In 2023, what is the rate of insurance liability regarding health and life casualties caused by motor vehicles in Vietnam?
In 2023, what is the rate of insurance liability regarding health and life casualties caused by motor vehicles in Vietnam? - Mr. Manh (Ha Noi).
What are regulations on scope of compensation of compulsory civil liability insurance of motor vehicle users in Vietnam?
Pursuant to Article 5 of the Decree 03/2021/NĐ-CP stipulating regulations on scope of compensation of compulsory civil liability insurance of motor vehicle users in Vietnam as follows:
- Non-contract damage such as health, life and assets done to a third party by motor vehicles.
- Damage to health and lives of passengers done by motor vehicles.
In 2023, what is the rate of insurance liability regarding health and life casualties caused by motor vehicles in Vietnam?
Pursuant to Article 4 of the Decree 04/2021/TT-BTC stipulating insurance liability as follows:
Insurance liability
1. Insurance liability for health and life casualties caused by motor vehicles shall be VND 150 million per individual involved per accident.
2. Insurance liability for asset damage:
a) Insurance liability for accidents caused by motorbikes, motorized tricycles, mopeds (including electric mopeds) and vehicles with similar structures according to Law on Road Traffic shall be VND 50 million per accident.
b) Insurance liability for accidents caused by automobiles, tractors, trailers or semi-trailers towed by automobiles, tractors or specialized vehicles according to Law on Road Traffic shall be VND 100 million per accident.
As regulations above, the rate of insurance liability regarding health and life casualties caused by motor vehicles in Vietnam shall be determined as follows:
- Insurance liability for health and life casualties caused by motor vehicles shall be VND 150 million per individual involved per accident.
- Insurance liability for asset damage:
+ Insurance liability for accidents caused by motorbikes, motorized tricycles, mopeds (including electric mopeds) and vehicles with similar structures according to Law on Road Traffic shall be VND 50 million per accident.
+ Insurance liability for accidents caused by automobiles, tractors, trailers or semi-trailers towed by automobiles, tractors or specialized vehicles according to Law on Road Traffic shall be VND 100 million per accident.
08 cases of exclusion of compulsory civil liability insurance of motor vehicle users in Vietnam
Pursuant to Article 13 of the Decree 03/2021/NĐ-CP stipulating 08 cases of exclusion of compulsory civil liability insurance of motor vehicle users in Vietnam as follows:
- Damage done intentionally by motor vehicle users, motor vehicle operators or victims of the accidents.
- Vehicle operators intentionally fleeing the scene after committing accidents without exercising civil responsibilities of motor vehicle users. Vehicle operators intentionally fleeing the scene after committing accidents and exercising civil responsibilities of motor vehicle users shall not be included under insurance exclusion.
- Operators who are not within adequate age range to operate motor vehicles as per road traffic laws;
Operators who do not carry legitimate, proper driving license (driving license with template number at the back inconsistent with the latest template number in information system for managing driving license) issued by competent authorities at the time of accidents or carry inappropriate driving license when operating motor vehicles which require specific driving license.
In case driving license of operators are revoked or suspended, the operators are considered to be not carrying driving license.
- Damage that causes indirect consequences including: reduced commercial value, damage related to use and utilization of damaged assets.
- Damage to assets caused by operators who have alcohol in breath or blood, or use narcotics or other prohibited stimulants as per the law.
- Damage to assets which are lost or stolen as a result of the accidents.
- Damage to special assets including: gold, silver, precious stones, financial instruments namely money, antiques, precious fine arts, and cadavers.
- War, acts of terrorism, earthquake.
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