Tiếng ViệtWe are pleased to share a noteworthy Court Decision with you: https://congbobanan.toaan.gov.vn/2ta13342…/chi-tiet-ban-an In Judgment No. 07/2023/KDTM-PT, the Phu Yen People’s Court ruled in favor of our client, Mr. Trình Xuân V, in a dispute over an insurance claim for the fishing vessel PY-96615-TS.
**Case Summary**: Initially, the insurance company denied compensation, citing an unclear cause of the sinking and an exclusion for storm-related damage in the policy. However, the court determined that the incident was caused by objective factors, with no fault attributable to the shipowner or the crew.
**Legal Highlight**: According to Article 21 of the Law on Insurance Business 2000 (as amended in 2010), if any provision in the insurance contract is unclear, it must be interpreted in favor of the policyholder. As a result, the insurer was ordered to pay the full insurance amount of VND 480 million, plus interest, bringing the total compensation to VND 516 million.
**Significance**: This ruling underscores the importance of having clear and well-defined insurance agreements. It also serves as a reminder that any ambiguous terms in an insurance contract will be interpreted to protect the policyholder’s rights.
For vessel owners and operators facing similar challenges, particularly in the wake of natural disasters like Typhoon Yagi, this judgment is a valuable lesson in legal rights and protections.
If you require assistance with insurance disputes or legal advice, The Lam Law LLC is ready to assist. We specialize in providing legal consultation, insurance dispute resolution, and commercial arbitration. Don’t hesitate to contact our team of professional lawyers and associates for expert support.
THE LAM LAW LLC
🏢 Indochina Park Building, No. 4 Nguyen Dinh Chieu, Da Kao Ward, District 1, Ho Chi Minh City
📞 Phone: 028 7105 8222 – 6288 3798 – Hotline: 0973 097 777
✉ Email: info@thelamlawllc.com
Related Posts
Happy Reunification Day & International Labor Day
On the occasion of Vietnam’s Reunification Day and International Labor Day, THELAM LAW extends our
Apr
THE LAM LAW proudly supports Training in Commercial negotiation and Mediation Skills
🎉 Repost: Summary of VICMC (Vietnam International Commercial Mediation Center) ’s Commercial Negotiation & Mediation
Apr
Announcement of holiday schedule 30/4 – 01/5/2025
THE LAM LAW LLC would like to inform all valued customers and partners about the
Apr
When does a contractual penalty become a legal trap for the claimant?
⚖️ SUPREME COURT OVERTURNS CONSTRUCTION DISPUTE RULING – A CASE STUDY IN PENALTY & DEBT
Apr
Professional exchange – Exploring cross-border collaboration
This afternoon at THE LAM LAW LLC – Your legal need, Our Mission office, Founder
Apr
Office Closure for Hung Kings’ Festival 2025
Dear Valued Customers and Partners, On the occasion of the Hung Kings’ Commemorations, we
Apr