Are investors required to buy compulsory construction insurance when implementing a highway construction project?
Whether the investor must buy compulsory construction insurance when implementing a highway construction project or not, it must be based on the provisions of Article 32 of Decree 67/2023/ND-CP, the content is as follows:
"The insured
The investor is responsible for purchasing mandatory construction insurance during the construction period for the following projects:
1. Works and project items that have a major impact on safety and community benefits are specified in Appendix X of Decree No. 15/2021/ND-CP dated March 3, 2021 of the Government detailing regulations. Some contents about construction investment project management.
2. Construction investment projects have a high risk of adverse impact on the environment or have a risk of adverse impact on the environment specified in Appendix III and Appendix IV of Decree No. 08/2022/ND- CP dated January 10, 2022 of the Government details a number of articles of the Law on Environmental Protection and is on the list of investment projects that must undergo environmental impact assessment according to the provisions of the Law on Environmental Protection.
3. Projects have specific technical requirements and complex construction conditions according to the provisions of construction law and other relevant laws.”
Refer to the regulations in subsection IV.1, section IV, Appendix Highway.
In general, the investor is responsible for purchasing compulsory construction insurance when implementing a highway construction project.