The country's Insurance Supervisory Authority demanded insurance agencies immediately take measures to provide clients with complete and accurate information and review the quality of their agents' consultation and sales techniques, local newspaper Vietnam News reported.
The authority stressed that agents' violations would be dealt with, and their agencies would bear part of the responsibility.
The finance ministry proposed agencies to review and improve customer service quality, business operations, internal regulations and risk management to ensure they are all in compliance with current regulations.
In an earlier development, a Vietnamese actress live-streamed her grievances over policies of the insurance she bought for her family with clauses that she had not been aware of.
As of Dec. 12, 2022, the total assets of insurance companies in Vietnam grew by 14.51 percent against the beginning of the year to 811.31 trillion Vietnamese dong (34.4 billion U.S. dollars), while equity reached 162.81 trillion Vietnamese dong (6.9 billion dollars), up 3.83 percent.
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