PVI Insurance has announced that it has started to disburse interim compensation to customers affected by Yagi, with total claimed losses estimated at over VND 3,000 billion as of September 23. This includes 751 reported cases of property, motor, and personal insurance claims.
Over two weeks since the storm hit the northern provinces, PVI Insurance has begun interim disbursements to affected customers, amounting to VND 15 billion. The swift action showcases the company’s ability to respond to customers’ compensation needs in the aftermath of a natural disaster, helping to alleviate financial burdens during challenging times.
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“However, assessing the losses this time is no easy feat, especially in the non-life insurance sector, given the storm’s devastating impact,” added PVI Insurance.
Prior to this, the Department of Insurance Management and Supervision (Ministry of Finance) had requested insurance companies to proactively coordinate with relevant agencies, organizations, and individuals to identify losses and promptly provide interim compensation and insurance payouts to policyholders and beneficiaries as per contractual agreements and regulations.
“In line with these directives, insurance companies have mobilized their full force, deploying personnel to the affected areas to swiftly and accurately assess the situation, conduct loss adjustment, and provide interim compensation to support customers in overcoming this challenging period,” stated the Department of Insurance Management and Supervision in its correspondence to the insurance companies.
Furthermore, the department also requested insurance companies to bolster their customer support by allocating additional staff to handle hotlines operating 24/7. This ensures that customers can promptly report losses and receive guidance on the necessary procedures to initiate insurance claims.
A Helping Hand for Yên Bái and Lào Cai: Emergency Support Package of 180 Billion VND Proposed
The Ministry of Finance has proposed a generous support package for two provinces: a substantial 150 billion VND for Lao Cai and 30 billion VND for Yen Bai.
VietinBank Insurance: Supporting Our Fellow Citizens Affected by Storm No. 3
In the wake of the devastating effects of Storm No. 3, Yagi, on the people of northern provinces in recent days, VietinBank Insurance is committed to standing by its customers and ensuring their insurance benefits. We are also extending our support to those affected, sharing their losses, and helping to alleviate the aftermath of this natural disaster.
Manulife, Prudential, Chubb, and MB Ageas Insurers Have Not Yet Received Any Claims From Yagi Typhoon and Flooding
The six life insurance companies, including AIA and Daichi, have estimated that the payouts for claims and support due to Typhoon Yagi and the floods in Northern Vietnam amount to nearly VND 10 billion. Meanwhile, Manulife, Prudential, Chubb, MB Ageas, and Hanwha are assessing the situation, but have not yet received any damage reports from their customers.
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### PVI Insurance: Navigating the Storm with Over VND 400 Billion in Claims Paid to Customers Affected by Storm No.3.
A devastating storm, known as Storm No. 3, swept through northern provinces and cities, leaving a trail of destruction in its wake. The powerful storm resulted in casualties and extensive property damage. In the aftermath, an insurance company stepped up to provide compensation, with payouts totaling an astonishing 400 billion VND to those affected by the storm’s wrath.
