Insurance Business

Agriculture Insurance

The government issued Decree 58/2018/NĐ-CP on 18 April 2018, whichis the first legal instrument to deal specifically with agricultural insurance.

The most significant provision of this decree is the subsidization of insurance premiums for certain individuals/organisations and categories of agriculture:

• organisations applying advanced technology can receive a 20% subsidy;
• those engaged in arable, livestock, and/or aquaculture canreceive a subsidy from up to 90% for those classified as being in poverty, or 20% for all others.

The insured risks for the subsidized insurance premiums are natural disaster and disease.

Decree 58 will come into effect on 5 June 2018.

For more information, click ATT00542


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