Peace of Mind with PJICO: Weathering the Storm with Confidence

The devastating storm, YAGI, has wreaked havoc on northern provinces such as Quang Ninh, Hai Phong, Hanoi, Hung Yen, and Nam Dinh. The remnants of the third storm are continuing to cause flooding and landslides in Thai Nguyen, Yen Bai, Lao Cai, Bac Giang, Phu Tho, and Cao Bang, posing a grave threat to the lives and livelihoods of countless families and businesses.

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The full extent of the damage caused by Typhoon YAGI remains unknown as of yet, but the situation appears dire. Over the past two days, images have surfaced of entire districts and communes inundated by floodwaters, with thousands of people and their belongings submerged in the central highland provinces. Landslides have also caused casualties, indicating that the stormโ€™s devastation continues to unfold.

Even before the typhoon made landfall, PJICO Insurance had proactively directed its local units to guide customers in safeguarding their assets and personnel. The company also assigned officers to be on standby, providing timely assistance to affected customers. Despite these efforts, the stormโ€™s ferocity resulted in significant losses. As of September 10, 2024, PJICO Insurance has received reports of over 500 incidents related to motor, property, and marine insurance, with estimated losses amounting to hundreds of billions of dong. The situation in deeply flooded areas like Thai Nguyen, Yen Bai, Lao Cai, and Tuyen Quang remains unquantified.

In the face of these immense losses, PJICOโ€™s leadership expressed their empathy: โ€œWe extend our deepest sympathies to our customers, partners, and fellow citizens in the affected areas who have suffered losses and casualties due to this historic typhoon. As a leading insurance company guided by a spirit of compassionate service and backed by strong financial capabilities, we have, are, and always will stand by our customers, partners, and the affected community. PJICO pledges to commit all necessary resources to expedite the handling of typhoon-related claims.โ€

Mr. Tran Anh Tuan, PJICOโ€™s Deputy General Director, visits a site damaged by the typhoon

Regarding motor insurance in flooded areas, PJICO has arranged for additional garages from neighboring regions to promptly rescue stranded vehicles. This ensures that customers receive swift and dedicated service in handling their claims. To maximize benefits for property, technical, cargo, and hull insurance customers, PJICO is collaborating with specialized surveyors to devise remedial measures, advance compensation, and expedite final settlements. In the realm of health insurance, PJICO has promptly visited affected families, offering condolences and immediate compensation.

PJICOโ€™s delegation, led by Deputy General Director Mr. Tran Anh Tuan, visits and encourages customers affected by the third storm

Beyond expediting surveys and compensation, PJICOโ€™s Trade Union and Youth Union are planning social security activities in remote and isolated areas to support the communityโ€™s recovery. These initiatives embody the spirit of solidarity and compassion that characterizes Vietnam during times of adversity.

For three decades, PJICO Insurance has maintained its position as a leading non-life insurance company in Vietnam. AM Best, a renowned international credit rating organization, has consistently assigned PJICO a financial strength rating of B++ and a credit rating of โ€œaaa.vn,โ€ the highest in Vietnam, attesting to the companyโ€™s robust financial health.

Notably, PJICOโ€™s large loss reserve fund has ranked at the top of the Vietnamese market for several years. This fund ensures PJICOโ€™s ability to honor its commitments and promptly compensate for significant losses, whether to people or property, for its insured customers.

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