants,\r\ndomesticated animals and aquatic animals (Form No. 02 in the Appendix hereof).
c) Documentary evidences\r\nfor eligibility for assistance in agricultural insurance premiums regarding the\r\nentity eligible for assistance that is an organization that produces\r\nagricultural products.
2. Procedures for\r\napproving entities eligible for assistance
a) According to the Prime\r\nMinister’s decision and announcement of areas eligible for assistance of the\r\nPeople’s Committee of the province prescribed in Clause 2 Article 21 of this\r\nDecree, the agricultural producer shall prepare and submit an application for approval\r\nprescribed in Clause 1 of this Article, directly or by post, to the People’s\r\nCommittee of the commune where such agricultural producer produces agricultural\r\nproducts.
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c) Within 15 days from\r\nthe date on which the list sent by the People’s Committee of the commune is\r\nreceived, according to the Prime Minister’s decision, announcement of areas\r\neligible for assistance of the People’s Committee of the province prescribed in\r\nClause 2 Article 21 of this Decree, the application for approval sent by the\r\nPeople’s Committee of the commune and the list sent by the People’s Committee\r\nof the commune, the People’s Committee of the district shall approve,\r\nconsolidate and send the list of agricultural producers eligible for assistance\r\nthe Department of Agriculture and Rural Development.
d) Within 05 working days\r\nfrom the date on which the list of agricultural producers eligible for\r\nassistance sent by the People’s Committee of the district is received,\r\naccording to the Prime Minister’s decision and the list of agricultural producers\r\neligible for assistance sent by the People’s Committee of the district, the\r\nDepartment of Agriculture and Rural Development shall consolidate and submit\r\nthe list to the People’s Committee of the province for issuance of the decision\r\non approval for the list of agricultural producers eligible for assistance in\r\nagricultural insurance premiums (Form No. 03 in the Appendix hereof). Such\r\ndecision shall be sent to the Department of Finance, Department of Agriculture\r\nand Rural Development and People’s Committee of the relevant district and\r\ncommune.
dd) Within 05 working\r\ndays from the date on which the People’s Committee of the province issues the\r\ndecision, the People’s Committee of the commune shall openly post the list of\r\nagricultural producers eligible for assistance in agricultural insurance\r\npremiums at the People’s Committee, announce it through its local mass media\r\nand send a copy of the decision to the agricultural producer at their request.
3. On a quarterly basis,\r\nthe People’s Committee of the province shall direct the Department of\r\nAgriculture and Rural Development and relevant People’s Committees at all\r\nlevels to approve the list of agricultural producers eligible for assistance at\r\nthe request of the agricultural producers according to the procedures specified\r\nin Clause 2 of this Article, and shall review and adjust the approved list of\r\nagricultural producers eligible for assistance in the cases specified in Clause\r\n4 of this Article.
4. The agricultural\r\nproducer included in the decision on approval for the list of agricultural\r\nproducers eligible for assistance shall carry out review. In the cases where\r\nsuch agricultural producer is no longer eligible for assistance or according to\r\nthe results of annual investigation and review carried out by the competent\r\nauthority, a poor or near poverty household is re-classified, resulting in a\r\nchange in the assistance in agricultural insurance premiums, within 05 working\r\ndays from the date on which the agricultural producer is no longer eligible for\r\nassistance or from the effective date of the decision on recognition of a poor\r\nor near poverty household, the agricultural producer shall send a written\r\nnotice made using the Form No. 04 in the Appendix hereof to the People’s\r\nCommittee of the commune.
Within 10 days from the\r\nend of the month, the People’s Committee of the commune shall consolidate and\r\nsend the approved list of agricultural producers eligible for assistance to the\r\nPeople’s Committee of the district, which will consolidate and send it to the\r\nDepartment of Agriculture and Rural Development for review and adjustment to\r\nthe list according to Clause 3 of this Article and approve the application for\r\nprovision of assistance in agricultural insurance premiums as prescribed in\r\nPoint b Clause 2 Article 26 of this Decree.
