Which Assets Are Covered by Mandatory Fire and Explosion Insurance?
Based on Clause 1, Article 4 of Decree 23/2018/ND-CP regulating compulsory fire and explosion insurance issued by the Prime Minister of the Government of Vietnam, this issue is regulated as follows:
The objects of compulsory fire and explosion insurance are all assets of the facility with fire and explosion hazards, including:
- Buildings, structures, and assets attached to buildings and structures; machinery and equipment.
- Various types of goods and materials (including raw materials, semi-finished products, finished products).
Additionally, the object and location of the object of insurance must be clearly stated in the insurance contract or Insurance Certificate.
The above is the response regarding the objects under the scope of compulsory fire and explosion insurance.
Sincerely!
