Compulsory fire and explosion insurance certificate must be issued to the policyholder in Vietnam

Bao Ngoc

09:00, 10/11/2021

On November 8, 2021, the Government of Vietnam promulgated Decree 97/2021/ND-CP amending and supplementing add some things of Decree 23/2018/ND-CP on compulsory fire and explosion insurance.

According to the Decree, the regulations on compulsory fire and explosion insurance certificates are added as follows:

- The insurance enterprise must issue the compulsory fire and explosion insurance certificate to the insurance buyer.

The compulsory fire and explosion insurance certificate is designed by the insurance enterprise and must include the following contents:

+ Name and address of the insurance enterprise, the insurance buyer, the insured person;

+ Belonging to the list of establishments (specify which establishments are on the list of establishments having fire and explosion hazards according to the provisions of the law of Vietnam on fire prevention and fighting);

+ Address of the insured property;

+ The property is insured;

+ Amount of insurance;

+ Insurance deductible;

+ Insurance period;

+ Rate of insurance premiums and premiums;

+ Name, address, phone number of the insurance company's hotline;

+ Date, month and year of issuance of the Certificate of Insurance.

- In case of issuance of an electronic insurance certificate, the insurance enterprise must comply with the provisions of the Law on Electronic Transactions and guiding documents of Vietnam; The electronic insurance certificate must fully comply with current regulations and fully reflect the above-mentioned contents.

Decree 97/2021/ND-CP of Vietnam takes effect from December 23, 2021.

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