Article 25. Methods\r\nfor provision of assistance in agricultural insurance premiums
The assistance in\r\ninsurance premiums shall be provided through the insurer according the\r\nprocedures specified in Article 26 of this Decree after the insurance policy is\r\nsigned and the insured liability has arisen.
Article 26.\r\nApplications and procedures for provision of assistance in agricultural\r\ninsurance premiums covered by the state budget
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a) An application form\r\n(Form No. 05 in the Appendix hereof).
b) A list (enclosed with\r\na copy) of the agricultural insurance policy signed with the agricultural\r\nproducer (Form No. 06 in the Appendix hereof).
2. Procedures for\r\nprovision of assistance in agricultural insurance premiums covered by the state\r\nbudget
a) Within 10 days from\r\nthe end of the month, the insurer shall prepare an application for provision of\r\nassistance in agricultural insurance premiums covered by the state budget\r\nprescribed in Clause 1 of this Article, directly or by post, to the Department\r\nof Agriculture and Rural of the province or central-affiliated city.
b) Within 10 days from\r\nthe date on which the satisfactory application is received, according to the\r\nPrime Minister’s decision and decision on approval for the list of agricultural\r\nproducers eligible for assistance of the People’s Committee of the province\r\nprescribed in Article 24 of this Decree, the Department of Agriculture and\r\nRural Development shall take charge and cooperate with the Department of\r\nFinance in completing the approval and requesting the People’s Committee of the\r\nprovince to issue the decision on provision of assistance in agricultural\r\ninsurance premiums covered by the central and local government budget. In the\r\ncase of rejection, the Department of Agriculture and Rural Development shall\r\nprovide written explanation for the insurer.
c) Within 10 days from\r\nthe date on which the People's Committee of the province issues the decision on\r\nprovision of assistance, the Department of Finance shall, according to the\r\ndecision on provision of assistance, make payment to the insurer through the\r\nState Treasury of the province, which will transfer cash to the insurer's\r\naccount opened at a commercial bank.
d) In case the payment is\r\nyet to be made to the insurer as prescribed in Point c Clause 2 of this\r\nArticle, the People's Committee of the province shall direct the Department of\r\nAgriculture and Rural Development to provide written explanation for the\r\ninsurer.
Article 27. Stop\r\nreceiving assistance in agricultural insurance premiums
1. In the cases where\r\nchanges in the policy results in changes in eligibility requirements for assistance\r\nin agricultural insurance premiums, entities eligible for assistance and\r\nassistance in agricultural insurance premiums, the agricultural producers shall\r\ncontinue to receive assistance in agricultural insurance premiums under the\r\nsigned agricultural insurance policy until the expiry of the policy.
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3. In the cases where the\r\nagricultural insurance policy expires before the specified period, the\r\nagricultural producer shall return the agricultural insurance premiums covered\r\nby the state budget to the state budget corresponding to the remaining period\r\nof the insurance policy according to Clause 4 of this Article.
4. The agricultural\r\ninsurance policy shall stop receiving assistance in agricultural insurance\r\npremiums and return the agricultural insurance premiums covered by the state\r\nbudget to the state budget corresponding to the remaining period of the\r\ninsurance policy from the date on which:
a) the agricultural\r\nproducer no longer satisfies all eligibility requirements for receipt of\r\nassistance in agricultural insurance premiums prescribed in Clause 2 Article 22\r\nof this Article (except for the case specified in Clause 1 of this Article).
b) the agricultural\r\ninsurance policy is terminated before the specified period.
The agricultural producer\r\nshall return the agricultural insurance premiums covered by the state budget\r\nthrough the insurer according to the procedures specified in Clause 5 of this\r\nArticle.
