The Insurance Management and Supervision Department (Ministry of Finance) has just issued Document No. 1389/QLBH-PNT to the Vietnam Insurance Association and insurance companies, requesting reports on the damage and insurance compensation caused by storm No. 10 and floods.
According to the document, implementing the Prime Minister's Official Dispatch No. 175/CD-TTg dated September 28, 2025 on focusing on responding to and overcoming the consequences of storm No. 10, the Department of Insurance Management and Supervision recommends that insurance companies proactively coordinate with relevant agencies, organizations and individuals to deploy response work.
In case of damage, it is necessary to urgently determine the damage to people and property of organizations and individuals participating in insurance; immediately make advance payments, compensation and pay insurance quickly, promptly and fully to the insurance buyer, in accordance with the agreement in the insurance contract and legal regulations.
The Department also requested the Vietnam Insurance Association to coordinate with insurance companies to organize humanitarian assistance according to internal regulations and related legal regulations.
Insurance companies report the damage situation, resolve insurance benefits, and provide humanitarian assistance to the Department of Insurance Management and Supervision before October 1, 2025.
