Compulsory Fire and Explosion Insurance Policy will indemnify the Insured for losses or damages to insured property by fire, lightning or explosion (i.e. houses, architectural works, machines and equipments, goods) according to the wordings, tariff, terms and conditions regulated in Circular 220/2010/TT-BTC.
The Insurer shall have no obligations to indemnify for any losses or damages caused by the following occurrences:
- Earthquake, volcanic eruption or other convulsion of nature,
- Property’s own fermentation or natural heating,
- Damages to electrical machinery, equipments or parts of electrical equipments from overload, over pressure, short circuit, self-heating, electric arc or electrical leakage for any reasons, including lightning.