- Insurable value of up to VND 2 billion: VND 4 million.
- Insurable value ranging from more than VND 2 billion to VND 10 billion: VND 10 million.
- Insurable value ranging from more than VND 10 billion to VND 50 billion: VND 20 million.
- Insurable value ranging from more than VND 50 billion to VND 100 billion: VND 40 million.
- Insurable value ranging from more than VND 100 billion to VND 200 billion: VND 60 million.
- Insurable value of more than VND 200 billion: VND 100 million.
Additionally, Paragraph 1 Subparagraph 1 of the Appendix to this Decree specifies that the deductible amount is not allowed to exceed:
- 1% of the insurable value with respect to insured establishments exposed to class-A fire and explosion risks.
- 10% of the insurable value with respect to insured establishments exposed to class-B fire and explosion risks.
The abovementioned regulation is applied to insured establishments facing fire and explosion risks (except nuclear facilities) of which total insurable value of property existing at a single location is less than VND 1,000 billion.
The Decree No. 23/2018/ND-CP will come into effect on April 15, 2018.
>> CLICK HERE TO READ THE ARTICLE IN VIETNAMESE
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