Vietnam’s Department of Insurance Supervision and Management under the Ministry of Finance has issued a document to the Vietnam Insurance Association and insurance companies, requesting a report on damage and insurance claims caused by Typhoon No. 3.
Typhoon No. 3 has caused significant loss of life and property damage in northern provinces. To promptly support organizations and individuals in recovering from the storm, the Department of Insurance Supervision and Management has requested insurance companies to actively coordinate with relevant agencies, organizations, and individuals to assess the damage and losses incurred by insured entities and individuals.
The document states: “Insurance companies should immediately provide advance payments, swift and timely compensation, and complete insurance payouts to the insured and beneficiaries. The Vietnam Insurance Association, in collaboration with insurance companies, should provide humanitarian support in accordance with internal regulations and relevant legal provisions.”
Cars in Hanoi crushed by falling trees during Typhoon No. 3. Photo: TP.
Insurance companies have been requested to report on the damage and insurance settlements by September 12 at the latest. The typhoon has caused extensive damage to cars in several provinces (Hanoi, Quang Ninh, and Hai Phong), with many vehicles crushed by falling trees. According to Tien Phong‘s reporters, if a car is damaged by a falling tree, a fallen electric pole, or flooding, the insurance company will compensate the insured customer if they have purchased car material insurance, also known as car hull insurance, a voluntary type of car insurance.
In the event of a car being crushed by a falling tree, which is considered an unforeseeable natural disaster, the insurance company will provide compensation. However, if the car was parked in a no-parking zone when the tree fell, the claim will be denied. When a car is damaged by a falling tree, the owner should promptly notify their insurance company, which will then send a representative to assess the damage and guide the claimant through the necessary procedures to receive their entitled benefits.
It is important to note that if the car owner only has compulsory civil liability insurance and the vehicle sustains damage, the insurance company will not provide compensation for the loss.
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