Thông tư 101/2012/TT-BTC

Circular No. 101/2012/TT-BTC of June 20, 2012, stipulating some issues on finance for insurance enterprises, reinsurance enterprises implementing pilot of agricultural insurance under the Decision No. 315/QD-TTG on the pilot provision of agricultural insurance during 2011- 2013

Nội dung toàn văn Circular No. 101/2012/TT-BTC of June 20, 2012, stipulating some issues on finance for insurance enterprises, reinsurance enterprises implementing pilot of agricultural insurance under the Decision No. 315/QD-TTG on the pilot provision of agricultural insurance during 2011- 2013


THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No. 101/2012/TT-BTC

Hanoi, June 20, 2012

 

CIRCULAR

STIPULATING SOME ISSUES ON FINANCE FOR INSURANCE ENTERPRISES, REINSURANCE ENTERPRISES IMPLEMENTING PILOT OF AGRICULTURAL INSURANCE UNDER THE DECISION NO. 315/QD-TTG ON THE PILOT PROVISION OF AGRICULTURAL INSURANCE DURING 2011- 2013

Pursuant to the 2000 Law on Insurance Business;Law amending and supplementing a number of articles of Law on Insurance Business and documents guiding implementation;

Pursuant to the Government’s Decree No. 118/2008/ND-CP of November 27, 2008 defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

Pursuant to the Decision No. 315/QD-TTg of March 01, 2011 of the Prime Minister on implementing the pilot provision of agricultural insurance during 2011- 2013;

At the proposal of the Director of the Insurance management and supervision Department;

The Minister of Finance promulgates the Circular stipulating some issues on finance for insurance enterprises, reinsurance enterprises selected to implement pilot of agricultural insurance under the Decision No. 315/QD-TTg on the pilot provision of agricultural insurance during 2011- 2013 (the Decision No. 315/QD-TTg)

Chapter 1.

GENERAL PROVISION

Article 1. Scope of regulation

The Circular stipulates some issues on finance for insurance enterprises, reinsurance enterprises implementing pilot of agricultural insurance under the Decision No. 315/QD-TTg relating to the following contens:

1. Making out of an invoice for agricultural insurance premium of insurance enterprises;

2. Expenses of insurance enterprise, reinsurance enterprise participating in the pilot of agricultural insurance;

3. Accounting turnover, expenses from pilot operation of agricultural insurance of insurance enterprise participating in coinsurance;

4. Annually handling losses for the pilot of agricultural insurance of insurance enterprise, reinsurance enterprise;

Article 2. Subjects of application

The insurance enterprises, reinsurance enterprises selected to implement the agricultural insurance pilot under Decision of the Ministry of Finance and other organizations, individuals related to implementation of the agricultural insurance pilot under the Decision No. 315/QD-TTg have responsibility for obeying provisions in this Circular and other relevant law.

Chapter 2.

SPECIFIC PROVISIONS

Article 3. The invoice for agricultural insurance premium of insurance enterprise

1. Insurance enterprises implement printing, issuance and use of agricultural insurance premium invoices as prescribed by law.

2. The invoice for agricultural insurance premium included the following contents:

Total of insurance premium under insurance contract, including:

- The insurance premium being supported by the State budget;

- The insurance premium being paid by the insurance buyer.

The total insurance premium which the insurance buyer must pay being written in number and in word on the invoice means insurance premium which insurance buyer must pay.

Article 4. Expenditures of insurance enterprises

For sale expenses, management expenses, insurance commission expenses, support expenses, agricultural insurance pilot, insurance enterprises are permitted to use not exceeding 30% of turnover of agricultural insurance premium ; Including:

1. The insurance commission expenses for insurance agencies, support expenses, agricultural insurance pilot: The insurance enterprises may pay insurance commissions, supports, remunerations for implementation of agricultural insurance pilot not exceeding 20% of turnover of agricultural insurance premium;

In which, the insurance enterprises may pay supports, remunerations for the following objects:

- The support expenses for activities of the steering board at levels where implement the agricultural insurance pilot. Meetings, propagation, trainings for farmer households.

