Fire and explosion insurance is considered an effective measure to prevent risks and property damage, because when an insured event occurs, the insurance company will pay part or all of the costs for customers. to repair and clean up those damages. Therefore, buying fire insurance is a way to establish protection of common interests for society and related parties; In order to issue and use insurance effectively, and bring many practical values, the state has issued legal regulations to regulate issues related to fire and explosion insurance. To better understand the provisions of the law, please join IBAOHIEM to the article “Decree 23 fire and explosion insurance” right below!
Decree 23 fire and explosion insurance is the abbreviation for Decree 23/2018/ND-CP regulating compulsory fire and explosion insurance. This Decree was issued by the Government to guide ministries, agencies, organizations and individuals in implementing the provisions of the Law on Fire Prevention and Fighting. During the implementation process, Decree 23 has been amended and supplemented by Decree 97/2021/ND-CP to be more consistent with reality, ensuring more effective enforcement of fire prevention and fighting regulations. .
The content of Decree 23 is the content presenting relevant regulations on compulsory fire and explosion insurance such as: scope of regulation, subjects of application, principles of insurance participation, conditions, and insurance premiums. and insurance amount, exclusions, insurance compensation, responsibilities of related entities, etc. Therefore, within the scope of this article, IBAOHIEM will share with you the outstanding provisions of Decree 23 fire and explosion insurance need to pay attention:
Regarding applicable subjects, including: agencies, organizations and individuals with facilities at risk of fire and explosion, the list of such facilities is listed in Appendix I of Decree 97/2021/ND-CP; businesses that issue and pay insurance benefits; Other agencies, organizations and individuals related to compulsory fire and explosion insurance;
The subject of insurance is all assets of the establishment that have been insured, including: Houses, buildings and assets attached to houses and buildings; devices. All types of goods and supplies (including raw materials, semi-finished products, and finished products). In addition, when participating in insurance, you can agree on additional terms with the insurance company, and these agreements must be specifically and clearly stipulated in the contract or insurance certificate;
Similar to the subject of insurance, the scope of insurance will also be expanded according to the needs and requests of customers and must be approved by the insurance company. Normally, if there are no additional provisions, the scope of insurance prescribed under Decree 23 is fire and explosion, accordingly the insurance company will not be responsible for paying insurance if it falls into the excluded cases. ;
The insurance premium is calculated as a percentage of the minimum insurance amount, in which the insurance amount is understood as the entire value of your property that has been valued into money according to the market price at the time of delivery. contract, and the percentage will vary depending on the purpose of use and the structure of the work being insured. For example, the fee percentage applied to state agency headquarters is 0.05%; Apartment buildings, dormitories, mixed-use houses without automatic fire suppression systems are 0.1%,…
Hopefully IBAOHIEM’s above article has helped you understand better Decree 23 fire and explosion insurance.
Details of the decree here: Decree No. 23/2018/ND-CP of the Government
Learn product details here: Fire insurance
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