Laos has seen significant growth and investment, with 2024 expected to be a record year for tourism and business expansion. However, it’s important to remind businesses of their duty of care and legal responsibility to protect customers, employees, and their business. Phongsavanh Insurance (APA) kindly reminds businesses of the compulsory non-life insurance required by law and urges awareness of its benefits in unfortunate incidents.

(Article 14): Compulsory non-life insurance is required by law in Lao PDR for individuals, legal entities, or organizations, whether residing in the country or not, to cover civil damages for life and properties of third parties.

Compulsory non-life insurance consists of the following lists:

  1. Vehicles using engine moving on land, water and by air.
  2. Hotels, guesthouses, entertainment places, restaurants, markets.
  3. Transportation of goods and passengers on land, water and by air.
  4. Construction sites.
  5. Hydro power projects.
  6. Warehouses, chemical warehouses, fuel warehouses, explosive substance warehouses.
  7. Factories.
  8. Places to produce and store explosive substances.
  9. Other compulsory non-life insurance.

Phongsavanh Insurance (APA) wishes you a successful 2024