Legal Regulations on Professional Liability Insurance for Non-Material Damages: Lessons for Vietnam from China
Abstract
Professional liability insurance is essential for protecting professionals and organizations against financial losses resulting from negligence or errors in their services. Despite its importance, the legal framework governing professional liability insurance for non-material damages, such as harm to reputation, prestige, or mental health, remains underdeveloped in Vietnam. This paper analyzed and compared the legal regulations surrounding professional liability insurance for non-material damages in China and Vietnam. It identified key lessons that Vietnam could adopt to enhance its legal framework. Existing legal texts, scholarly articles, and case law from both countries were examined. The findings revealed that while China has established a more robust regulatory framework that addresses non-material damages, Vietnam's current legal provisions are fragmented and lack clarity. The analysis highlights aspects of China's approach, including comprehensive definitions and more evident liability standards, which could significantly benefit Vietnam's legal system. The significance of this study lies in its potential to inform policymakers and legal practitioners in Vietnam about effective regulatory practices in professional liability insurance. By drawing insights from China's experience, Vietnam can develop a more coherent and effective legal framework that protects professionals and enhances consumer trust in professional services. This research contributes to the ongoing discourse on legal reform in Vietnam, particularly in emerging areas of law related to professional liability.
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DOI: https://doi.org/10.15408/jch.v13i2.46711
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