- Remuneration expenses for officers directly participating in deployment of agricultural insurance pilot: Amounts of remuneration expenses are paid based on contributed merit and result of collecting insurance premium.

- Amounts of support expenses, remuneration expenses are specified for activities and officers took part in as follows: The insurance enterprises consult the head of steering board for agricultural insurance in provinces, cities under the Decision No. 315/QD-TTg in order to decide in conformity with actual localities.

2. Sale expenses, management expenses for implementation of the agricultural insurance pilot of insurance enterprises: The insurance enterprises may pay, make accounting in management expense of deployment of the agricultural insurance pilot and may make settlement ensuring not exceeding 15% of turnover of agricultural insurance premium.

Article 5. Sale expenses, management expenses for implementation of the agricultural insurance pilot of reinsurance enterprises:

The reinsurance enterprises may pay for management, sale and make accounting in expenses not exceeding 3.5% of turnover of pilot agricultural reinsurance premium.

Article 6. Principle of coinsurance

1. When concluding insurance contracts with the insurance buyer, insurance enterprises participating in coinsurance may have their name in the insurance contract in common or authorize for an insurance enterprise to have name in the insurance contract (the leading insurance enterprise).

2. If authorize for an insurance enterprise to have name in the insurance contract, insurance enterprises participating in coinsurance must sign the coinsurance agreement. The agreement must stipulate clearly duties and rights of insurance enterprises participating in coinsurance and the time arising insurance duty with respect to the insurance buyer of the leading insurance enterprise shall be concurrently the time arising insurance duty with respect to the insurance buyer of the insurance enterprises participating in coinsurance. The leading insurance enterprise must take responsible before law for commitments in insurance contract with respect to insurance buyers.

Article 7. Accounting turnover, expenses of insurance enterprise participating in coinsurance

1. Accounting turnover

a) If insurance enterprises participating in coinsurance have their name in insurance contract in common When collect insurance premium, each insurance enterprise participating in coinsurance shall issue invoice of insurance premium collection for insurance buyer in correspondence to its liability.

b) If insurance enterprises participating in coinsurance authorize for a heading insurance enterprise to implement authorized collection of insurance premium:

- When collect insurance premium amounts, the leading insurance enterprise shall make invoice of insurance premium collection to hand over for insurance buyer, enterprise participating in coinsurance is not filled in the invoice.

- Based on percentage of liability in coinsurance agreement, the leading insurance enterprise does accounting in its turnover for insurance premium correspondence to its rate of liability. The rest of insurance premium in correspondence to percentage of liability of other enterprises participating in coinsurance shall be done accounting such as amounts of authorized collection.

- Periodically as prescribed in coinsurance agreement, the leading insurance enterprise shall make a list of insurance premium turnover and send it to coinsurance enterprises.

- After receiving the list of insurance premium turnover and insurance premium amounts from the leading insurance enterprise, the coinsurance enterprise makes an invoice to the leading insurance enterprise, the invoice are written clearly that receiving insurance premium amounts being collected under authorization by the leading insurance enterprise (name, address, tax identification number of enterprise) in according to the list of insurance premium turnover (number, date of the list). This invoice is stated as grounds for the coinsurance enterprise to make accounting for its turnover.

2. Accounting expenses

a) When paying expenses related to insurance contracts, enterprise may do accounting expenses only for invoices filling name, address, tax identification number of itself as prescribed. If insurance enterprises participating in coinsurance authorize for the leading insurance enterprise to pay all eapenses related to insurance contract, the leading insurance enterprise shall be responsible for all expenses. The leading insurance enterprise shall make accouting for all expenses arising, then gathering to apportion expense for insurance enterprise participating in coinsurance, collecting amount of money and make accounting to reduce its expenses.

b) The expense apportion is implemented as follows:

- For commission expenses, support expenses, remuneration expenses, management expenses, sale expenses, the leading insurance enterprise may apportion to insurance enterprise participating in coinsurance in maximum of 35% turnover of original insurance premium of enterprise participating in coinsurance, of which commission expenses, support expenses, remuneration expenses in maximum are 20%; and management expenses, sale expenses in maximum are 15% of turnover of original insurance premium.