5. In the event the\r\nagricultural producer no longer satisfies all eligibility requirements for\r\nreceipt of assistance in agricultural insurance premiums according to Point a\r\nClause 4 of this Article, the agricultural producer and the insurer shall\r\ncomply with the following regulations:
a) Within 05 working days\r\nfrom the date on which the agricultural producer is no longer eligible for\r\nassistance in agricultural insurance premiums, the agricultural producer shall\r\nnotify the People’s Committee of the commune to follow the procedures specified\r\nin Clause 4 Article 24 of this Decree and the insurer to return the insurance\r\npremiums covered by the state budget. The notification shall specify the date\r\non which the agricultural producer is no longer eligible for assistance in\r\nagricultural insurance premiums.
b) The insurer shall take\r\nremedial actions against legal consequences concerning the insurance premiums\r\ncovered by the state budget according to Clause 6 of this Article.
6. Procedures for\r\nreturning the agricultural insurance premiums covered by the state budget
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b) Within 10 days from\r\nthe date on which the consolidated notice sent by the insurer is received, the\r\nDepartment of Agriculture and Rural shall take charge and cooperate with the\r\nDepartment of Finance and the insurer in approving:
- The premiums returned\r\nto the state budget by the agricultural producer corresponding to the remaining\r\nperiod of the insurance policy after deducting reasonable costs related to the\r\ninsurance policy (in the cases where the state budget has sufficiently\r\nallocated assistance in agricultural insurance premiums to the agricultural\r\nproducer). Reasonable costs are specified in the insurance policy.
- The premiums returned\r\nby the state budget to the agricultural producer corresponding to the period\r\nover which insurance has covered by the time of terminating the insurance\r\npolicy (in the cases where the state budget has not yet sufficiently allocated\r\nassistance in agricultural insurance premiums to the agricultural producer).
Regarding the case\r\nspecified in Point a Clause 4 of this Article, the remaining period of the insurance\r\npolicy begins from the date on which the agricultural producer no longer\r\nsatisfies all eligibility requirements for receipt of assistance in\r\nagricultural insurance premiums.
Regarding the case\r\nspecified in Point b Clause 4 of this Article, the remaining period of the\r\ninsurance policy begins from the date of terminating the insurance policy\r\nbefore the specified period.
The approval results\r\nshall be made in writing and retained at the Department of Agriculture and\r\nRural Development.
c) According to the\r\napproval results, within 10 days, the Department of Agriculture and Rural\r\nDevelopment shall prepare and submit a report to the People’s Committee of the\r\nprovince, which will consider issuing a decision on return of agricultural\r\ninsurance premiums covered by the state budget to the insurer or request the\r\ninsurer to return the agricultural insurance premiums covered by the state\r\nbudget to the state budget as prescribed in Point b of this Clause.
Such decision shall be\r\nsent to relevant authorities: Department of Agriculture and Rural Development,\r\nDepartment of Finance, State Treasury of the province of the area where the\r\nentities eligible for assistance are available and relevant insurers.
d) According to the\r\ndecision of the People’s Committee of the province, within 10 days from the\r\ndate on which the People's Committee of the province issues the decision, the\r\nDepartment of Finance shall make payment to the insurer through the State\r\nTreasury of the province, which will transfer cash to the insurer's account opened\r\nat a commercial bank or the insurer shall follow procedures for return directly\r\nat the State Treasury.
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Together with making\r\nannual budget estimate, according to the number of agricultural producers\r\neligible for assistance specified in the Prime Minister’s decision and demand\r\nfor participation in agricultural insurance, the Department of Agriculture and\r\nRural Development shall estimate the funding for provision of assistance in\r\nagricultural insurance premiums and submit the estimate to the Department of\r\nFinance, which will clearly determine the local government budget that needs to\r\nbe balanced and the central government budget used for provision of assistance\r\nas prescribed and submit a report enclosed with the local government budget\r\nexpenditure estimate prescribed by the Law on State Budget to the Ministry of\r\nFinance, which will include it in the annual state budget estimate as\r\nprescribed.
