Perfection of public property insurance in Vietnam

Abstract

In recent years, Natural Hazard flooding due to global climate change has tended to rise and occurred tremendously. The unusual weather- storms, floods, tsunamis, earthquakes, drought and prolonged coldhave caused more damage to the global economy and made a huge impact on the investment environment of countries around the world in general, and of Vietnam in particular; especially, the impact has even been worse in developing countries whose non-life market insurance- an important financial capacity required for natural disaster relief- is still rather new and limited. Cost of reconstruction and rehabilitation after the disaster of the countries affected by natural disasters is very weak and depend on government and households. Property insurance is one of the important measures that many countries have used to reduce the cost burden of the government and households due to natural disasters. So the question to tackle: What does the public property insurance cover? And what measures are being taken to promote the insurance of public property? In this article the author wishes to clarify further the above issues.