On November 6, the Ministry of Finance announced that, according to the latest information from the Insurance Supervision and Management Department, as of October 31, insurance companies had provisionally paid compensation of more than VND434.4 billion to customers who suffered losses.
Of these, insurance companies have recorded 103 cases of death and injury of customers. The total estimated amount to be paid for insurance benefits is about 21.25 billion VND.
For non-life insurance, insurance companies have received about 14,772 damage reports on health insurance, technical property insurance, motor vehicle insurance and other services including hull insurance and agricultural insurance. Currently, the total amount of compensation advanced by non-life insurance companies is VND416.7 billion.
The Department of Insurance Management and Supervision said that the Department has not yet received any feedback from customers about delayed compensation or refusal to pay compensation when there are complete documents as prescribed in the Insurance Contract.
Previously, storm No. 3 (international name Yagi) and its circulation caused severe damage to people and property in many northern provinces and cities. Following the direction of the Prime Minister, the leaders of the Ministry of Finance, to promptly support organizations and individuals to overcome the damage.
Immediately after the storm, on September 25, the Ministry of Finance sent an official dispatch to insurance companies on the implementation of Resolution No. 143/NQ-CP, requesting insurance companies to continue and strengthen the direction of their affiliated units, arrange personnel to support and guide customers affected by damages on documents and procedures for claiming compensation; establish and maintain a 24/7 hotline to promptly receive information; promptly coordinate with relevant parties to conduct loss assessment, advance compensation and pay insurance money quickly, promptly and fully to insurance buyers and beneficiaries according to the agreement in the contract and legal regulations.
On October 23, the Ministry of Finance continued to issue Official Dispatch No. 11438/BTC-QLBH to insurance companies regarding the continued implementation of Resolution No. 143/NQ-CP and accelerating the process of appraisal, damage determination, loss assessment, advance payment, compensation... to ensure compensation is quick, complete, and in accordance with regulations; thereby supporting organizations and individuals affected by storms and floods to soon stabilize their lives and restore production and business activities.
