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Highlights of the draft decree amending a number of articles of Decree 23/2018/ND-CP on compulsory fire and explosion insurance: Increase spending to limit damage caused by fire and explosion

Decree 23/2018/ND-CP regulating compulsory fire and explosion insurance has created an important legal corridor to implement insurance for facilities at risk of fire and explosion, however, some regulations have been is no longer relevant, especially, Decree No. 79/2014/ND-CP/2014/ND-CP stipulating the list of establishments at risk of fire and explosion has been replaced by Decree 136/2020, so Decree No. 23/2018/ND-CP is no longer relevant. Therefore, the Ministry of Finance has developed a draft Decree amending and supplementing a number of articles of Decree No. 23/2018/ND-CP/2018 on compulsory fire and explosion insurance.

One of the notable provisions in the draft decree is the increase in expenditures on supporting fire prevention and fighting equipment. The reason is that more and more facilities have large-scale fire and explosion hazards, increasing flammability, while equipment for fire prevention and fighting is still lacking and has not met the requirements. It is necessary to invest in increasing the purchase of modern equipment. Therefore, the draft decree has been revised in the direction of increasing the level of expenditure for supporting equipment for fire prevention and fighting equipment.

Source: Fire and Rescue Police Department - 9/9/2021

 

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