Binh Thuan Electricity Company informs customers using electricity about the violation of insurance advertising "Household accident using electricity" of Global Insurance Corporation (GIC)

On June 2, 2023, Binh Thuan Electricity Company received feedback from electricity customers in Phu Thai village, Ham Tri commune, Ham Thuan Bac district, Binh Thuan province about the case of selling "Household electricity accident" insurance of Global Insurance Joint Stock Corporation with a fee of 200,000 VND/household/year.

The advertisement and insurance certificate for “Household Electrical Accident” states: Joint product between Global Insurance Corporation (GIC) and Vietnam Electricity Group (EVN).

Immediately after receiving customer feedback, Binh Thuan Power Company reported to the Southern Power Corporation (the superior management unit) . On June 6, 2023, the Southern Power Corporation reported to the Vietnam Electricity Group (the superior management unit) and the Vietnam Electricity Group commented as follows:

- On February 9, 2017, the Government issued Decree No. 10/2017/ND-CP promulgating the Financial Management Regulations of Vietnam Electricity Group (EVN), according to which EVN and its member units are not allowed to do business in the fields of securities, banking, insurance, investment funds, real estate, and finance. Currently, EVN does not do business or cooperate in insurance business, EVN does not have a cooperation agreement with Global Insurance Corporation (GIC) in the field of insurance, and EVN also does not have an agreement allowing GIC to use the EVN brand in GIC's activities.

- On June 14, 2023, EVN issued Document No. 3217/ EVN -PC+KD+TT requesting GIC to review and immediately stop using the EVN trademark and information related to EVN on GIC's services and products nationwide, publicly correct and correct information for customers who have purchased insurance .

Thus, EVN does not conduct or cooperate in the business of “Electricity Accidents” insurance with GIC, and EVN also does not have an agreement allowing GIC to use the EVN trademark in GIC’s activities. This is a violation of the Intellectual Property Law by GIC in the unauthorized use of the EVN trademark in insurance products and services.

Binh Thuan Electricity Company respectfully informs customers using electricity to know.

Best regards.

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