Guides on fire and explosion insurance regime
Ministry of Finance and Public Security issued Joint Circular No 41/2007/TTLT-BTC-BCA dated on 24 April, 2007 guides on implementation of number of articles of Government's Decree No 130/2006/ND-CP dated on 8 November 2006 regulated fire and/or explosion insurance; applied for agencies, organizations, individuals has fire and/or explosion prone-establishments (regulated at Annex 1 of Decree No 35/2003/ND-CP dated on 4/4/2003 detailing the implementation of a number of articles of Law on Fire Prevention and Fighting) and insurance enterprises allowed to do fire and/or explosion insurance business.Insurance enterprises allowed to do fire and/or explosion insurance business is enterprises have License for establishment and operation of insurance enterprises granted by Ministry of Finance (users can search for this license at Business Portal with searching code of 3027). Insurance enterprises will sign contract only with buyers who has certificate from Fire Prevention and Fighting Police Department (searching code is 0001 at Business Portal) or Certificate of full satisfaction of fire prevention and fighting condition. Enterprises must deduct 5% from total insurance fee to contribute to budget for fire prevention and fighting activities.
The Circular was published on Official Gazette on 20 May, 2007 and comes into effect 15 days afterward.
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