Required Explosion Insurance

Property Explosion Insurance for businesses according to the Finance Ministry's current regulations on the Law on Fire Prevention and Fighting.

1. Object insurance:

All property of the establishment is at risk of fire and explosion, specified in Appendix II of the Government's Decree No. 79/2014 / ND-CP dated July 31, 2014, including the construction architecture of the house, works and assets attached to that house or work; types of machines and equipment; assorted goods and supplies (including raw materials, semi-finished products and finished products).

2. Range

Damage to the insured object arising from the risk of fire, explosion, except in cases of fire and explosion due to the following reasons:

  • Earthquakes, volcanic eruptions or other natural fluctuations.
  • Damage caused by events in politics, security and social order and safety.
  • Property was burned, exploded at the discretion of the state authority.
  • Self-fermenting or self-heating properties; the property is subjected to a heat treatment.
  • Lightning hits the insured property directly, but does not cause an explosion or fire.
  • The material of a nuclear weapon causes an explosion or fire.
  • Electrical machinery, equipment or parts of electrical equipment are damaged by being directly affected by overloading, overpressure, short circuit, self-heating, electric arc, electric leakage due to any cause, including lightning.
  • Damage caused by intentional fire or explosion of the insured person; by intentionally violating the regulations on fire prevention and fighting and the direct cause of fire and explosion.
  • Damage to computer data, software and programs.
  • Damage caused by burning forests, bushes, grasslands, or burning for the purpose of clearing fields or land.

3. Insurance fee

Premium rate applicable to facilities at risk of fire and explosion specified in Section I, Appendix II issued together with Decree 23/2018/ND-CP dated February 23, 2018;



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