Vietnamese insurance companies are facing a large amount of claims for human and property damage caused by storm No. 3 (Yagi), estimated at about 7,000 billion VND.
Faced with the difficulties of businesses and people, many insurance companies have implemented emergency measures to support customers and people such as promptly assessing losses and making advance payments to help customers stabilize soon.
BIDV Insurance Corporation (BIC) said that it has just made an advance payment of VND945 million to compensate for compulsory civil liability insurance (TNDS) for automobile passengers in the landslide in Nguyen Binh district, Cao Bang province.
The company said: "In the face of the huge loss of life in the landslide, in order to demonstrate the responsibility of the insurance company to its customers, BIC quickly made an advance payment for civil liability compensation for passengers on the vehicle in the above accident with the highest advance payment equal to 30% of the prescribed insurance compensation level."
At Bao Viet Insurance, as of September 12, Bao Viet has received 692 cases of loss due to storm Yagi, focusing on personal insurance and property insurance such as auto insurance, private home insurance, construction works, factories, warehouses, machinery and equipment, wharves and goods.
Bao Viet representative said: “We are urgently assessing and processing compensation claims to ensure timely and accurate support for all customers affected by the storm. At the same time, Bao Viet Insurance has also quickly implemented temporary compensation solutions, especially prioritizing damaged businesses, to help customers quickly stabilize and restart production and business activities in the coming time."
As for Postal Insurance (PTI), as of September 12, it is estimated that compensation was over 200 billion VND due to storm No. 3. The company has recorded more than 200 cases of loss of technical and maritime assets; 500 cases of loss of motor vehicles. Up to now, PTI said that the unit has completed appraisal of 85% of motor vehicle compensation claims and is waiting for repair.
Or in the case of life insurance companies, although the number of losses is not large, support work is still urgently deployed. Typically, Sun Life Insurance said that this company recorded a loss with an estimated insurance compensation of about 260 million VND. The company is trying to collect information of customers affected by Typhoon Yagi and floods to provide appropriate support.
Recognizing the important role of the insurance industry after storm No. 3, Mr. Nguyen Xuan Viet - Chairman of the Vietnam Insurance Association said: “Natural disasters are always a big challenge for all of us and in this situation, the role of the insurance industry has become more important and practical than ever. In the past time, insurance companies have urgently and actively fulfilled their insurance responsibilities, businesses have sent staff to the scene to grasp information about the damage, visit customers and promptly resolve insurance benefits, advance compensation for customers”.
Millions of arms turn to compatriots affected by storms and floods
Storms and floods have caused severe damage in many northern provinces.
"A piece of food when hungry is worth a whole package when full", with the spirit of mutual love that has always been a beautiful image of the Vietnamese people, the Golden Heart Charitable Social Fund calls on philanthropists at home and abroad to join hands to share with people affected by the storm and post-storm circulation.... to soon stabilize their lives.
The Golden Heart Social Charity Fund would like to sincerely thank the precious affection of agencies, businesses, and philanthropists at home and abroad.
Please send all donations to: Tam Long Vang Charity Fund, 51 Hang Bo, Hoan Kiem, Hanoi. Phone: 024.39232756. Account number (STK): 113000000758 at Vietinbank Hoan Kiem Branch, Hanoi. STK: 0021000303088 - at Vietcombank - Hanoi Branch, STK: 12410001122556 - at BIDV - Hoan Kiem Branch. Or scan the following QR code:
Please transfer money with clear content of support.
