Advance payment of more than 434 billion VND to compensate customers for damage caused by storm Yagi

The Department of Insurance Management and Supervision ( Ministry of Finance ) announced the above information. Accordingly, insurance companies recorded 103 cases of death and disability of customers. The total estimated amount to be paid for insurance benefits is about 21.25 billion VND.

For non-life insurance, insurance companies received about 14,772 damage reports on health insurance, technical property insurance, motor vehicle insurance and other services, including hull insurance and agricultural insurance. Currently, the total amount of compensation advanced by non-life insurance companies is VND416.7 billion.

The Department of Insurance Management and Supervision said that the unit has not yet received any customer feedback on slow compensation or refusal to pay compensation when there are complete documents as prescribed in the insurance contract.

Previously, storm No. 3 (international name Yagi) and its circulation caused severe damage to people and property in many northern provinces and cities.

Implementing the direction of the Prime Minister and the leaders of the Ministry of Finance, to promptly support organizations and individuals to overcome the damage, immediately after the storm dissipated, on September 25, the Ministry of Finance sent an official dispatch to insurance companies, requesting that insurance companies continue to strengthen the direction of their affiliated units, arrange personnel to support and guide customers affected by the damage on documents and procedures for claiming compensation.

On October 23, the Ministry of Finance continued to send an official dispatch to insurance companies regarding the continued implementation of Resolution No. 143/NQ-CP and speeding up the process of appraisal, damage determination, loss assessment, advance payment, compensation... to ensure compensation is quick, complete, and in accordance with regulations.