Article 29. Estimate\r\nallocation and funding management and settlement
1. Estimate allocation
a) Annually, according to\r\nthe estimate given by the Prime Minister, the Ministry of Finance shall provide\r\ndedicated additional funding from the central government budget to the local\r\ngovernment budget to implement the agricultural insurance assistance policy as\r\nprescribed in this Decree.
b) According to the\r\nestimate given by the Prime Minister and the…………………., the Department of Finance\r\nshall take charge and cooperate with the Department of Agriculture and Rural\r\nDevelopment in preparing and submitting a funding estimate allocation plan to\r\nthe People’s Committee of the province, which will submit it to the People's\r\nCouncil at the same level for decision on allocation of funding for\r\nimplementation of the agricultural insurance assistance policy that is included\r\nin the approved expenditure estimate.
2. Funding management and\r\nsettlement
a) The People’s Committee\r\nof the province shall manage, use and settle funding for right purposes and in\r\naccordance with the Law on State Budget. At the end of the year, the remaining\r\nassistance in agricultural insurance premiums (if any) shall be managed as\r\nprescribed by the Law on State Budget. In case of lack of funding during the\r\nyear, local governments shall, on their own initiative, advance funding to make\r\npayment to the insurer and request the Ministry of Finance and the Ministry of\r\nAgriculture and Rural Development in writing to consider providing additional\r\nfunding from the central government budget (regarding the areas provided with\r\nfunding from the central government budget). After the end of the agricultural\r\ninsurance assistance policy, the remaining funding provided by the central\r\ngovernment budget (if any) shall be returned to the central government budget.
b) Funding for providing\r\nassistance in agricultural insurance premiums shall be aggregated with the\r\nannual state budget expenditure estimate as prescribed by the Law on State\r\nBudget, legal documents elaborating laws and applicable list of state budget\r\nentries.
Article 30. Conditions\r\nto be satisfied by the insurer in charge of implementing agricultural insurance\r\nassistance policy
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1. The insurer shall be\r\nentitled to sell agricultural insurance according to the establishment and\r\noperation license, satisfy requirements for capital and solvency as prescribed,\r\nhave procedures for agricultural insurance business, survey and indemnity,\r\ninternal control and internal audit procedures prescribed by law, and have an\r\nagricultural reinsurance program that shall be executed in a safe and effective\r\nmanner and in accordance with regulations of law.
2. The major insurer or\r\ninsurer delegated to be in charge of executing the insurance policy shall have\r\nits headquarters or branch located in the province or central-affiliated city\r\nwhere the agricultural insurance assistance policy is implemented.
Article 31. Methods\r\nfor implementing agricultural insurance assistance policy
The insurer shall\r\nimplement the agricultural insurance assistance policy using co-insurance\r\nmethod with respect to all insurance policies.
Article 32. Insurance\r\npolicy executed upon implementation of agricultural insurance assistance policy
When signing an\r\nagricultural insurance policy, the agricultural producer eligible for\r\nassistance and the insurer shall comply with the following regulations:
1. The agricultural\r\ninsurance policy contains all contents prescribed in Clause 1 Article 6 of this\r\nDecree.
2. The agricultural\r\npolicy shall be signed when the agricultural producer has satisfied all\r\neligibility requirements for receipt of assistance in agricultural insurance\r\npremiums prescribed in Clause 2 Article 22 of this Article and the People’s\r\nCommittee of the province has approved of the agricultural producer being\r\neligible for assistance in agricultural insurance premiums as prescribed in\r\nArticle 24 of this Decree.
3. The agricultural\r\ninsurance policy shall be signed separately from others.
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5. Time limit and method\r\nfor paying premiums shall be agreed upon in accordance with regulations of law.\r\nPayment of the premiums covered by the state budget shall be made as prescribed\r\nin Article 26 of this Decree.
