This Circular adds point e to item 1.1 clause 1 Article 21 of Circular No. 50/2017/TT-BTC to allow insurance buyers (policyholders) to reach an agreement with the insurers to extend the insurance premium payment period or owe insurance premiums due to impact of Covid-19 when these conditions are met:
(i) The policyholders or the insurers locates in localities that are applying social quarantine under Directive No. 15/CT-TTg, Directive No. 16/CT-TTg or areas subject to medical quarantine, lockdown for prevention and control of Covid-19 or areas where epidemic level is determined very high risk or high risk according to Resolution No. 128/NQ-CP .
(ii) The obligation of insurance premium payment arises from January 1st, 2021 until the day on which the Prime Minister declares that Covid-19 is over.
In addition, this Circular also amends, supplements to Article 3 of Circular No. 04/2021/TT-BTC to allow owner of motor vehicle and the insurance enterprise to reach an agreement to extend insurance term corresponding to the duration in which the motor vehicle does not participate in traffic, does not operate due to application of measures for Covid-19 prevention and control under Directive No. 15/CT-TTg, Directive No. 16/CT-TTg
This Circular takes effect from the date of its signing.
|Published||Vietlaw's Newsletter No. 550|