Regulation on insurance and payment fund to compensate for damage caused by marine ship-source oil pollution in Vietnam

In the maritime sector, the damage is often significant, affecting many different sea users, and the amount of damage is often beyond the capacity of business individuals and organizations. To ensure adequate and timely compensation for the aggrieved party, vessels carrying oil, oil products, or dangerous and hazardous substances must have civil liability insurance. This article lays down the current regulations of Vietnam on insurance and payment fund to compensate for damage caused by marine ship-source oil pollution