Decree 23 mandatory fire and explosion

As we know, the insurance market has been providing product lines under two main types: compulsory insurance and voluntary insurance. If voluntary insurance is an insurance product designed and issued by insurance businesses, participation will depend on the wishes and will of the customer and the order and procedures applied to the participation process. Insurance is regulated by each business into its own set of rules. Compulsory insurance is an insurance product organized by the state, insurance businesses will be the channels providing that product, so participating in insurance will be mandatory for certain subjects. regulations, and the order and procedures for application will be specified in the laws. Within the scope of this article, IBAOHIEM would like to introduce to you “Decree 23 mandatory fire and explosion” regulations on compulsory fire and explosion insurance.

Decree 23/2018/ND-CP regulates compulsory insurance and fire and explosion. This Decree was issued by the Government to guide individuals, organizations and agencies to implement it properly, fully and effectively. comply with the provisions of the fire prevention and fighting law. And Decree 23 mandatory fire and explosion has been amended and supplemented by Decree 97/2021/ND-CP.

Based on this Decree, it can be affirmed that participating in purchasing compulsory fire and explosion insurance is an obligation that must be fulfilled by regulated entities. Customers participating in purchasing insurance, as well as insurance providers, can agree on additional terms but must not violate the principles and content specified in the Decree.

Applicable subjects are specified in Article 2 of Decree 97/2021/ND-CP: agencies, organizations and individuals with premises at risk of fire and explosion according to the provisions of law on fire prevention. fire fighting. And following Appendix I of this Decree, you can see lists of fire and explosion risks such as:

Head offices of state agencies at all levels have 10 floors or more or have a total volume of working blocks of 25,000 m3 or more;

Theaters, cinemas, circuses with 600 seats or more; Convention and event centers that are 5 stories or more high or have a total volume of conference and event organizers of 10,000 m3 or more;

Shops selling, repairing and maintaining cars, motorbikes, motorbikes;…

Pursuant to Article 6 of this Decree, the scope of insurance is: fire and explosion for all assets of the establishment at risk of fire and explosion (including: houses, buildings, assets attached to houses, buildings, etc.). processes, machinery, equipment, goods, supplies), except for cases where liability is excluded such as earthquakes, volcanoes, property burned or exploded at the request of competent authorities, etc. However, if you and the insurance company agree on additional insurance conditions, it is still legal, based on Article 3 of the Decree regulating the principles of participation in fire and explosion insurance.

Decree Decree 23 mandatory fire and explosion has regulated insurance premiums and deductibles, and is currently amended and supplemented by Decree 97/2021/ND-CP. Accordingly, in Appendix I, the insurance premium is determined by the minimum insurance amount x insurance premium ratio. The insurance amount will be the entire value of the customer’s assets valued at market price, and the premium rate applied will vary for each facility. For example, the fee rate for apartment buildings with automatic fire extinguishing systems installed is 0.05%, bars and dance halls are 0.4%, theaters and beauty salons are 0.05%, etc.

Hopefully IBAOHIEM’s above article has helped you better understand some outstanding regulations here Decree 23 mandatory fire and explosion

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