Office Insurance & PCCC Fire Dept
Office and business insurance are compulsory by law for public places. The PCCC fire department is checking your public liability insurance.
Office and business insurance is compulsory
The fire dept PCCC is enforcing the law on office and business insurance for minimum public liability coverage. Especially public places should be insured, it is enforced yearly by visit of PCCC, your district fire dept.
Business insurance is becoming compulsory for all
Recently, Vietnam laws impose 3rd party liability insurance for businesses greeting public visitors. Every year, the PCCC fire dept will visit your premises and require valid your business insurance. With recent massive fires in factories and buildings, the real-estate management request proof of insurance
With more fire and polluting cases, office and factories insurance are compulsory to protect the public.
At first, the yearly visit of the Fire dept will inspect that you have purchased compulsory third party insurance, especially if you are open to the public. More and more office building or industrial zone management will require that you purchase insurance. Some property management companies do not purchase any kind of insurance for the common areas. If your place is damaged or burnt, you should rely on your own insurance to refund your own premises and people, the public… and sometimes the common area may become your concern too. If you are the owner, we suggest you ask the property management company if they have purchased building insurance as per law, and check what is included or not. Focus on your property refundable and the 3rd party exposure left to you, whoever is responsible.
The main benefits of business insurance
It is compulsory to purchase public liability insurance, whether you are an office-based service, restaurant, hotel, entertainment, service provider, factory, banks, since 15/4/2018, Nghị định số 23/2018/NĐ-CP government decree, especially for public places.
Like in most countries the main benefit for office or factory insurance cover are:
COMPULSORY PUBLIC LIABILITY
- PCCC fire dept compulsory limit
- Voluntary additional material damage
- Voluntary additional public & visitor injuries
- Professional extensions: pollution, food poisoning, outdoor activities...
PROPERTY
- Property building all risks
- Equipment, decoration, stock inventory and work in progress
- Goods under your custody
SOME EXTENSIONS
- Cash in transit (payroll or clients sales)
- Public events and launches
- Business interruption (plan B) costs while you recover
- Income replacement
