On April 22, Gia Lai Provincial People's Committee said it had reported to the Ministry of Finance about a series of insurance companies delaying the payment of compensation for damages caused by natural disasters in 2025.
According to the Provincial People's Committee, in 2025, many businesses in the area were damaged by storms and floods and participated in insurance. However, so far, compensation payments have only been partially implemented.
The main reason is that the damage value between the insurance company and the insured party has not been agreed upon. In addition, some dossiers are still being reviewed and completed according to regulations.
According to a report by the Gia Lai Timber and Forest Product Association, there are 13 businesses participating in natural disaster insurance at 7 insurance companies. The total value of damage caused by storm No. 13 (Kalmaegi) in 2025 that businesses requested compensation is more than 102 billion VND. However, the amount paid is only more than 20 billion VND.
Among these, only 2 businesses have agreed on the damage value with the insurance side, with a level of more than 3.6 billion VND (a decrease of more than 2.8 billion VND compared to the initial proposal). The amount paid is more than 1.5 billion VND, and the remaining more than 2.1 billion VND has not been resolved.
For the remaining 11 businesses, the parties have not agreed on the value of damages. The total amount of compensation proposed is more than 96 billion VND, but only more than 19 billion VND has been paid, and the remaining more than 77 billion VND has not been resolved.
Insurance units that are slow to pay compensation include: Bao Minh Binh Dinh Insurance Company; Binh Dinh Post and Telecommunications Insurance Company; PJICO Binh Dinh Insurance Company; BIDV Binh Dinh Insurance Company; LPBank Insurance Corporation - Gia Lai Branch. Agricultural Bank Insurance Joint Stock Company - Binh Dinh Branch has not yet paid.
According to Gia Lai Provincial People's Committee, the delay in compensation payment has affected the progress of production and business recovery of businesses after natural disasters.
Gia Lai Provincial People's Committee requests the Ministry of Finance to direct insurance companies to urgently review and accelerate the progress of settling compensation for damage dossiers due to storms and floods in 2025.
At the same time, strengthen inspection, examination, and supervision of the implementation of compensation obligations of insurance companies; promptly rectify cases of delays and prolongations, ensuring compliance with legal regulations on insurance business.
Consider and provide specific guidance on obstacles in determining the value of damage and the compensation settlement process, in order to create conditions for the parties to soon agree and implement.
