On March 10, 2022, the Government issued Decree 20/2022/ND-CP amending Decree 119/2015/ND-CP on compulsory insurance in construction investment (Decree 20). Decree 20 will take effect from July 1, 2022 with some notable new contents as follows:
(i) Supplementing the obligation of construction contractors to purchase compulsory civil liability insurance for third parties;
(ii) Supplementing a number of specific provisions related to the insurance coverage, minimum insurance reimbursement, and the period of compulsory civil liability insurance for third parties;
(iii) Instructions in the case of amending and/or supplementing the contents of civil liability insurance for third parties in the insurance contracts signed before the validity of Decree 20.