6. The effective period\r\nof the agricultural insurance policy shall be agreed upon but not exceed 01\r\nyear.
Article 33. Applications\r\nand procedures for approving/changing agricultural insurance products are
1. The agricultural\r\ninsurance products provided by the insured for the agricultural producer\r\neligible for assistance in agricultural insurance premiums shall be approved by\r\nthe Ministry of Finance.
2. The insurer shall\r\nsubmit an application for approval, directly or by post, to the Ministry of\r\nFinance. The application includes:
a) An application form\r\n(Form No. 07 in the Appendix hereof);
b) Policy wording and\r\npremiums of the insurance product expected to be provided;
c) Formula, methods and\r\nexplanation for technical specifications for determination of premiums and\r\nreserves of the insurance product expected to be provided with the reserving\r\nactuary's endorsement showing that the premiums are established according to\r\nstatistics, guarantee solvency of the insurer and corresponds to insurance\r\nconditions and responsibilities;
d) Insurance request\r\nform, insurance policy, brochures, sales materials and other forms that must be\r\nprovided and signed by the policyholder upon purchase of insurance.
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a) Within 10 days from\r\ndate on which the satisfactory application prescribed in Clause 2 of this\r\nArticle is received, the Ministry of Finance shall send an enquiry about the\r\ninsurer's request for approval for the agricultural insurance product to the\r\nMinistry of Agriculture and Rural Development.
b) Within 10 days from\r\ndate on which the enquiry is received, the Ministry of Agriculture and Rural\r\nDevelopment shall provide written opinions about the insurer's request for\r\napproval for the agricultural insurance product.
c) Within 10 days from\r\ndate on which the written opinions are received, the Ministry of Finance shall,\r\naccording to the application for approval, consider granting a written\r\napproval. In case of rejection of the application, the Ministry of Finance\r\nshall provide written explanation.
4. The insurer shall\r\nadhere to the approved policy wording and premiums. In case of any change, it is\r\nrequired to obtain approval from the Ministry of Finance.
Article 34. Keep\r\nrecords of revenues and costs
The insurer shall keep\r\nseparate records of revenues of revenues from, costs and results of sale of\r\nagricultural insurance, and revenues from, cost and results of implementation\r\nof the agricultural insurance assistance policy.
Chapter IV
Article 35.\r\nResponsibilities of the Ministry of Finance
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2. Take charge and\r\ncooperate with the Ministry of Agriculture and Rural Development in\r\nestablishing Prime Minister's decision prescribed in Clause 1 Article 22 of\r\nthis Decree.
3. Take charge and\r\ncooperate with the Ministry of Agriculture and Rural Development in approving/changing\r\nagricultural insurance products as prescribed in Article 33 of this Decree.
4. Provide budget for\r\nimplementation of the agricultural insurance assistance policy.
5. Take charge and\r\ncooperate with the Ministry of Agriculture and Rural Development in submitting\r\nreports on implementation of this Decree at the request of the Government and\r\nPrime Minister.
Article 36.\r\nResponsibilities of the Ministry of Agriculture and Rural Development
1. Disseminate\r\nregulations on agricultural insurance in accordance with this Decree.
2. Cooperate with the\r\nMinistry of Finance in establishing Prime Minister's decision prescribed in\r\nClause 1 Article 22 of this Decree.
3. Cooperate with the\r\nMinistry of Finance in approving/changing agricultural insurance products as\r\nprescribed in Article 33 of this Decree.
4. Promulgate documents\r\nproviding guidelines for procedures for announcement of disasters and\r\nprocedures for confirmation of disasters and diseases prescribed in Article 20\r\nof this Decree.
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6. Promulgate technical\r\nprocedures, regulations and standards in agricultural production to facilitate\r\nexecution of the agricultural insurance policy and implementation of the\r\nagricultural insurance assistance policy.
Article 37.\r\nResponsibilities of the People’s Committees of provinces and central-affiliated\r\ncities
1. Disseminate\r\nregulations on and encourage agricultural producers to purchase agricultural\r\ninsurance in accordance with this Decree.
