According to BIDV Insurance Corporation (BIC), the company has recently provided an advance payment of VND 945 million in compulsory motor vehicle third-party liability insurance compensation following a landslide in Nguyen Binh District, Cao Bang Province, on September 9. The incident caused a landslide that buried and swept away a passenger car, two sedans, and several motorbikes.
Upon receiving information about the accident and identifying the owner of the passenger car as a BIC customer with compulsory third-party liability insurance for motor vehicle owners, BIC promptly coordinated with the customer and relevant parties to collect information and documents related to the accident.
Landslide in Ca Thanh, Nguyen Binh, Cao Bang
BIC has made an advance payment of compensation for third-party liability to the passengers in the accident, with the highest advance payment amount being 30% of the regulated insurance compensation. BIC also coordinated with the vehicle owner to deliver the advance payment to the families of the landslide victims.
BIC is continuing to work with the vehicle owner and authorities to accurately determine the number of victims for interim and final compensation payments. In cases where victims were not passengers in the coach, BIC will coordinate with the vehicle owner and the victims’ families to work with the Vietnam Insurance Association for timely support from the motor vehicle insurance fund.
Mr. Nguyen Xuan Viet, Chairman of the Vietnam Insurance Association, stated that as of this point, according to the association’s information, insurance companies have recorded more than 9,000 loss claims related to property insurance (including industrial plants, production workshops, machinery, equipment, and goods), motor vehicle insurance, and life insurance. The total estimated payout is about VND 7,000 billion.
Mr. Viet added that if any issues arise during the process of settling insurance benefits and addressing the consequences of Storm No. 3, businesses can provide feedback to the association. The association will then report and seek guidance from state management agencies to resolve the issues promptly. The association is closely monitoring the situation and has sent official dispatches to insurance businesses, requesting them to promptly provide advance payments to settle insurance benefits for customers.
According to the Department of Insurance Management and Supervision (Ministry of Finance), to promptly support organizations and individuals in overcoming losses, the department sent an official dispatch to the Vietnam Insurance Association and insurance businesses immediately after the storm. The dispatch requested insurance businesses to actively coordinate with agencies, organizations, and individuals to determine losses of life and property for those who have purchased insurance. Businesses were also instructed to promptly provide advance payments, compensation, and insurance payouts to the insured and beneficiaries according to agreements in the insurance contracts and legal regulations.
Following these directions, insurance companies have mobilized their resources to be present at the scene of the incident to promptly and accurately assess the losses, conduct loss adjustment, and provide advance payments and compensation.
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.
The Devastating Floods in Thanh Hóa Province: Over 4,000 Hectares of Rice and Crops Submerged and Damaged
Recent heavy rains have wreaked havoc in Thanh Hoa province, and authorities are now working diligently to address the aftermath of the floods.
The Heavy Rainfall Submerges Sections of National Highway 1A
Heavy rainfall has caused severe flooding on National Highway 1A, particularly in the Ha Trung district of Thanh Hoa province. The deluge has resulted in deep waterlogged stretches, disrupting traffic flow. Authorities have promptly responded, deploying personnel on the ground to regulate and divert traffic, ensuring the safety of commuters and facilitating a swift return to normalcy.
The State of Bus Routes to Northern Mountainous Areas
The Vietnam Road Administration has advised provincial Departments of Transport in the northern region to proactively devise plans to suspend road transport operations amidst adverse weather conditions due to ongoing torrential rains and floods. In response, several passenger bus routes from Hanoi to northern provinces have been temporarily halted or reduced in frequency.
The Laos Cai Dam Disaster: A Race Against Time to Find the Missing
The Southeast Asia Hydropower Plant project in Nậm Lúc experienced a devastating landslide, with one reported injury and five missing persons. The incident has sparked a frantic search and rescue operation as authorities rush to find the missing workers. With time being of the essence, the race is on to uncover those feared trapped and bring them to safety.
