Vietnam is a country with a large area of industrial crops and a large export output in the world, but industrial crop growers still do not have appropriate risk protection measures. Meanwhile, they have to face natural disasters and epidemics regularly. The need to be insured against these risks is becoming increasingly urgent. Therefore, to meet the growing demand of the agricultural insurance market in general and commercial industrial crop insurance products in particular. The General Director of the Insurance Corporation issued Decision No. 6541/QD-BHBV dated December 1, 2020, on promulgating the Rules for Industrial Crop Insurance.
Organizations and individuals producing in the agriculture, forestry, and fishery sectors (hereinafter referred to as agricultural production organizations and individuals)
Rubber trees, fruit trees and other industrial crops.
Insured Named Perils in respect of trees:
- Fire, lightning
- Windstorm
- Flood
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