2. Organize execution of\r\nagricultural insurance policy and implementation of the agricultural insurance\r\nassistance policy in accordance with this Decree. Direct Departments, sectors\r\nand local governments within their area to execute agricultural insurance\r\npolicy and implement the agricultural insurance assistance policy in accordance\r\nwith this Decree.
3. Approve the entities\r\neligible for assistance as prescribed in Article 24 of this Decree.
4. According to the\r\nbudget estimate approved by the competent authority, allocate the local\r\ngovernment budget for provision of assistance in agricultural insurance\r\npremiums and provide assistance in agricultural insurance premiums in\r\naccordance with this Decree.
5. Direct relevant\r\nauthorities in organizing risk control, loss prevention and minimization and\r\nprevention and fight against insurance fraud as prescribed in Section 2 Chapter\r\nII of this Decree.
6. Comply with the\r\nfollowing reporting regulations:
a) Prepare and submit\r\nquarterly and annual detailed reports on funding for provision of assistance in\r\nagricultural insurance premiums using the Form No. 08 in the Appendix hereof to\r\nthe Ministry of Finance; submit reports on provision of plant, domesticated\r\nanimal and aquaculture insurance using the Form No. 09 in the Appendix hereof\r\nto the Ministry of Agriculture and Rural Development.
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- Quarterly reports shall\r\nbe submitted at least 30 days before the end of the quarter.
- Annual report shall be\r\nsubmitted at least 60 days before the end of the fiscal year.
Article 38.\r\nResponsibilities of Vietnam Farmers' Union
1. Cooperate with local\r\ngovernments in providing agricultural insurance as prescribed in this Decree.
2. Instruct and encourage\r\nits members to comply with regulations of law on agricultural insurance and\r\nrelevant regulations of law on cultivation, husbandry, forestry and\r\naquaculture.
3. Disseminate\r\nregulations on agricultural insurance in accordance with this Decree.
Article 39.\r\nResponsibilities of insurers
1. Organize sale of\r\nagricultural insurance and implementation of the agricultural insurance\r\nassistance policy in accordance with this Decree.
2. Insurers in charge of\r\nimplementing the agricultural insurance assistance policy shall:
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b) Reporting period
- Monthly reports shall\r\nbe submitted at least 15 days before the end of the month.
- Quarterly reports shall\r\nbe submitted at least 30 days before the end of the quarter.
- Annual report shall be\r\nsubmitted at least 90 days before the end of the fiscal year.
c) In addition to the\r\nprofessional reports prescribed in Point a of this Clause, the Ministry of\r\nFinance may request insurers to submit additional reports on their operation\r\nand financial situation for the purposes of statistics and assessing provision\r\nof agricultural insurance.
d) Insurers shall be\r\nresponsible for the accuracy and truthfulness of their reports.
Chapter V
Article 40. Effect
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2. Ministers, heads of ministerial\r\nagencies, heads of Governmental agencies and Presidents of People's Committees\r\nof provinces and central-affiliated cities and regulated entities of the Decree\r\nare responsible for the implementation of this Decree./.
\r\n THE PRIME MINISTER
\r\n
\r\n
\r\n
\r\n
\r\n Nguyen Xuan Phuc
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File gốc của Decree No. 58/2018/ND-CP dated April 18, 2018 on agricultural insurance đang được cập nhật.
Decree No. 58/2018/ND-CP dated April 18, 2018 on agricultural insurance
Tóm tắt
| Cơ quan ban hành | Chính phủ |
| Số hiệu | 58/2018/ND-CP |
| Loại văn bản | Nghị định |
| Người ký | Nguyễn Xuân Phúc |
| Ngày ban hành | 2018-04-18 |
| Ngày hiệu lực | 2018-06-05 |
| Lĩnh vực | Bảo hiểm |
| Tình trạng | Còn hiệu lực |