- The direct expenses for insurance business (expenses for indemnity, assessment, loss prevention and reduction, risk evaluation before accepting insurance …) being apportioned in percentage of liability in coinsurance agreement and actual expense arising.

- The leading insurance enterprise shall arrange reinsurance for entire of liability of insurance contract. The reinsurance premium and amounts of turnovers, expense for transfer of reinsurance are apportioned to enterprise participating in coinsurance in according to percentage of liability in coinsurance agreement.

c) Periodically as prescribed in coinsurance agreement, the leading insurance enterprise shall make a list enclosed the payment sheet and send them to insurance enterprise participating in coinsurance. After receiving confirmation of insurance enterprise participating in coinsurance, the leading insurance enterprise shall make an invoice to hand over it for insurance enterprise participating in coinsurance. This invoice is stated grounds for accouting of expenses of enterprise participating in coinsurance and accounting for reducing expenses of the leading insurance enterprise.

Article 8. Annually handling losses for the pilot of agricultural insurance

1. The insurance enterprises, reinsurance enterprises shall do accounting separately for the annual losses from their agricultural insurance pilot.

2. In financial year, insurance enterprise or reinsurance enterprise suffering loss from operation of agricultural insurance pilot shall do accounting for this loss in its general result of business operation. If suffering loss due to losses from operation of agricultural insurance pilot, may carry forward losses to the subsequent year as prescribed by law.

Chapter 3.

ORGANIZATION OF IMPLEMENTATION

Article 9. Effect

1. Other issues relating to financial regime, accounting regime of insurance enterprises, reinsurance enterprises deploying the agricultural insurance pilot are implemented in according to the current laws.

2. This Circular effects on August 06, 2012 and applies to agricultural insurance contracts deployed under the Decision No. 315/QD-TTg and the Circular No. 121/2011/TT-BTC , of August 17, 2011 of the the Ministry of Finance guiding a number of articles of the Decision No. 315/QD-TTg

3. The insurance enterprises, reinsurance enterprises selected to implement the agricultural insurance pilot have responsibility for management of collection and expenditure in strictness, saving, effectiveness. During the course of implementation, if have any difficulties, should be reported timely to the Ministry of Finance for consideration, settlement.

 

 

FOR THE MINISTER OF FINANCE
DEPUTY MINISTER




Tran Xuan Ha

 


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        Circular No. 101/2012/TT-BTC of June 20, 2012, stipulating some issues on finance for insurance enterprises, reinsurance enterprises implementing pilot of agricultural insurance under the Decision No. 315/QD-TTG on the pilot provision of agricultural insurance during 2011- 2013
        Loại văn bảnThông tư
        Số hiệu101/2012/TT-BTC
        Cơ quan ban hànhBộ Tài chính
        Người kýTrần Xuân Hà
        Ngày ban hành20/06/2012
        Ngày hiệu lực06/08/2012
        Ngày công báo...
        Số công báo
        Lĩnh vựcDoanh nghiệp, Bảo hiểm
        Tình trạng hiệu lựcCòn hiệu lực
        Cập nhật10 năm trước

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                Văn bản gốc Circular No. 101/2012/TT-BTC of June 20, 2012, stipulating some issues on finance for insurance enterprises, reinsurance enterprises implementing pilot of agricultural insurance under the Decision No. 315/QD-TTG on the pilot provision of agricultural insurance during 2011- 2013

                Lịch sử hiệu lực Circular No. 101/2012/TT-BTC of June 20, 2012, stipulating some issues on finance for insurance enterprises, reinsurance enterprises implementing pilot of agricultural insurance under the Decision No. 315/QD-TTG on the pilot provision of agricultural insurance during 2011- 2013